Canada has begun supplying the world with minerals critical to a greener economy with the country’s first rare earth mine delivering concentrated ore.
Some industry analysts predict the rare earth market will grow from $6.8 billion in 2021 to more than $12 billion by 2026. The new mine uses no water. Instead, raw ore is crushed to gravel-sized pieces and run past a sensor. Nechalacho’s refined product is going to a customer in Norway, where the individual minerals will be separated from each other and processed into metallic bars.
Eventually, said Connelly, Cheetah hopes to work out an equity share for Indigenous groups in the area.A domestic source for minerals vital to electric motors would help preserve the country’s auto sector, he said. It would make it easier for Canada to achieve its climate goals and increase national security by providing a secure source of crucial materials, he added.
To save any non-subscribers a google search, their referring to vital_metals ASX: $VML OTC: $VTMXF, Mentions Vitals subsidiary Cheetah resources, responsible for waterless X-ray ore sorting tech, making them the lowest cost producer outside China according to Marketscreener1.
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