A feasibility study produced for the project was filed in March 2023 outlining a construction period of three years at a cost of $1.16 billion to develop a mine with a 10-year life.
The accident took place on Jan 26, 2023 at the Diavik mine, which is located about 200 km (125 miles) south of the Arctic Circle in the Northwest Territories.
Coal deposits are known to be a potential source of REEs, and work is underway in the US and elsewhere to separate and concentrate REEs during coal processing