What does the REE supply chain look like?
Like any natural resource, Rare Earth Elements (REEs) need to be extracted and refined before they can be used in industrial applications. Here’s what Search Minerals is doing to build out that supply chain.
Search Minerals has a 500 t offtake agreement in place with USA Rare Earths. Search is also working with the Saskatchewan Research Council (SRC) to test further separation and metal-making processes.
We welcome further discussions around supply partnerships as we move toward large-scale production in 2023. Please contact firstname.lastname@example.org for more information.
What does the global REE supply chain look like?
Most of the global REE supply chain is based in China, which produces 85-90% of the world’s REEs. China’s economic development strategy has logically leveraged its REE market dominance by offering price incentives to companies that relocate their downstream manufacturing to China. As a result, Chinese industry currently consumes 65-70% of the world's REEs and that percentage is growing.
Search aims to build a secure, sustainable rare earth supply chain in Newfoundland and Labrador for Canada and our allied partners.
What is Canada doing about the REE supply chain?
The 2022 federal budget made strong commitments toward supporting the REE industry with up to $3.8 billion to be allocated over eight years. This funding – including allocations for research, development, Indigenous partnerships, regulatory processes, and supporting Canada's global leadership in critical minerals – will help implement Canada's Critical Minerals Strategy. The strategy is designed to ensure sustainable access to 31 minerals including rare earth elements. It will secure Canada’s own minerals needs and position the country as a global supplier of choice for these minerals by creating a stable domestic supply chain. Search Minerals is proud to align with all six pillars of this strategy, including:
- Economic Development and Competitiveness: We’re helping to grow the local and national economy while ensuring a stable supply of rare earth elements for industries across Canada, the USA, and beyond.
- Advancing the Participation of Indigenous Peoples: We’re proud to work with the NunatuKavut Community Council and have had an exploration agreement in place since 2012. We offer two annual scholarships for indigenous students and participate in regular meetings for updates and engagement.
- The Environment: Our proprietary process is environmentally friendly, creating dry, stackable residue with no tailings ponds. Physical beneficiation takes place at the mine site, while chemical processing is moved off-site to minimize impact.
- Science, Technology, and Innovation: With support from the provincial and federal governments, plus collaboration agreements with industry partners, we’re advancing mining technology while increasing supply chain access.
- Communities: We don’t just operate in southeast Labrador – we’re part of the community. We own our facility in St. Lewis, hire from the community and surrounding area, and we hold regular town council meetings for engagement.
- Global leadership: We’re attracting foreign investment from Canadian allies to support a secure rare earth supply chain, and we’re leading the way with responsible business practices and environmentally conscious processes.
Next: learn more about the value of REEs.