“The rare earths used for permanent magnets will remain the driving force of the industry, in particular the increasing demand for hybrids and EVs. Overall ‘new’ rare earths demand for REPMs could constitute 30-40% of demand by volume and 80-85% by value by the end of the next decade.”
IMCOA-Curtin, IREC15
Transport electrification and efficient renewable energy are no longer the distant future – they are today’s reality. This has been made possible with rare earth permanent magnets, which were discovered in the 1980’s and have since become the driver of the transformation we are witnessing today.
Rare earth magnets are made from the lanthanide Neodymium (Nd) and include smaller amounts of other REE such as Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy).
These magnets are vital for the production of high-performance permanent-magnet motors, used in a wide variety of electrical devices. Such applications are already in increasing demand with the growth of sustainable-energy initiatives including hybrid and electric vehicles and direct-drive wind turbines.
Over the past 5 years, through our subsidiary and innovation arm “Innord“, we have developed a proprietary rare earths separation technology, ISR. With a goal of scaling up ISR to commercial production levels, GeoMega believes it can play an important role in supplying rare earth oxides via our environmentally friendly process, in a strategic and safe jurisdiction.
Our focus is first to develop a REE refining capacity which will be critical toward developing any new REE mines in North America in the future. This same technology is also applicable to recycling of rare earth magnets which are becoming more available as they penetrate every aspect of our daily life.
Derisking through production & gradual scale up to mitigate technical risks!
A group of 16 naturally occurring elements with unique chemical and physical properties. Not as rare as their name might imply but difficult to find in economic concentrations and even more difficult to separate and purify into individual elements of high purity.
REE are used in hundred of applications and their demand is growing every year. The main demand driver are the permanent magnets which are used in renewable energy applications such as wind power and in the electrification of transportation.
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Geomega Resources Inc. Corporate Office
75 boulevard de Mortagne
Boucherville, QC, J4B 6Y4
Tel: 450-641-5119
For investor relations inquiries, please contact:
Kiril Mugerman (President & CEO)
kmugerman@geomega.ca
Tel: 450-641-5119
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