- Vital Metals (VML) has received formal acceptance of its rare earth carbonate sample from its offtake partner REEtec
- VML produced a 12-kilogram rare earth carbonate sample at its Nechalacho project in Canada for REEtec in March 2021, following a definitive offtake agreement
- The product acceptance from REEtec demonstrates Vital has its processes working correctly at Nechalacho
- Vital Metals says the product acceptance from REEtec is an important milestone in its plan to become Canada’s first rare earth’s producer, and the second in North America
- Vital Metals is up 4.46 per cent, trading at 5.9 cents
Vital Metals (VML) has received formal acceptance of its rare earth carbonate sample from its offtake partner REEtec.
The company produced a 12-kilogram rare earth carbonate sample at its Nechalacho project in Canada for REEtec in March 2021, following a definitive offtake agreement.
Under the agreement, Vital Metals will provide REEtec with a mixed rare earth carbonate product containing an annual volume of 1000 tonnes REO over five years. Both parties have the option to increase this by up to 5000 tonnes per annum over ten years.
Following an initial analysis of the material and basic lab testing, REEtec has confirmed the mineral’s purity is well within the agreed upon initial specification, demonstrating its processes are working correctly at Nechalacho.
Vital Metals says the product acceptance from REEtec is an important milestone in Vital Metal’s plans to become Canada’s first rare earth’s producer, and the second in North America.
“Customer acceptance from REEtec is a key milestone for the development of the Nechalacho rare earth project and the construction of our extraction plant in Saskatoon,” said Vital Metals’ Managing Director, Geoff Atkins.
“This achievement demonstrates that we have our processes at Nechalacho working correctly and we can proceed in line with our plans. With the satisfaction of this milestone, the procurement of equipment for our rare earth extraction plant in Saskatoon will proceed.”
The company says production is on track to begin ore sorting in June 2021.
Vital Metals is up 4.46 per cent, trading at 5.9 cents at 11:45 am AEST