TORONTO — The Saskatchewan Research Council has announced it has signed a memorandum of understanding with the Korea Mine Rehabilitation and Mineral Resources Corporation in the area of critical minerals.
The signing took place at the Prospectors and Developers Association of Canada conference in Toronto.
According to a news release from the province, the MOU’s key components include the exchange of information, knowledge and experiences to foster the sustainable development of critical minerals; support for securing the supply chain of critical minerals, especially rare earth elements (REEs) and potash by promoting trade and investment; and support for the strengthening of technical capacity through development of joint co-operative research and development projects in the areas of mineral exploration, mineral processing and mine rehabilitation.
"Global engagement is a key part of reaching Saskatchewan's goal of becoming a rare earth hub through our $31 million dollar investment into SRC's Rare Earth Processing Facility in August 2020," Minister Responsible for SRC Jeremy Harrison said in a news release. "This MOU is one example of how this Facility has already started to establish a hub in Saskatchewan, forming an industry model for commercial rare earth element initiatives and supply chain development.”
"As a world leader in rare earth processing and separation technologies, SRC has much to contribute," SRC President and CEO Mike Crabtree said in a statement. "This MOU will strengthen the current relationship between SRC and KOMIR, continue to bring recognition to Saskatchewan on a global platform and build further opportunities for the growing rare earth industry in the province."
"As we strengthen our cooperation with Saskatchewan and Canada, a leading producer of critical minerals, we wish to promote and support private companies aiming to make successful investments overseas," KOMIR President and CEO Mr. Kyu-Yearn Hwang said in a statement. "Based on the MOU established, KOMIR will continue expanding its services to support private entities."
