{"id":9855,"date":"2024-09-20T07:50:21","date_gmt":"2024-09-20T07:50:21","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/09\/20\/saskatchewan-research-council-achieves-commercial-production-at-rare-earths-facility\/"},"modified":"2024-09-20T07:50:21","modified_gmt":"2024-09-20T07:50:21","slug":"saskatchewan-research-council-achieves-commercial-production-at-rare-earths-facility","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/09\/20\/saskatchewan-research-council-achieves-commercial-production-at-rare-earths-facility\/","title":{"rendered":"Saskatchewan Research Council Achieves Commercial Production at Rare Earths Facility"},"content":{"rendered":"

The Saskatchewan Research Council\u2019s (SRC) rare earths processing facility in Saskatoon is now producing rare earth metals at a commercial scale, the organization announced on Monday (September 16). <\/strong><\/p>\n

The Canadian province is now the first and only jurisdiction in North America to achieve this level of production.<\/p>\n

The SRC said the facility reached commercial scale over the summer, and can produce 10 metric tons of neodymium-praseodymium (NdPr) metals per month. The milestone came ahead of schedule, and the operation has reportedly achieved purities exceeding 99.5 percent, as well as conversion rates greater than 98 percent.<\/p>\n

Building off this initial success, the SRC plans to increase monthly production at the facility to 40 metric tons by December of this year, with the goal of reaching 400 metric tons annually by early 2025.<\/p>\n

Rare earths are essential for a range of high-tech applications, including electric vehicles and other green technologies.<\/p>\n

Saskatchewan Premier Scott Moe expressed the provincial government\u2019s support for the SRC\u2019s achievements.<\/p>\n

\u201cThis represents a significant opportunity for Saskatchewan to be a world leader in the area of critical mineral development by establishing a secure and sustainable rare earth supply chain,\u2019 he commented. <\/p>\n

In July, the SRC secured tolling agreements with international clients to convert rare earth oxides into metals at its facility. These agreements have helped the SRC to demonstrate its technology at a commercial scale.<\/p>\n

Jeremy Harrison, minister responsible for the SRC, highlighted the significance of the group\u2019s work, noting \u201cProduction of these metals is important for preserving our national security and growing our provincial economy for decades to come.\u2019<\/p>\n

SRC President and CEO Mike Crabtree further stated that the successful commercialization of the facility is the culmination of over 15 years of research and development. <\/p>\n

\u201cSince 2020, SRC has aimed to become a global leader in rare earth processing technology and today we\u2019ve proven an industry model for future rare earth initiatives and supply chain development,\u201d he said.<\/p>\n

At 400 metric tons of annual output, the SRC\u2019s facility will be able to power about 500,000 electric vehicles. Rare earths also play crucial roles in various other industries, including robotics and HVAC systems.<\/p>\n

The facility has so far received a total of C$101 million in funding \u2014 US$71 million from the Saskatchewan government and an additional C$30 million from the Canadian government.<\/p>\n

<\/span>Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Saskatchewan Research Council\u2019s (SRC) rare earths processing facility in Saskatoon is now producing rare earth metals at a commercial scale, the organization announced on Monday (September 16). The Canadian province is now the first and only jurisdiction in North America to achieve this level of production. The SRC said the facility reached commercial scale […]<\/p>\n","protected":false},"author":0,"featured_media":9856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-9855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/9855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=9855"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/9855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/9856"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=9855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=9855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=9855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}