Critical Metals

TSXV:GEM

Pele Mountain Resources Inc. (TSXV:GEM) announced that it is going ahead with its monazite recycling strategy to initiate the sustainable development of a low-cost, early-to-market, Canada-based rare earths supply chain.

Pele Mountain Resources Inc. (TSXV:GEM) announced that it is going ahead with its monazite recycling strategy to initiate the sustainable development of a low-cost, early-to-market, Canada-based rare earths supply chain.

As quoted in the press release:

Pele plans to source monazite from mineral sands mine tailings in countries that embrace sustainable mining practices and are allied trading partners with Canada. Pele’s objective is to recycle the monazite to produce mixed rare earth concentrates that will be separated into high-purity, individual rare earth oxides that can be used in downstream value added processing and manufacturing.

Pele President Al Shefsky stated:

Our monazite recycling strategy represents a transition, not into an entirely new field but rather in pursuit of our same goal by different means. Despite increasing demand for certain rare earths and billions of dollars invested to develop mining operations and processing facilities, we are not aware of any new hard-rock rare earth mines outside of China that have achieved profitable production, due to high capital costs and technical challenges associated with new process development and operation.

Click here for the full Pele Mountain Resources Inc. (TSXV:GEM) press release

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