Business
Medallion Resources Renews Strategy for US Rare Earth Element Supply Chain
VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to provide an update on the Company’s strategy to develop a secure, 100% domestic supply chain for rare earth elements (“REE”) within the United States. Medallion is executing on a unique technology-led business model that can deliver the most critical magnet REEs quickly and cost-effectively. Key Points Medallion is developing proprietary technology to extract REEs from mineral sand mining by-products REEs enable high-strength permanent magnets, essential for many emerging and defense technologies Focused on the US, aiming to deliver a fully domestic supply chain utilizing US materials and equipment Secure REE access is a key platform of US re-industrialization to reduce dependence on external suppliers Media is identifying the importance of critical raw material security for US CEO to deliver webinar May 27, 2020 at 4:05 ET The ability to source essential industrial and medical supplies and critical raw materials in a time of crisis is a key test of the robustness of a national supply chain. For many countries including the US, the COVID-19 pandemic highlighted that, in crisis, supply chains controlled by non-aligned third parties may be unable or unwilling to adequately deliver access to critical materials, chemicals, pharmaceuticals or key enabling technologies. While the push to re-industrialize the United States has been a multi-year trend, the devastating impact of the pandemic is now rapidly accelerating this process, driven by both private and public interests. The supply chains that underpin the strength of US defense, health services and industry are being reevaluated, with secure domestic access now prioritized alongside quality and cost considerations. Certain critical raw materials are a cornerstone for America’s high-tech industries. Rare earth elements alongside lithium, graphite and cobalt are essential for defense applications, renewable energy generation and storage, and electric mobility. REEs enable high-strength permanent magnets—the technology of choice for electric and hybrid vehicles, larger wind turbines, robotics, and countless other applications. At present, global access to REE magnets is dominated by Chinese interests, due to ...