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CEO Quote 2020-01-14 NR

CEO Quote 2020-01-14 NR

“With the joint action plan on critical minerals collaboration that was signed between United States and Canada on January 9, 2020 we are starting to see the first concrete steps by both countries in securing supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defence, and clean technology. We envision that our demonstration plant in St-Bruno can become the center of Quebec’s rare earths hub that would bring these critical materials back to North America. We are now finalizing the details of the financing package for the demonstration plant and information will be provided shortly.” commented Kiril Mugerman, President & CEO of Geomega.

Learn more about this joint action plan between Canada and the USA here,

Canada and U.S. Finalize Joint Action Plan on Critical Minerals Collaboration

https://www.canada.ca/en/natural-resources-canada/news/2020/01/canada-and-us-finalize-joint-action-plan-on-critical-minerals-collaboration.html January 9, 2020Ottawa, OntarioNatural Resources Canada Canada and the United States share a mutual interest in improving critical mineral security and ensuring the future competitiveness of Canadian and U.S. minerals industries. Collaboration in this area could attract investment to Canadian exploration and mining projects, as well as spur job creation and economic growth in various downstream industries.

“On December 18, 2019, Canada announced that it joined the U.S.-led, multi-country Energy Resource Governance Initiative, which aims to promote secure and resilient supply chains for critical energy minerals. The Initiative complements the Government of Canada’s longstanding efforts to increase transparency in the extractive sector and ensure developing countries have the capacity to manage natural resources in line with the UN Sustainable Development Goals. Canada’s partnership in the initiative is an early demonstration of our commitment to cooperate with the U.S. under the broader Action Plan.”

“Canada is an important supplier of 13 of the 35 minerals that the U.S. has identified as critical to economic and national security. We have the potential to become a reliable source of other critical minerals, including rare earth elements, key components in many electronic devices that we use in our daily lives. Canada is currently the largest supplier of potash, indium, aluminum and tellurium to the U.S. and the second-largest supplier of niobium, tungsten and magnesium. Canada also supplies roughly one quarter of the uranium needs of the U.S. and has been a reliable partner to the U.S. in this commodity for over 75 years.’

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