The Canadian province, home to copper, potash and uranium mines, is known for its mining prowess.
China controls 95% of the global production and supply of rare earth metals. The near-monopoly allows the country to dictate prices and create uncertainty for end users through export controls.
In the last year, China has placed export controls on some critical metals such as germanium, gallium and antimony, forcing western governments to look for alternatives.
The SRC Rare Earth processing facility has begun production on a commercial scale and expects to hit a production target of 40 tonnes of rare earth metals per month by the end of this year, enough to power half a million electric vehicles. The facility has already tied up with potential clients in South Korea, Japan and the United States.
“Our focus is to remain competitive within the Asian Metals Price Index,” said Muhammad Imran, vice president of the SRC Rare Earth…
