The first metal ingots ever produced in Canada come from the Saskatchewan Research Council’s Rare Earth Processing Facility. Minister Responsible for the SRC, Jeremy Harrison, says there are only four facilities worldwide, and 90 per cent of the supply at this point comes from China. The magnet metals are used in things like electric vehicles, cell phones, , LED lights, and wind turbines. He estimates each bar, which is about the size of a gold bar, is worth about $500 to $600.
In June, the province added $20-million in funding to the new facility so it can expand its capabilities to include a metals smelting unit, which will produce the ingots. CEO Mike Crabtree says to put it in context as to the added value, the ore itself is worth 5 to 10-thousand dollars a ton, but if they are smelted into the metal ingots, they are worth $200,000 a ton. “The ability to, within the province, add that sort of value from $10,000 a ton to $200,000 a ton, represents a very significant economic development for the province.”
The fully integrated, three-stage Rare Earth Processing Facility will be the first of its kind in North America, and will be producing products for sale in the international market in 2024. Crabtree believes the production of rare earth metal is a very important, strategic step for the Rare Earth Facility, for Saskatchewan and in establishing a rare earth supply chain in Canada.
(CJWW | Photo: Saskatchewan Research Council)
