The MOU, says Defense Metals, provides a framework for the parties to leverage their respective capabilities and interests in the supply and processing of rare earth materials that are especially critical to the production of rare earth magnets.
Defense Metals is currently developing the Wicheeda REE deposit in British Columbia, estimated to contain over 34 million tonnes of measured and indicated resources grading 2.02% total rare earth oxides (TREOs), for nearly 700,000 tonnes of TREOs.
SRC represents Canada’s second-largest research and technology organization, and is currently building a rare earth processing facility in Saskatoon that has received over C$100 million in government funding.
“This MOU represents a significant step forward in our goal of becoming part of a secure and sustainable supply chain for rare earth elements in North America,” Defense Metals executive chairman Guy de Selliers said in a news…
