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Geomega and Jobmaster Magnet Canada Inc. Enter into an Agreement for Rare Earth Magnet Recycling

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“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.

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CAMBRIDGE HOUSE

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Why are we doing all this? It’s the circular economy principle. Once we are doing this recycling, it closes the production cycle as Europe and North America are trying to do right now. I’ll finish by saying that rare earth prices are low, but that’s what drives demand and demand is positive for innovation and recycling. That’s where we are today in the rare earth cycle. Low capex, low opex, small footprint, clean process, and cash flow — these are the objectives of the company in the near future. Thank you very much.

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“The sooner we produce oxides in North America, the faster we will attract companies capable of making alloys,” Kiril Mugerman

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However, Quebec and Canada are light years away from having an integrated industry, says Kiril Mugerman, president and chief executive officer of Ressources Géoméga, an SME from Boucherville that owns the Montviel rare earth deposit. , in the Nord-du-Québec region.

“The sooner we produce oxides in North America, the faster we will attract companies capable of making alloys,” he insists.

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Looking north from St-Bruno

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” Most importantly is the access to major seaways with access to the Port of Montreal, 20 minutes, which is the largest container transhipment centre in the Great Lakes system – Saint Lawrence Seaway and a direct link to Europe and the East coast of the United States and the marine terminal in Contrecoeur which is only 30 minutes away. Furthermore, the region is served by Canadian National (CN) and Canadian Pacific (CP) railways. The region is already host to the Canadian Space Agency and several major international firms. “