SASKATOON, SASK. – The federal government is funding $7.5 million through PrairiesCan to assist Saskatchewan’s mining and mineral processing sector.
The money will go to Canada’s first-ever rare earth element processing centres located in Saskatchewan.
Vital Metals Canada Ltd. received $5 million to install equipment and begin processing bastnaesite concentrate to produce mixed rare earth carbonate at its new plant in Saskatoon. The investment is an interest-free repayable contribution under the Jobs and Growth Fund.
The Saskatchewan Research Council received $2.5 million in interest-free repayable funding under the Western Diversification Program to purchase equipment needed to establish a rare earth processing facility in Saskatoon that produces mixed rare earth carbonite by processing monazite ore.
“Saskatchewan is a leader in mining and our government is continuing to make investments to support the establishment of a domestic rare earth supply chain. Canadian companies are not only suppliers of resources, but also processors and producers of value-added products, which will strengthen our economy, create good jobs for Canadians and help us build a cleaner and brighter future,” federal Minister of PrairiesCan Dan Vandal said in a statement.
“Vital Metals Ltd. welcomes Canada’s investment in our Saskatoon Rare Earth Processing Facility. It is a strong signal of Canada’s confidence in our capacity to provide responsibly sourced and produced rare earth for our friends and allies. This bold private sector-government collaboration makes Canada’s place as the cornerstone of rare earth supply chains for the green economy a reality,” added David Connelly,
Vital Metals and Cheetah Resources vice-president of strategy and corporate affairs.
Cheetah Resources started production at the Nechalacho Rare Earth Project in the Northwest Territories in June 2021 and is part of Vital Metals Ltd.
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