TSX-V-listed Geomega Resources has selected an industrial site in Saint-Bruno-de-Montarville (St Bruno), in Canada, as the location for its rare earth magnets (REM) recycling demonstration plant using its proprietary in-situ recovery technology and has signed a long-term lease.
The construction of the industrial complex was completed at the end of 2019 with final detail work currently ongoing. The location also provides space for the demonstration plant and for future expansions, which was an important selection criterion for the company.
According to Geomega, St Bruno “provides a strategic location for establishing the first REM recycling operation in North America”.
The site has two airports located within a 40 minute drive, is 30 minutes from Montreal and is within a six-hour drive from major North American cities such as Boston, New York and Toronto.
It also has access to major seaways with access to the Port of Montreal, Saint Lawrence Seaway and a direct link to Europe and the East coast of the US and the marine terminal in Contrecoeur.
The region is also served by Canadian National and Canadian Pacific railways.
“With the joint action plan on critical minerals collaboration that was signed between United States and Canada on January 9, 2020 we are starting to see the first concrete steps by both countries in securing supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defence, and clean technology,” says Geomega president and CEO Kiril Mugerman.
Mugerman further notes that the company envisions that its demonstration plant in St Bruno can “become the center of Quebec’s rare earths hub” that will bring these critical materials back to North America.
Details of the financing package for the demonstration plant are currently being finalised.