- Vital Metals (VML) is on track to begin rare earth production at its Nechalacho Project in 2021’s second quarter
- Once production commences, the company will be the first REE producer in Canada, and the second in North America
- The company’s ore sorter is in storage in Yellowknife, awaiting delivery to Nechalacho in March
- Various other equipment and infrastructure are also complete and ready for transportation to the project
- Vital Metals is up 4.35 per cent and trading at 4.8 cents per share
Vital Metals (VML) is on track to begin rare earth production at its Nechalacho Project in 2021’s second quarter.
The company’s rare earth project is situated in Canada’s northwest territories. Vital Metals began drilling at the project on February 16, in order to define a mine plan for stage two rare earth production in 2021.
Earlier this week, Vital Metals’ Canadian subsidiary, Cheetah Resources, signed a definitive mining contract with local company Det’on Cho Nahanni Construction. Under the agreement, Det’on Cho Nahanni will mobilise to Nechalacho in March, to undertake work at the project’s North T Zone.
Vital Metals expects to begin ore sorting operations at Nechalacho during the second quarter of the 2021 calendar year. Once production commences, the company will be the first rare earth elements (REE) producer in Canada, and the second REE producer in the North American continent.
Currently, the ore sorter is in storage in Yellowknife, where it is awaiting delivery to Nechalacho in March. The ore sorter’s supporting substructure has already been delivered to the site, but is awaiting its final placement.
The fabrication of various equipment and infrastructure, such as feed hoppers, conveyors, and stackers is complete. These parts, along with an air compressor, receivers, and dryer, are now being transported to Yellowknife, and should reach Nechalacho in March.
Vital Metals’ Managing Director, Geoff Atkins, commented on the company’s progress towards production.
“It is exciting to see our production equipment at Nechalacho start to take shape and our infrastructure on site will continue to expand over the coming weeks as we receive these items from Yellowknife,” he said.
“Vital and its subsidiary Cheetah Resources are on track to produce rare earth oxide at Nechalacho in the next quarter of 2021, making us only the second producer of rare earths in North America as we start production from the North T deposit in stage one with plans for expanded production from Tardiff,” he added.
Vital Metals is up 4.35 per cent, trading at 4.8 cents per share at 11:29 am AEDT.