The audio has been edited form its original presentation to include more accurate, and better detailed information regarding the processing of ore as it pertains to rare earth elements.
Projected to open in 2030, the rare earth element mine’s primary minerals of interest would be neodymium & praseodymium oxide (NDPR). These elements provide materials needed for the manufacture of rare earth magnets, electric vehicles, cell phones, medical equipment and a wide array of other technology. Strengthening the prospect of this development, the BC Government’s Critical Minerals Office (CMO) announced on February 23rd that the Wicheeda Rare Earth Element Project has been selected, with two other mines in the Province, as an advanced project. This identifies projects for early co-ordination support as they prepare for environmental assessment and future permitting processes. President & CEO of Defense Metals, Mark Tory, joined us over the line to chat about what this designation means for the local project from his perspective.
If the project reaches production, it is estimated to generate about 400 construction jobs and 200 permanent jobs. This activity brings up the question of Northern BCs potential capacity to process the mined minerals in a downstream industry. Tory confirms that about 90% of the metal conversion, and processing & refining relating to rare earth metals occurs in China, and there is an interest in developing that capacity in Canada.
Despite his position as a producer, and not a finished product manufacturer, we asked Tory about how that secondary industry could be encouraged. Tory asserted a fundamental aspect, “There needs to be a surety of supply,” he continued, “not only just outside of China but also outside of the US.” For localized refining of the mineral to happen, investment would also have to occur, on that front Tory mentioned EU relations, “The recent strengthening of relationships with the EU and Canada is also a real positive in the potential for us to go to the EU and the EU coming to us and invest in that downstream processing.” In short, the raw material would have to appear in abundance before investments in refining that raw material appear.
Recently returned from a trip to Europe as part of a trade delegation, Tory has a to-do list for moving the Wicheeda project farther down the road. His agenda includes a Bankable Feasibility Study (BFS), getting results from a Pilot Test Plant via the "benefaction" process, and attending the PDAC conference in Toronto where logistics solutions & investment may be discovered. Fitting its piece into the Province’s larger economic puzzle, only time will tell whether elements below the surface change the fortunes of Bear Lake or not.
- Ian Gregg, CFURadio 88.7FM, Due North News, Local Journalism Initiative Reporter
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