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Belgrade
23/06/2024
Mining News

Saskatchewan Research Council collaborates with Hung Thinh Group to enhance rare earth metals production

The Saskatchewan Research Council (SRC) has inked a significant five-year agreement with Vietnam’s Hung Thinh Group (HTG) to bolster the production of rare earth metals. This collaboration entails the importation of up to 3,000 tonnes of rare earth carbonate annually to SRC’s Rare Earth Processing Facility, commencing in June 2025.

By securing this steady supply, SRC’s Facility is poised to process and yield approximately 400 tonnes of rare earth metals per year. These metals play a pivotal role in various modern technologies, spanning cellphones, electric vehicles, robotics, and green technologies, as highlighted in a recent press release.

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SRC President and CEO, Mike Crabtree, expressed enthusiasm for the venture, stating, “The production of rare earth metals will develop and stimulate the rare earth industry in North America.” He emphasized the strategic significance of the agreement, affirming SRC’s commitment to supplying REE products globally throughout the decade.

This pioneering project represents North America’s inaugural fully integrated commercial demonstration Rare Earth Processing Facility. Leveraging proprietary technology and expertise in rare earth mineral processing, solvent extraction, and metal smelting, SRC is poised to make substantial strides in the sector.

Backed by significant investment from the Saskatchewan Government, totaling $71 million since 2020, the Facility is positioned to catalyze growth in the resource sector across Saskatchewan and Canada. Acting as a vital component of the mid-stream supply chain, it is anticipated to spur industry investment and foster growth in the region.

SRC, Canada’s second-largest research and technology organization, boasts a global footprint with 1,600 clients across 22 countries. With nearly 350 employees and annual revenue reaching $232 million, SRC is dedicated to assisting clients in solving technology challenges, driving improvements, enhancing productivity, and accessing new markets.

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