The money, from Prairies Economic Development Canada, will allow the Saskatchewan Research Council to establish a bastnaesite processing unit to make ingots that can be used to produce magnets for electric vehicles
Cyclic’s deal with Solvay validates its new Ontario plant’s market potential, while SRC’s rare earth sourcing deal with Vital Metals is a win for Canada over China
The new plant will help Cyclic scale up its technologies en route to building a full commercial plant with eight times greater capacity by 2025
