This achievement marks a significant milestone in the province’s efforts to diversify its economy and become a leader in the global rare earth metals market. The SRC’s success in producing these metals comes from their innovative approach to extraction and processing, which involves using a combination of hydrometallurgical and pyrometallurgical techniques. This innovative approach allows them to extract rare earth metals from various sources, including mining, recycling, and even industrial waste.
This facility, located in the town of Estevan, is a significant investment in Saskatchewan’s future, creating jobs and boosting the economy. The facility is expected to produce 10,000 metric tons of rare earth metals annually, which is a substantial amount considering the global demand for these materials. The facility is expected to generate significant revenue for Saskatchewan, with an estimated annual revenue of $1 billion.
* The Rare Earth Processing Facility (REPF) is a crucial component of the global effort to transition to a sustainable energy future. * The facility will be able to process 400 tonnes of NdPr metals per year, which is enough to power 500,000 electric vehicles. * The facility is expected to be fully operational in early 2025.
SRC’s Rare Earth Processing Facility has received money from the province totaling $71 million, with another $30 million coming from the Government of Canada since 2020. The province says this funding has been instrumental in helping SRC construct a vertically and laterally integrated “minerals to metals” facility, equipped with state-of-the-art, proprietary technology developed by SRC.
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