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Colombia to get $116-million rare earth refinery

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(Kitco News) - Auxico Resources Canada Inc. (CSE: AUAG) said today that the company plans to build a 10,000 square metre rare earth refining facility in the free-trade zone in the city of Santa Marta, Colombia.

The operation will be capable of processing 36,000 tonnes of ore per year.

The estimated capex for the refinery is US$116.2 million.

The company said that "innovative extractions technologies" will "lower energy
consumption, significantly shorter and cost-effective processing cycles, and an overall lower
environmental impact."

Concentrate will be sourced from properties in Colombia and the Democratic Republic of the Congo.

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