Niche Capital's Arm Obtains Interim Manufacturing License for Rare Earth Extraction
Niche Capital Emas Holdings' (KLSE:NICE) wholly-owned subsidiary, Greensnow Biosolutions, has obtained an interim manufacturing licence from the Ministry of Investment, Trade and Industry to produce green chemical and bio-based solvents for rate earth extraction in its facility in Kuantan, Pahang, Malaysia.The license was secured on Aug. 9, subject to various terms and conditions, according to a Thursday filing to the Malaysian bourse.NICE's had partnered Greensnow for the joint development of a rare earth exploration, extraction and processing project in Sungai Jeli, Kelantan. The project, being executed by NICE's wholly-owned subsidiary NICE REE, involves ion-adsorption clay rare earth deposits across around 2,000 acres.Greensnow Biosolutions is now required to submit the relevant supporting documents to the Malaysian Investment Development Authority within six months of the approval letter to obtain a full manufacturing licence.
