Business
University of Alberta and CVW CleanTech Announce Partnership to Recover Rare Earth Elements Essential for Canada's Path to Net Zero
Edmonton, Alberta--(Newsfile Corp. - July 3, 2024) - Today, the University of Alberta and CVW Cle...
About this update from Cvw Sustainable Royalties Inc.
[{"type":"text","content":"\nUniversity of Alberta and CVW CleanTech Announce Partnership to Recover Rare Earth Elements Essential for Canada's Path to Net ZeroEdmonton, Alberta--(Newsfile Corp. - July 3, 2024) - Today, the University of Alberta and CVW CleanTech (TSXV: CVW) (OTCQX: CVWFF) (\"CVW CleanTech\") announced a joint research project to advance the recovery of rare earth elements from oil sands waste. The partnership will apply mineral separation research and processing technology to capitalize on this abundant source of critical minerals which is currently being lost to tailings ponds.The project will develop commercial grade monazite from oil sands tailings waste, which can be used along with other critical minerals to build batteries, electric vehicles, wind turbines, and other clean technologies to decarbonize the economy. The recovery of rare earth elements would provide Canada with a new supply of critical minerals that are vital to transition to a lower-carbon economy, and to strengthen Canada's global leadership and security. \"Our partnership with the University of Alberta presents a significant step forward in our joint mission to transform waste streams into valuable economic products,\" said Kevin Moran, Executive Vice President & Chief Technology Officer at CVW CleanTech. \"By supporting the global clean energy transition and strengthening our domestic supply chain, this research will support the critical mineral strategies of Alberta and Canada, strengthen our position in the green economy, and provide more jobs and greater economic opportunities for the country.\"\"Alberta's oil sands contain heavy minerals bearing rare-earth elements,\" said Qi Liu, Professor of Chemical and Materials Engineering at the University of Alberta. \"These heavy minerals are enriched by the bitumen recovery process and end up in bitumen froth treatment tailings in economic grades. Recovering these minerals will boost Canada's critical mineral production. We look forward to working with CVW CleanTech to explore this exciting opportunity.\"Funded by the Natural Sciences and Engineering Research Council of Canada (NSERC) and carried out in partnership with InnoTech Alberta, the $1.4 million project will take place over three years with early results on critical mineral concentrate expected within the first year. A CVW CleanTech critical minerals proje...