Australia's Northern Minerals rises on rare earth supply deal with Thyssenkrupp

Northern Dynasty Minerals

12/08/2019 02:25

** Rare earth mineral explorer's shares  NTU.AX  jump as
much as 11.1% to A$0.070, biggest intraday pct gain since July
17
    ** Company signs rare earth supply agreement with Germany's
Thyssenkrupp AG  TKAG.DE , just days after terminating a deal
with China's Lianyugang Zeyu New Materials Sales Co  urn:newsml:reuters.com:*:nL4N257130
    ** Under deal, Thyssenkrupp to purchase the entirety of the
heavy rare earth carbonate from the Browns Range project
    ** " ... new offtake agreement doesn't include any price
caps, giving the company full exposure to increasing Dysprosium
and Terbium prices, which are up 60% and 35% respectively over
the year to date" - Northern Minerals CEO George Bauk
    ** Stock hits highest since July 24
    ** Shares have risen 16.1% this year, as of last close

 (Reporting by Shriya Ramakrishnan in Bengaluru)
 ((Shriya.Ramakrishnan@thomsonreuters.com;))