The Elements of Innovation Discovered
The Elements of Innovation Discovered
$20M will add rare earth metals unit, and cover cost overruns Metal Tech News – June 29, 2022
The SRC Rare Earth Processing Facility in Saskatchewan is slated to begin producing individual rare earth oxides and neodymium-praseodymium metals for sale in 2024.
To further support its strategy to establish Saskatchewan as a major hub for North America's rare earth supply chain, the provincial government is investing an additional C$20 million (US$15.5 million) into the rare earth processing facility that Saskatchewan Research Council is developing near Saskatoon.
In the fall of 2020, the Saskatchewan government invested an initial C$31 million (US$24 million) for SRC to build the first facility in North America capable of upgrading rare earths-enriched monazite sand into a mixed REE product and then separate the contained rare earths into individual REE oxides.
"Saskatchewan's new rare earth processing facility will be a catalyst to stimulate the resource sector in Saskatchewan and across Canada, providing the early-stage supply chain needed to generate cash-flow, investment and industrial growth of the sector," Saskatchewan Premier Scott Moe said when this initial investment was made.
The new round of funding will allow SRC to add another link to the REE supply chain in Saskatchewan, the ability to produce rare earth metals at the facility. The supplemental investment will also cover cost increases stemming from supply chain challenges over the past two years.
The same supply chain challenges that have caused cost overruns and slowed progress at the SRC rare earths plant also speak to the need to establish a North American supply chain for the rare earths essential to electric vehicles, renewable energy, high-tech devices, and household goods.
"The SRC Rare Earth Processing Facility delivers on a key element of the 2030 Growth Plan, with the planned expansion into metals production exceeding our original objective," said Jeremy Harrison, Saskatchewan minister responsible for SRC. "Our government is proud to provide our continued support to a facility that is enhancing domestic production to reduce reliance on foreign imports and supporting economic growth in this burgeoning sector."
The first stage of this facility involves the construction of a plant capable of processing monazite sands, which typically are enriched with light rare earths such as cerium, lanthanum, neodymium, and praseodymium.
Neodymium and praseodymium are particularly prized rare earths due to their use in the powerful rare earth magnets that go into EV motors, wind turbine generators, computer hard drives, speakers and headphones, medical imaging equipment, and a wide array of other industrial and household goods.
Last year, SRC secured more than 900 metric tons of monazite concentrate from a company in Brazil to serve as the initial feedstock for the processing facility. The first shipment of this REE-enriched product has been delivered to Saskatchewan, and the balance is slated to arrive in July.
Upon completion of the detailed engineering and procurement of the monazite processing unit, expected by fall, SRC plans to begin acquiring the equipment needed for the rare earth separation and metal units.
This expanded and fully integrated rare earth processing facility is expected to begin producing REE products for sale in 2024, including individual rare earth oxides and didymium (neodymium-praseodymium) metals.
"SRC is proud to be a world leader in rare earth element processing and separation technologies which will play an important part in the innovative solutions needed to reach net-zero," said SRC President and CEO Mike Crabtree. "This additional funding will support SRC's ability to continue advancing the production of rare earth elements, as well as our capacity to move further down the value chain as we build a rare earth hub in Saskatchewan."
With more than 16 years of covering mining, Shane is renowned for his insights and and in-depth analysis of mining, mineral exploration and technology metals.
Reader Comments(0)