Geomega Resources Inc. (TSXV: GMA) announced that Innord Inc., a private subsidiary controlled by GéoMégA, has successfully produced 99.5 percent+ purity neodymium oxide (Nd2O3) from industrial residues.
As quoted in the press release:
The achieved purity is considered magnet grade and has now been submitted for validation to the magnet industry end user who initially provided the industrial residue. In addition, the Corporation would like to announce the nomination of Jean Demers, P.Geo to the board the of directors of GéoMégA. Mr. Demers has been a director of Innord Inc. since November 30, 2016.
Innord’s proprietary separation of rare earth elements method has been in development now for five years. It was originally based on electrophoretic migration of ions, the Free Flow Electrophoresis (FFE) method, that was successfully demonstrated in 2014 and later scaled up in 2016.
Kiril Mugerman, president & CEO, commented:
It has been a long six months of work but we are finally producing 99.5%+ magnet grade / commercial purity neodymium oxide. This is a major achievement for our team. To be able to produce large volumes of high purity neodymium oxide (Nd2O3) at a competitive operating cost and a low capital cost is a major breakthrough for rare earth separation. We believe our approach of working with the downstream permanent 3 magnet industry will help close the loop in western rare earth supply for the permanent magnet industry while it will de‐risk our ISR Method technology.
With this major achievement we believe that we are one step closer to having rare earth oxides produced once again in North America. The rare earths are already considered as critical materials, and with the recent geopolitical tensions and threats of trade wars in the news, rare earth elements could take center stage once again similar to 2010 and 2011. The long‐term R&D and careful de‐ risking approach that Innord has committed to could be maturing at exactly the right time.