North American Tungsten Corporation Ltd (NATUF)

[StockRoomBully]

More NWT deals with UK get ready folks

“We have always been confident that our product would be in demand and this agreement secured by Reetec demonstrates the appetite for our product in Europe. The agreement between Reetec and Schaeffler is the first of its kind but we expect many similar announcements to follow.”

Vital is Canada’s first rare earths producer. Its Saskatoon extraction plant, which uses raw material delivered from Nechalacho, doesn’t enter operation until June. Even before the plant comes online, Vital says it is now studying “expanded production scenarios to capture the expected increase in demand from European and US car manufacturers and other customers as the EV revolution continues to increase.”

Tom Hoefer, executive director of the NWT’s chamber of mines, last week told the CBC rare earths mining was making the territory “a player in a big world.”

“Just like diamonds catapulted us into the global diamond field, this is going to push us way out into global recognition of rare earths,” Hoefer told the broadcaster.

Canada’s latest federal budget included $3.8 billion dedicated toward development of a strategy for what Ottawa calls critical minerals – 31 minerals considered important to the country’s economic success and national security.

Rare earths are among them, and last week the federal transport minister travelled to Yellowknife to pledge more critical minerals support, including potential public-private partnerships.

In a news release, the federal government said it would work “closely with affected Indigenous groups to contribute to the development of a domestic zero-emissions vehicle chain.”

https://cabinradio.ca/90834/news/economy/deal-will-take-minerals-from-nwt-to-european-electric-vehicles/