Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Wallace Refiners) – Vital Metals (ASX: VML) today announced the commencement of mining operations at its Nechalacho rare earths project in Northwest Territories, Canada with the mining fleet mobilising this week.
The company said that the contract mining fleet mobilises to Vital’s North T Zone deposit at Nechalacho commencing mining operations. Contractor Det’on Cho Nahanni Construction will complete site establishment, mining, crushing, screening and other works at Nechalacho.
All plant and equipment, including an ore sorter and associated infrastructure, will arrive at site by the end of March in preparation for rare earth production at Nechalacho.
Vital added it is on track to become the first REE producer in Canada and the second REE producer in North America.
Vital Metals’ Managing Director Geoff Atkins said, “We have been progressively achieving all the steps necessary to commence mining and rare earths production at Nechalacho over the past 12 months, and mobilisation of the mining fleet is another important milestone. We are excited to be commencing operations at Nechalacho rare earth project and following our recent $43m raising, proud to be fully funded to become Canada’s first rare earth producer.”
Vital and its subsidiary Cheetah Resources held a ceremony on 20 March 2021 marking the commencement of mobilisation.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.