“The grant of this patent acknowledges that our unique process has been recognized and protected.” said Kiril Mugerman, President & CEO of Geomega. “The Montviel metallurgy research executed in 2014 and 2015 (See news releases from April 29, 2015 and May 20, 2015) led to these patents, and set the framework for how Geomega operates today committed to lowering the environmental footprint of processes to extract and separate REE, reagent regeneration and minimizing the amount of effluents and solid waste that are generated. Geomega is in discussions with potential partners to use this expertise in metallurgical treatment of REE to help develop a western supply chain.”
“We recently began a collaboration with Jobmaster Magnets and it quickly became very clear that Matt can bring significant industry knowledge and expertise to the Corporation as we are moving towards production. His understanding of the magnet supply chain is critical, especially in the current global environment where industrial supply chains are being redefined. As North America is looking to bring rare earths downstream processing back home, Matt’s experience with magnetic product design for various industries from aerospace to automotive is important for Geomega to fit in that supply chain. Additionally, Matt’s experience in operation management, setting up the required ISO Quality management programs and internal audits will be vital in the starting up of the first rare earths recycling plant.” added M. Mugerman.
As indicated in the April 20, 2020 press release, the Corporation obtained the natural product number (“NPN”) and all the approvals from Health Canada in order to manufacture and distribute hand sanitizer using the WHO-recommended formulation. The modifications have now been completed and production has begun. The production is from the Corporation’s Pilot Plant and allows Geomega to produce up to 675 liters per week. Although, since there is a significant lack of supplies in the market, production capabilities will depend on availability of raw materials from local distributers. The Corporation will be securing additional supply of raw material and focus on distributing its hand sanitizer product to local retirement homes, hospitals, pharmacies and distributers in the province of Québec. The Corporation will be donating 20% of its hand-sanitizer production to local long-term care homes and other charities who are helping the most vulnerable in our society during this pandemic. The Corporation would like to thank local suppliers who were able to assist and support us during this quick transition.
“Geomega’s chemical processing team has proven once again its skill to utilize its expertise with evolving market conditions. I am proud of our team that shows flexibility, motivation and creativity, especially during a difficult situation like we see globally today. Geomega can assure its shareholders that these modifications to the pilot plant will in no way impede the progress of building the much larger demonstration plant located in nearby St. Bruno, Quebec. Geomega strives to become Canada’s first rare earth oxide producer, using recycled magnet waste, making Canada one of the few countries outside of Asia to be able to do so. Geomega has continued to advance even under recent difficult social distancing measures and is progressing successfully in the engineering work with Hatch. Upon engineering being completed, ordering the long lead items for the facility will be a priority. Geomega had recently secured project debt financing of $1.72M from the Quebec Government this February (see news release dated February 7, 2020) which has effectively fulfilled the required capital to complete construction of the Demonstration Plant. Geomega, in conjunction with the Quebec Government, has a very clear objective to establish Quebec as a hub for a clean technology and sustainable rare earths refining industry, self reliant and not dependant on other countries for key materials. In light of recent events and supply shortages, as highlighted by reported delays in medical ventilators construction due to lack of permanent magnets (see full article here), this has never been more critical. Geomega looks forward to further engagement with end users and Governments on rare earths recycling and establishing a sustainable supply chain based right here in Quebec, Canada.” Commented Kiril Mugerman, President & CEO of Geomega.
Geomega Resources Inc. reports that it has received the TSX Venture Exchange approval to effect an expiry date extension of 4,451,000 share purchase warrants and to also reprice 1,302,778 share purchase warrants.
“We are very excited to work together with Jobmaster Magnets on setting an example and becoming a leader in magnet collection and recycling. Jobmaster Magnets is one of the largest and oldest Canadian magnet suppliers with over 35 years’ experience in the industry. They serve various industries including the automotive and manufacturing sectors, both major users of magnets. Jobmaster Magnets’ clients, in Canada and abroad, will be able to benefit from having their magnets recycled in a clean and sustainable way right here in Canada while preserving this critical resource from going to the land fills. As outlined in the U.S. Federal Government open funding opportunity for REE separation and processing project that Geomega is applying for, recycled feedstocks are being considered as a potential source. This first collaboration agreement is a step forward to establish a rare earth magnet recycling industry in North America to produce a consistent, reliable and sustainable supply of the required magnet focused rare earths (Nd, Pr, Dy, Tb) for future government and commercial needs.” commented Kiril Mugerman, President & CEO of Geomega.
“Japan will conduct the financing through a government-owned resource investment company: the Japan Oil, Gas and Metals National Corp., or Jogmec. Legislation will be revised to allow it to take stakes in rare-earths smelting projects. Processing facilities, which have a large environmental impact, are now primarily concentrated in China. And Beijing has employed its dominance in rare earths to exert pressure before. In 2010, it quietly cut exports to Japan amid a dust-up over a territorial issue. Jogmec will also take steps to ensure Japan’s stable access to cobalt, a mineral used in lithium-ion batteries, to counter Chinese enterprises securing rights in Congo. The resource company could spend up to around 20 billion yen ($182 million) in all on both efforts.”
“Canada’s Quebec backs Geomega Resources rare earth recycling project” Jeff Lewis, Reuters. Funds to be used for the rare earth magnet recycling demonstration plant in St-Bruno-de-Montarville, Quebec
“We are very grateful for the support we received from the Government of Québec. With this debt financing from IQ and MEI we have effectively completed our main project financing initiatives…” commented Kiril Mugerman, President & CEO of Geomega.
CEO Kiril Mugerman says, “With the joint action plan on critical minerals collaboration that was signed between United States and Canada (last week), 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.”
As described in our news release titled, “Geomega selects Saint-Bruno-de-Montarville in Quebec for the Rare Earths recycling demonstration plant”, we have announced the location for our rare earth magnets (REM) recycling demonstration plant using its proprietary ISR technology and signed a long term lease for an industrial site in Saint-Bruno-de-Montarville.
Look and learn about the location of “St-Bruno” in these images from Google Earth.
“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.