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September 24, 2020
Momentum continues to build for Canada’s only rare earths minerals development– the Nechalacho project southeast of Yellowknife – which announced this week that a plant to process extracted resource from the NWT is being built in Saskatoon.
Cheetah Resources, the Canadian subsidiary of Vital Metals, is overseeing the mining venture at Thor Lake. Cheetah announced on Sept. 22 that it has signed a binding term sheet “to negotiate definitive agreements” to build a $5.25-million rare earth extraction plant in Saskatchewan. Cheetah aims to have the plant functioning by the third quarter of 2021.
That plant is to be constructed near a Saskatchewan Research Council (SRC) rare earth processing facility being built to produce separated rare earths oxides. On Aug. 27, the Government of Saskatchewan announced $31 million to go toward Canada’s “first rare earth separating facility,” which will be operated by the SRC in Saskatoon.
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