A unit of China Nonferrous Metal Mining Group (CNMC) said on Monday it had signed a non-binding memorandum with Singapore-listed ISR Capital that could see the Chinese firm work as a contractor on a rare earths project in Madagascar with rights to purchase products. China Nonferrous Metal Industry’s Foreign Engineering and Construction said in a filing to the Shenzhen stock exchange it had priority rights to be the engineering, procurement and construction (EPC) contractor for ISR’s Tantalus rare earths project, the memorandum of understanding said.
