Strange Lake rare earth project. Credit: Torngat Metals
Torngat Metals, a Quebec-based rare earth development company, announced Wednesday the appointment of Yves Leduc as chief executive officer (CEO) and Olga Kovalik as chief operating officer (COO).
Torngat is advancing its longstanding Strange Lake rare earths project in the the province's northeast toward both a feasibility study and permitting. Strange Lake could produce up to 55,000 tonnes of ore per day over 30 years, and give Canada its first rare earth mine.
With these strategic appointments, Torngat Metals said it is reinforcing its commitment to strengthening the critical mineral supply chain and ensuring the responsible development of its Strange Lake project—one of the world’s most significant untapped sources of heavy rare earth elements.
Leduc is succeeding Dirk Naumann, who has decided to retire after successfully leading the company through its exploration phase. Leduc is a seasoned executive with extensive international experience in strategic leadership, manufacturing, marketing, new product development, and operational excellence.
Until recently, he served as the CEO of Velan Inc., a global valve engineering and manufacturing company. He then became a partner at Idealist Capital, a private equity impact fund having raised C$400 million in capital commitment focused on accelerating the energy transition. He has a track record of driving growth in industrial and technology-driven businesses, and his expertise in scaling operations, optimizing market strategies, and introducing innovations will be instrumental in propelling Torngat Metals toward production and securing its position as a key supplier to high-tech and clean energy industries.
“I am thrilled to join Torngat Metals’ highly skilled team at such a pivotal time,” Leduc said in a news release. “This project is more than mining development—it’s a catalyst for economic growth in Canada and a key driver of the energy transition. The Strange Lake project creates a unique opportunity to strengthen partnerships with local and Indigenous communities and for Quebec, Newfoundland and Labrador to collaborate in building the foundation for a new industrial era. Together, we have a unique opportunity to develop a responsible and independent rare earth supply that will shape the future of critical minerals.”
To drive the company’s engineering, construction, and operational readiness, Torngat has also appointed Olga Kovalik as COO, marking the creation of a key new leadership role focused on project execution and operational excellence. With over 25 years of experience in the mining sector, Kovalik has successfully managed large-scale mining operations with a strong emphasis on safety, environmental stewardship, lean manufacturing, and sustainable practices. Until recently, she was Chief Project Officer at Vale Base Metals.
“This project presents a rare opportunity to build a mining operation that is not only efficient and competitive but also grounded in environmental responsibility and strong community engagement,” Kovalik said. “I look forward to contributing my expertise to ensure safe, sustainable, and high-performing operations as we move forward.”