Canada's Province Of Saskatchewan To Invest $5.6Mln In Rare Minerals - Prairies Minister

Mohammad Ali (@ChaudhryMAli88) Published September 21, 2022 | 12:00 AM

WASHINGTON (UrduPoint News / Sputnik - 21st September, 2022) The Canadian government will provide C$7.5 million ($5.6 million) in investments to the Province of Saskatchewan to help processing rare minerals, Prairies Economic Development Canada (PEDC) said on Tuesday.

"Today, the Honourable Dan Vandal, Minister for PrairiesCan, announced total funding of $7.5 million to support Canada's first-ever REE processing facilities, located in Saskatchewan," PEDC said in a statement.

Out of the amount, $3.7 million will go to Vital Metals Canada Ltd, which recently opened a new plan in Saskatoon.

The money will buy and install equipment to process bastnaesite concentrate into carbonate, the statement added.

The Saskatchewan Research Council (SRC) will be the second recipient of the Federal investment. Under the assistance, $1.9 million will be provided interest-free to build a new plant enabling processing monazite ore.

Vandal in the same release said Saskatchewan is a leader in mining and the government is continuing to make investments to support the establishment of a domestic rare earth supply chain.