SMM6, May 5: according to the Mining website, Geomega Resources is currently improving its ISR technology for the extraction and separation of rare earth elements, hoping to become the first rare earth recycling enterprise in Canada by 2020. It has also become the only rare earth recycling company outside China.
Kiril Mugerman, the company's chief executive, said Geomega is a uniquely positioned rare earth company and has now successfully developed ISR technology that could replace solvent extraction in the future.
Geomega is currently discussing financing with relevant strategic partners, institutional groups and governments. The company hopes that by the time the front-end engineering research is completed in July 2019, financing will be in place to build a demonstration plant.
In addition to developing environmentally friendly rare earth recovery methods, Geomega has Quebec's largest bastnaesite rare earth mine, as well as the Montveil niobium mine in the Abitibi region of Quebec.
It is not just Geomega, that now miners all over the world see the decisive power of rare earths in the future. Rare earths are made up of 17 elements and are essential raw materials for many highly sophisticated manufacturing industries.
Lynas Corp, an Australian rare earth producer, has previously set up a rare earth separation plant in the United States with Blue Line Corp of the United States, aiming to become the only large producer of medium and heavy rare earths outside China.
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