Business
Quebec Rare Earth Elements Announces Change in Management and REE Opportunity
Toronto, Ontario--(Newsfile Corp. - November 23, 2023) - Quebec Rare Earth Elements Corp. (CSE: QREE) (the "Company") is pleased to announce a change in managem
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - November 23, 2023) - Quebec Rare Earth Elements Corp. (CSE: QREE) (the \"Company\") is pleased to announce a change in management and focus that positions the Company to capitalize on the significant opportunity in the rare earth element (REE) market. Management Change, Martin Milette, CFO Martin Milette has been appointed chief financial officer, replacing Arvin Ramos. The Company thanks Mr. Ramos for his service and wishes him well in his future endeavours. Mr. Milette has over 25 years of financial experience, with the last 15 years as chief financial officer at SEMAFO, a West African gold producer. Mr. Milette is based in Montreal. Benoit Desormeaux, CEO, states, \"I have worked with Martin for over 15 years and look forward to working with him again. His financial acumen is complemented well by his knowledge of the mining industry and general management skills. Together, with a small but focused team we look forward to capitalizing on the REE opportunity for the benefit of all stakeholders.\" New Leadership, New Name, New Focus QREE's founders are Benoit Desormeaux, John Jentz, Martin Milette and Richard Roy who are all substantial shareholders of QREE. All four have worked together at SEMAFO for many years and together, they have almost 100 years of mining experience throughout all stages of exploration, development, financing, construction and operations. QREE was formed to develop REE projects, primarily in Quebec. The need for REE supply chains outside of China is clear and when combined with fundamental REE demand presents a significant opportunity. The province of Quebec is a premier, stable mining jurisdiction with vast REE exploration potential and has the required infrastructure for all stages of REE development. REE Overview Rare earth elements (REEs) are a group of 17 elements composed of scandium, yttrium, and the 15 lanthanides. REEs impart special properties of magnetism, luminescence, and strength. Although substitutes for REEs are available, they are generally less effective. REE Opportunity, Permanent Magnets Permanent magnets are the single largest and most important end use for REEs. Permanent magnets are an essential component of modern electronics used in automobiles, cell phones, televisions, computers, wind turbines, jet aircrafts and many other products. The stron...