Rare earth consultant engaged for Japanese market
USA Reference Symbol: GWMGF
SASKATOON, Sept. 11 /PRNewswire-FirstCall/ - Great Western Minerals Group Ltd. (TSX-V: GWG) - Jim Engdahl, President, is pleased to report that it has engaged Kazuo ("Kaz") Machida to consult to the Company with respect to the Japanese market for rare earth element products. Specifically, Mr. Machida will advise the Company as to potential products and customers for material that could be produced from its 100%-owned Hoidas Lake rare earth project in northern Saskatchewan. The Hoidas Lake project is in the prefeasibility stage of development, and Mr. Machida's input will be used to help define the product and revenue stream for the prefeasibility study. Kaz graduated from Rikyo University in Tokyo, with a Masters degree in Business Administration, and joined C. Itochu & Co. Ltd. (now Itochu Corp.) as a trader in industrial minerals. Stationed in Japan, Australia and Singapore, Kaz worked for Itochu until 2002, trading in a variety of industrial minerals, including rare earth element products for the phosphor, magnet, glass and ceramic industries. Itochu was one of the first trading companies to introduce Chinese rare earths to the Japanese market. After leaving Itochu, Kaz established his independent consulting business, Kay Investment Ltd., and continued trading in rare earth oxides between China and Japan. He also assisted Lynas Corp. in the development of the Mt. Weld rare earth project in Australia. The rare earth elements are critical to many high-technology applications including those required for electric and hybrid vehicles. China currently controls 97% of world rare earth production and, as official policy, have recently announced restrictions on the export of rare earth products to buyers outside of China. Great Western Minerals Group Ltd. is proud to be working with Kaz Machida in working toward the goal of becoming the only vertically-integrated supplier of rare earth products outside of China. The Company, through its wholly-owned subsidiary, Great Western Technologies Inc., already operates specialty metal manufacturing facilities in Troy, Michigan. These facilities produce a range of products including powders, metal hydrides and superalloys for clients carrying out research and development in the battery, fuel cell, automotive and aerospace industries. Jim Engdahl, President (The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the foregoing contents)
SOURCE GREAT WESTERN MINERALS GROUP LTD.
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