- Search Minerals’ asset portfolio includes significant REE assets that facilitate its direct extracting proprietary technology that has already shown over 90 percent recovery during pilot plant operations
- An offtake agreement was recently made between Search Minerals and USA Rare Earth for 500 tonnes of Nd and Pr per year, creating immediate sales from the Foxtrot and Deep Fox once in full production
- The visionary campaign, known as ‘sprint to production’, guides the company’s decisions and has the stated goal of being in full production by 2025
- Search Mineral’s management team brings decades of applicable experience that boost confidence in the company, including experience in management, geology, metallurgy, and accounting
National policies around the globe are increasingly focusing on electrification. We’ve already seen the largest automakers announce ambitious goals to produce more electric vehicles, while Western governments have committed to a greener future. The European Union aims to be climate-neutral by 2050, a goal echoed by Canada’s long-term strategy to reach net-zero emissions within the same timeframe. These goals from both the private and public sectors create an increasing global demand for the rare earth elements (REE) required for most sustainable technologies — meaning suppliers will need to pick up the pace to meet this growing demand. EVs alone will create enormous demand for these elements, considering 2022 is projected to see automakers ship 34 percent more units than 2021.
China currently dominates the REE market, producing over 85 percent of the world’s rare earth elements. This has made North American and European governments increasingly susceptible to any disruption in China’s supply chain. After all, any supply chain interruptions will directly impact the West’s ability to manufacture clean energy technology. All of this has resulted in the West developing policies that aim to reduce its dependence on Chinese REE production.
Today, the United States is well aware of its over-reliance on foreign sources of REE and has already started to create a domestic supply chain, which includes updating mining laws and prioritizing critical minerals. Additionally, the U.S Department of Defense has awarded a US$35 million contract to MP Materials to build a facility to process heavy rare earth elements (HREE) in California. Canada has also updated its list of the nation’s critical minerals to emphasize REE and HREE as vital to the country’s future. As North America continues to develop its strategic plans for REE and HREE production, it’s clear safer, domestic exploration, development and production will be required.
Search Minerals (TSXV:SMY, OTCQB:SHCMF) is a Canadian mining and technology company focused on building sustainable access to rare earth elements. The company’s patented and proprietary direct extraction process has reduced capital requirements and operating costs when compared to traditional methods. Search Minerals’ key elements are neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb). With surging demand for each element, Search Minerals' asset portfolio and proprietary technology are poised to greatly capitalize on the growing demand.