Supply-demand imbalance looms for critical battery raw materials by 2030: McKinsey
By 2030, McKinsey estimates that worldwide demand for passenger cars in the BEV segment will grow sixfold from 2021 through 2030.
Defense Metals (TSXV: DEFN) says metallurgical testing of samples from its Wicheeda rare earth project in British Columbia has shown that a 50% total rate earth oxide (TRE) concentrate can be made. The recovery rate was 80%. The tests were carried out by SGS Canada.
“Continuing positive results from our technical studies suggest that our wholly-owned Wicheeda REE project has the potential to become the next producer of rare earth elements in North America accounting for a significant amount of the rare earths needed for the western world’s future magnet metal production,” said Defense Metals CEO Craig Taylor in a release.
Beginning in 2018 up to the present, Defense has spent about C$5 million on metallurgical test work and the creation of flowsheets for the Wicheeda project. Recent studies optimized the milling and hydrometallurgical processes and the response of 21 variability samples representing different rare earth element (REE) grades, lithologies and locations within the deposit.
The results of the metallurgical tests will be included in the prefeasibility study due to be completed in the second quarter of 2024, said Taylor, and then work would begin on the feasibility study.
The Wicheeda project has measured and indicated resources that total 34.2 million tonnes grading 2.02% TREO and contain 699,000 tonnes of TREO. The inferred portion is 11.1 million tonnes at 1.02% TREO and contains 113,000 tonnes.
2 Comments
Rare Earths Investor
DM is in a race with all the other CAD RE mining wannabees (and those in the US and S. America). Bottom line, it’s about getting that strategic and/or major private backing coupled with actual offtakes. This is where long-term RE investors will become interested. Good luck to all – REI
Andy
Yes! Go Defense ! Let’s make BC the TREO capital in Canada!