Company aims to produce an average of 25,000 tonnes of rare earth oxides per year, approximately 10% of the world’s current production.
updated the resource estimate
for its Wicheeda rare earth element deposit in British Columbia – demonstrating growth of 17% – it positioned Wicheeda as one of North America’s most advanced REE projects, establishing, as CEO Craig Taylor said, the tonnage and grades necessary to proceed forward into prefeasibility. This is a positive development for a nascent North American rare earths market and taps into the broader issue of the glaring lack of domestic production. China has a near monopoly on the group of 17 metals that are crucial to the development of smart electronic devices and wind turbines, and which are notoriously difficult to extract and expensive to process.
The Defense Department issued a first-time contract to American or Canadian companies by year-end to recover gallium, used in semiconductors and military radar systems, after China announced restrictions on the mineral that were seen as part of the country’s trade war on technology.
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