Introduction to St George Mining's strategic move

St George Mining (ASX:SGQ) has entered into a non-binding Memorandum of Understanding with SKI HongKong Limited. This partnership aims to support the development of St George's high-grade Araxá niobium-REE Project located in Minas Gerais, Brazil. The MoU establishes a framework for collaboration on marketing, offtake, and financing aspects.

Comprehensive summary and future outlook

St George Mining Limited has announced a strategic partnership with SKI HongKong Limited through a non-binding MoU to support its Araxá niobium-REE Project in Brazil. The agreement outlines collaboration on marketing, offtake, and financing, with SKI potentially securing a minimum 20% of the niobium products. The involvement of SKI is a significant milestone, providing potential funding support and expediting feasibility studies. St George plans to produce sample niobium products by mid-2025 and aims to finalize a binding agreement within nine months. This partnership positions the Araxá Project to meet the increasing global demand for niobium while allowing St George to explore additional strategic partnerships.

Executive insights on the MoU

The collaboration with SKI HongKong Limited is a strategic step forward for St George Mining. SKI's expertise in the niobium market and their commitment to securing a reliable supply of this critical metal align with our goals to advance the Araxá Project as a significant global source of niobium. This MoU helps de-risk our project and expedites its development.