TSX-V-listed Search Minerals has entered into a memorandum of understanding (MoU) with the Saskatchewan Research Council (SRC) with regard to the processing of rare earth concentrates.
The Saskatchewan government in August granted $31-million in funding for a rare earths processing facility to be built in Saskatoon and to be owned and operated by the SRC.
The facility, which is expected to be operational by late 2022, will be positioned as a catalyst to stimulate the resource sector in Saskatchewan and across Canada to generate industry investment and growth. It will have the ability to process rare earth concentrates and to separate rare earths into individual rare earth oxide products using the conventional solvent extraction process.
Search states that the ability to demonstrate the separation of rare earths from its concentrate produced in South East Labrador, will position the company as a potential supplier in the Canadian and North American rare earth supply chain.
“We are very excited to have this collaboration with SRC as they build the rare earth processing facility in Saskatchewan. We anticipate using the conventional solvent extraction process to enable Search to validate the ability to produce the individual rare earth oxides necessary to enter the rare earths supply chain.
"Recent announcements regarding building electric cars in Canada and other government-led initiatives for clean and green technology provide the framework for industry access to a secure rare earths supply chain in Canada. We believe Search is well positioned to capitalise on these opportunities," says Search president and CEO Greg Andrews.
Search is focused on finding and developing critical rare earth elements, zirconium and hafnium resources within the emerging Port Hope Simpson – St. Lewis district of South East Labrador.