SASKATOON — PrairiesCan has announced $6 million in funding to support the Saskatchewan Research Council at their Rare Earth Processing Facility.
According to Dan Vandal, minister responsible for PrairiesCan, the allocation will help establish and commercialize a process to separate unrecovered rare earth oxides (REO) from radioactive monazite tailings that would have otherwise been disposed of, resulting in additional rare earths sufficient to manufacture up to 65,000 EVs per year. The funding also helps to develop an automated metal smelting process to produce commercial-grade REE metals.
Previously announced funding to PrairiesCan of $2.5 million in interest-free repayable funding for SRC helped purchase equipment needed to establish the Rare Earth Processing Facility. A recent allocation of almost $5 million from Natural Resources Canada through the Critical Minerals Research, Development and Demonstration program, also supports the facility.
"What is happening at SRC right now is very exciting," Mayor of Saskatoon Charlie Clark said.
"This work is crucial to help meet global demand for the magnets and rare earth minerals that will be needed to power the future. These investments by both the Federal and Provincial Government are crucial for accelerating that work. Having this processing facility in Saskatoon creates a tremendous opportunity to develop an economic cluster here as we continue to diversify our economy and create good jobs for the future."
"This funding will allow SRC to optimize two important processes in the rare earth supply chain, producing more REE and at the same time doing it quicker, safer and with less demand on manual labour,” Saskatchewan Research Council president and CEO Mike Crabtree said.
