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Investing in Innovation for an Energized Economy - Research and Development Corporation Investing in Rare Earth Element Recovery Technology
ST. JOHN'S, NL , Jan. 21, 2014 /CNW/ - The Research & Development Corporation (RDC) ...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\nST. JOHN'S, NL, Jan. 21, 2014 /CNW/ - The Research & Development\n Corporation (RDC) is pleased to announce an investment of $112,500 to\n assist Search Minerals Inc. in its development of innovative\n technologies for the recovery and refining of rare earth elements from\n Labrador.\n\n\n\"This is a collaborative research and development project with\n tremendous potential for Labrador, and Search Minerals. By investing\n $112,500 in this technology we are supporting the opportunity for new\n mineral production in Labrador, and the development of innovative\n technologies to benefit industry.\"\n- The Honourable Charlene Johnson, Minister of Innovation, Business and\n Rural Development and Minister Responsible for the Research & Development Corporation\n\n\nThe project will evaluate and compare the commercial feasibility to\n separate and refine rare earth elements from ore with the specific\n characteristics from Search Mineral's Foxtrot Project in the Port Hope\n Simpson Rare Earth Element District in Southeast Labrador. Additional\n information on Search Minerals Inc. can be found in the attached\n backgrounder.\n\n\n\"Labrador's rare-earth-element and rare-metal prospects and deposits\n have great potential. We are pleased to invest in research that\n supports the opportunity to solve technical challenges and generate\n increased economic activity.\" \n- Glenn Janes, Chief Executive Officer of RDC\n\n\nRDC's $112,500 investment is being matched by an equal contribution from\n the Atlantic Canada Opportunities Agency (ACOA), and an additional\n $75,000 in working capital from Search Minerals. It is expected that\n the project will start in January 2014.\n\n\n\"Search is pleased to participate in this research and development\n initiative with RDC and ACOA. Search's new corporate strategy centers\n on creating value through finding and developing metal assets with\n strong, growing demand and constrained or restricted supply, which\n includes rare earth elements. We believe that this project will\n underline the attributes of the Foxtrot Project, and we look forward to\n developing in Labrador.\" \n- Stephen Keith, President & Chief Executive Officer, Search Minerals Inc.\n\n\nThe Research & Development Corporation is a provincial Crown corporation\n responsible for improving Newfoundland and Labrador's ...