ONTARIO – Pele Mountain Resources of Toronto still wants to build Canada’s first rare earth processing centre at its Eco Ridge site near Elliot Lake. To reflect what it says is growing international interest in the project, the company has renamed its operating subsidiary Eco Ridge Development Corp. (ERDC).
Pele’s strategy is to import monazite to feed its processing plant, thus saving considerable time and capex commitments compared to mine development. The metallurgical methods for processing monazite are well established, allowing for reduced technical risk and shortened ramp-up times. The fall of rare earth prices over the last five years has discouraged new production.
The 43-101 compliant resources at Eco Ridge comprise 22.74 million indicated tonnes grading 0.045% U308 and 1,606 ppm total rare earth oxides containing 22.55 million lb of uranium oxide and 80.51 million lb of TREO. The inferred category is 36.56 million tonnes grading 0.47% U3O8 and 1,554 ppm TREO containing 37.62 million lb of uranium oxide and 125.25 million lb of TREO.
Learn more about rare earths at www.PeleMountain.com.