Defense Metals, a Canadian rare earth element (REE) exploration company, and SRC (Saskatchewan Research Council), a leading provider of applied research, development and demonstration services, have signed a Memorandum of Understanding (MOU). Under the terms of the MOU, Defense Metals and SRC will explore potential collaboration to accelerate the advancements of Defense Metals’ Wicheeda REE deposit. This arrangement would allow for a cost-effective, environment-friendly extraction process that would be competitive with other global suppliers. The Wicheeda deposit contains high-grade, light rare earth elements including neodymium and praseodymium, which are key components used in various sectors such as renewable energy, technology, and defense. This collaboration will not only have economic benefits but may also lessen global dependence on rare earths supplies from China. SRC’s well-established facility and expertise, combined with Defense Metals’ promising REE resource, indicate a potentially successful partnership for rare earths processing in Canada.

Canadian mining company, SRC (Saskatchewan Research Council), and Defense Metals have recently signed a Memorandum of Understanding (MOU) aimed at advancing the processing of rare earths in Canada.

The MOU particularizes that SRC will evaluate the benefits of extraction and upgrading methods to enhance the feasibility of Defense Metals’ Wicheeda Rare Earth Element (REE) Project. The project, located in British Columbia, is reported to have significant potential reserves of light rare earth elements.

SRC is expected to combine the company’s extensive experience in mineral processing with Defense Metals’ potential reserves to streamline the process of obtaining high-purity rare earth elements. These elements, which include neodymium and praseodymium, are essential for the production of permanent magnets used in wind turbines, electric vehicles, and defense technologies.

The partnership is set to not only improve Canada’s domestic supply chain of rare earth elements, but could also elevate Canada’s standing in the global rare earth market.

Defense Metals believes its alliance with SRC will help validate and de-risk its Wicheeda project, while SRC expects the partnership to accelerate its capacities in deploying mineral processing technologies in the REE sector.

The MOU follows the Canadian government’s recent efforts to bolster the country’s mining sector, including initiatives focused on the research, development, and processing of critical minerals and rare earth elements.

The partnership between SRC and Defense Metals symbolizes Canada’s commitment to becoming a significant player in the global critical minerals market, offering potential to boost the nation’s economy.