In late October, Search Minerals Inc. (Search) announced it has signed a Memorandum of Understanding (MOU) with the Saskatchewan Research Council (SRC).
According to a news release, the SRC Rare Earth Processing Facility is positioned as a catalyst to stimulate the resource sector in Saskatchewan and across Canada to generate industry investment and growth. The Government of Saskatchewan announced $31 million in funding for the facility, which will be located in Saskatoon and owned/operated by SRC. The facility will process rare earth concentrates and separate rare earths into individual rare earth oxide products using the conventional solvent extraction process. This would position Search Minerals as a potential supplier in the North American rare earth supply chain.
“We are very excited to have this collaboration with SRC as they build the Rare Earth Processing Facility in Saskatchewan,” stated Greg Andrews, President/CEO of Search Minerals. “We anticipate using the conventional solvent extraction process to enable Search to validate the ability to produce the individual rare earth oxides necessary to enter the rare earth supply chain. Recent announcements regarding building electric cars in Canada and other government-led initiatives for clean and green technology provides the framework for industry access to a secure rare earth supply chain in Canada.”