Saskatchewan Research Council (SRC) is set to advance the processing and commercialization of rare earth elements thanks to a significant investment from the Canadian Government.
The Honorable Dan Vandal, Minister responsible for PrairiesCan, has announced a funding boost of $6 million to SRC's Rare Earth Processing Facility in Saskatoon, the first of its kind in Canada.
Saskatchewan serves as a significant mining hub, supplying potash for agriculture, uranium for clean energy, helium for medical and industrial purposes, and currently rare earth elements (REEs) essential for electric vehicles (EVs), wind turbines, everyday electronics, and industrial applications.
This financial backing will allow the SRC to establish and commercialize a method to separate unrecovered rare earth oxides from radioactive monazite tailings. This innovative process could yield enough additional rare earths to manufacture up to 65,000 electric vehicles per year. The funding also supports the development of an automated metal smelting process, aiming to produce commercial-grade rare earth element metals.
The investment is part of the government's Critical Minerals Strategy, a drive to create a greener and more sustainable economy. The strategy has previously seen PrairiesCan offer $2.5 million in interest-free repayable funding to equip the Rare Earth Processing Facility. Additionally, Natural Resources Canada has recently chipped in almost $5 million through the Critical Minerals Research, Development and Demonstration program.
Canada is rich in minerals, with 23 out of 31 critical minerals identified by the government found right in Saskatchewan. The province is also home to some of the largest known reserves of rare earth oxides, estimated at over 14 million tons in 2021.
The investment announcement comes as mineral exploration expenditures in Saskatchewan have reached a 10-year high, primarily driven by uranium exploration. Saskatchewan’s leadership in mining, exploration, and mineral processing is poised to establish a domestic rare earth supply chain, creating economic value and job opportunities.
Canada Quick facts
- The Government of Canada has identified 31 critical minerals, and 23 of those can be found in Saskatchewan.
- Canada has some of the largest known reserves and resources of rare earth oxides, estimated at over 14 million tonnes in 2021.
- Mineral exploration expenditures in Saskatchewan hit a 10-year high in 2023, with uranium exploration leading the way, demonstrating the region’s high global attractiveness for investment (Saskatchewan Ministry of Energy and Resources Exploration and Development Highlights Report, 2023).
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