Torngat Metals Ltd., a Quebec-based rare earth development company, has received a grant under the Mining Research and Innovation Support Program administered by Ministère des Ressources naturelles et des Forêts of Québec. The funds will cover up to 40% of a $1.1 million research project aimed at advancing cutting-edge knowledge and rare earth processing technology.

Slated for completion by late 2024, the project is designed to optimize Torngat Metals’ silicate mineral separation process to produce high-quality rare earth concentrate at its proposed mine site and plant in Nunavik.

The project aligns with the PARIDM program’s mandate to support innovative research and development projects that improve the competitiveness of Québec's mining industry, while also advancing sustainable development goals (environmental, economic, and social). Rare earth elements are also identified as critical minerals in the Québec Plan for the Development of Critical and Strategic Minerals 2020-2025.

“With the support of the PARIDM program, this research initiative will help us reach our goal of designing a highly efficient and reliable rare earth concentration plant, which will play a crucial role in unlocking the value of our Strange Lake project. We are investing in strategic research to strengthen our project’s economic attractiveness by presenting a socially and environmentally responsible business case. These efforts tie in with our goal of becoming the most responsible and innovative supplier of rare earth elements, which are essential to the energy transition and the fight against climate change,” said Dr. Dirk Naumann, President and CEO of Torngat Metals.

About Torngat Metals Ltd.

Torngat Metals is a private company based in Canada working to develop the Strange Lake project with a view to safely and responsibly supplying rare earth elements required for high-tech and low-carbon solutions. With operations in Quebec as well as Newfoundland and Labrador, the company aims to be a globally recognized source of light rare earths, a leading supplier of heavy rare earths and the foremost supplier of dysprosium.

Leveraging robust partnerships with Indigenous peoples and local communities, new approaches to minimizing environmental impacts and cutting-edge engineering, Torngat Metals looks forward to playing a pivotal role in the global transition to clean energy. Learn more at www.torngatmetals.com.

About the Strange Lake rare earth project:

The Strange Lake project is located in Nunavik, one of the world's leading mining regions. Its deposits encompass the full suite of light (neodymium, praseodymium) and, most importantly, heavy rare earths (dysprosium and terbium). These elements are essential for the production of permanent magnets needed for high-efficiency motors in electric vehicles, wind turbines, robotics, drones and other cutting-edge technologies.

As part of this project, Torngat Metals aims to develop an open-pit mine site and concentration plant in Nunavik, along with a single-lane access road linking the site to Voisey’s Bay in Labrador and a processing plant in Sept-Îles. The company is on track to complete the project's pre-feasibility and feasibility studies by late 2025 and hopes to start production in 2028.

Contacts:

Media contact
Aline Vandermeer
Director of communications
Aline.vandermeer@torngatmetals.com
514 605-3416

 

Source: businesswire.com

Report Abuse