REGINA — Canada’s only rare earths mining company is pausing all construction at its
The company had planned to complete a calcine circuit that would produce an intermediate rare earths oxide product for potential sale to a third party, but it said it has been unable to secure such sales on “commercially satisfactory terms.”
It said a review of the economic viability of mining and processing ore at North T, a deposit in the
The company said it intends to retain
Prior to pausing construction,
The company has spent roughly
He added the company has been unable to find an immediate market for the products.
“There is no economic imperative to complete this demonstration project at the current time; however the
“North America needs independent downstream processing to further enable the transition to the green economy and Vital is looking forward to working with like-minded parties to deliver a completed project.”
While pausing the construction raises questions about the future of critical minerals in
It is currently building a rare earth process facility that aims to help spur the sector by being part of an early-stage supply chain.
“We have companies, industry and governments from around the world who are engaging with us. This supply chain is something that's unique and is going to be critical going forward in the rare earths industry globally,” Nyirfa said.
Earlier this year,
The federal government has promoted critical minerals as being essential for moving toward a greener and more digitally focused economy.
Critical minerals include lithium, cobalt, copper, nickel, zinc and rare earth elements. They are used for batteries, solar panels, computer chips and electrical transmission lines.
This report by The Canadian Press was first published
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