Stans Energy signs MOI with the Russian Leading Research Institute of Chemical Technology
September 13, 2010
Stans Energy Corp (TSX-V: RUU) (‘Stans’ or ‘the Company’) is pleased to announce the signing of a memorandum (MOI) with the Russian Leading Research Institute of Chemical Technology (legal Russian acronym – VNIIHT). The MOI states that the two parties, along with their other Russian partners, are to collaborate to conduct a review of the rare earth potential of the Russian Federation with the objective of identifying, and jointly pursuing potential acquisitions.
VNIIHT was founded in 1951. The state-owned research institute specializes in the development of advanced technologies for exploration, processing and production of rare earths, rare-metals, precious metals, and uranium ores. The institute’s developed technology has become a production cycle base for hydro-metallurgical plants throughout Former USSR and across the world.
Rodney Irwin, Stans’ Board Chairman and Canada’s former Ambassador to the Russian Federation, said “This is a watershed moment for our firm, the result of considerable and successful effort by our CEO and our COO to develop close relationships with Russian colleagues. We see this as a first key step in what will be our Russia strategy. Business success in Russia requires knowledgeable and trusted Russian partners, and these traits are undoubtedly embodied in VNIIHT’s organization.”
A detailed description of VNIIHT in Russian can be found on their website – www.vniiht.ru.