PETALING JAYA: Niche Capital Emas
Holdings Bhd (NCE), via its wholly-owned subsidiary NICE REE Sdn Bhd, has entered into a joint development agreement (JDA) with Greensnow Consolidated Bhd (GCB) to collaborate on the development of a rare earth exploration, extraction and processing project over approximately 2,000 acres of land in Sungai Jeli, Kelantan.
In a filing with Bursa Malaysia, NCE said the JDA enables the parties to combine their respective technical expertise, mineral assets and financial capabilities to develop a vertically integrated rare earth project in Malaysia.
NCE said the collaboration offers several strategic benefits, including the diversification of the group's business into the critical minerals sector, particularly rare earth elements, which are essential inputs for electric vehicles, renewable energy technologies, advanced electronics, defence applications and high-technology manufacturing.
The company added that the collaboration will also provide the company access to GCB's other rare earth prospective land portfolio of approximately 410,000 acres across Kedah, Kelantan, Terengganu, Pahang, and other states in Malaysia, providing a platform for future resource development opportunities.
