Defense Metals has entered a memorandum of understanding (MOU) with the Saskatchewan Research Council (SRC) to bolster the rare earth element (REE) supply chain in Canada.
This partnership aims to capitalise on both parties’ capabilities in the processing and supply of critical rare earth materials necessary for producing rare earth magnets.
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The MOU establishes a cooperative framework for Defense Metals and SRC to explore potential collaborations that leverage their respective strengths in the rare earths magnet value chain.
It is set to enable discussions regarding the use of SRC’s technology for separating Defense Metal’s mixed rare earth carbonates into individual rare earth oxides.
Additionally, the collaboration will focus on facilitating the negotiation of a long-term agreement for the sale and purchase of mixed rare earth carbonate produced by Defense Metals.
This initiative is in line with the broader objectives of the Canadian Critical Minerals Strategy, which emphasises the development of a domestic industry and aims to reduce dependence on foreign sources of critical minerals, thereby enhancing national security.
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By GlobalDataThe alliance also aligns with North American objectives to promote economic competitiveness and technological innovation, particularly in the sectors of clean energy and defence technologies.
It represents a forward-looking approach to ensuring a more robust and self-reliant supply chain for critical minerals in Canada.
Defense Metals executive chairman Guy de Selliers said: “We are excited to collaborate with the Saskatchewan Research Council, a recognised leader in rare earth processing and technology development.
“This MOU represents a significant step forward in our goal of becoming part of a secure and sustainable supply chain for rare earth elements in North America.
“By working together with SRC, we believe we can make substantial progress toward closing the rare earth supply chain loop and ensuring the availability of these critical materials for green energy and defence applications that are essential for national security.”
In May last year, Discovery Group subsidiary Defense Metals closed a private placement of C$12.5m ($9.27m) to develop its Wicheeda REE project in Canada.
