It’s a year of many firsts for Australia’s Vital Metals (ASX: VML; OTC: VTMXF) and its rare earth elements operation in the Northwest Territories.
Following the establishment in 2021 of Nechalacho, Canada’s first rare earths mine, Vital’s Yellowknife-based subsidiary Cheetah Resources will this week ship its first load of mixed rare earth concentrate to a processing facility in Saskatchewan.
David Connelly, Cheetah’s vice-president of strategy and corporate affairs, said the 500-tonne load will be shipped by road or rail from the southern port city of Hay River, N.W.T., to Saskatoon.
“We are excited,” he said. “Strategically, it demonstrates that Northern Canada is emerging as a cornerstone of the critical mineral supply chain for Canada and its allies.”
Vital acquired the near-surface resources at Nechalacho from Avalon Advanced Materials (TSX: AVL; OTC: AVLNF) in 2019.