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Canada Rare Earth Focusing on Six Potential Locations for a Rare Earth Refinery
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2020) - Canada Rare Earth Corp.&#...
About this update from Canada Rare Earth Corp.
[{"type":"text","content":"Canada Rare Earth Focusing on Six Potential Locations for a Rare Earth RefineryVancouver, British Columbia--(Newsfile Corp. - February 18, 2020) - Canada Rare Earth Corp. (TSXV: LL) (\"Canada Rare Earth\" or the \"Company\") is pleased to announce the commissioning of a study to select the optimal location for the Company's proposed South American rare earth refinery (the \"Study\").Canada Rare Earth has investigated various locations across nine countries over the last few years and has narrowed the scope to 6 regions within South America. The Study will consider refinery permitting, logistics and government support such as grants, tax deferrals and loans in determining the two best regions in which to situate a full spectrum refinery capable of producing: (i) a saleable rare earth concentrate, and;(ii) the complete range of commercially traded rare earths including Nd, Pr and heavy elements.Rare earths are critical inputs to electric and hybrid vehicles, wind turbines, electronics, imaging systems and strategic defence systems including jet fighters, satellites, submarines, destroyers and missiles. The Study is being undertaken by a qualified person who completed a Ph.D. in Mineral Economics from the Colorado School of Mines, was head of the Mining Engineering Department of a Brazilian university and for 8 years was responsible for the mining and ore treatment of the largest heavy mineral sand operation in South America.The CREC South American refinery initiative builds on the Company's recent announcements (December 19, 2019 and January 22, 2020) of the purchase of significant mineral sand tailings (the \"Tailings\") including access to existing permits and licenses necessary to process the Tailings. Management intends to utilize available, existing proprietary processing technology for the production of rare earth products including both heavy and light elements. Once the site has been selected the Company is striving for a rapid design and construction timeframe by leveraging existing designs that are proven and in production. By utilizing existing and proven technology, the Company is confident that it has a lower risk path to successful production especially compared to other rare earth processing projects dependent on process development of, as of yet, unproven technologies. The Company has not, as of this...