Medallion Resources (MDL.V) has provided a response to the Request For Information issued by the US Department of Defense which is considering its options to secure a safe supply of Rare Earth Elements for the domestic industries and for national security reasons. Considering Medallion is a Canadian company (and Canada is considered to be a domestic source) and should be able to initiate the production of REE concentrate relatively fast, we hope the DoD will see the value in using monazite as base input for the production of REEs as it would be easier and less capital intensive than rekindling the interest in North American mining projects. And while you may or may not agree with the policies of the current US government (Denmark doesn’t appear to be impressed these days), the focus on North American sourced REEs is definitely a positive feature for Medallion resources as it’s currently considering whether it should build its plant in Canada or the US.

Meanwhile, the Saskatchewan Research Council has now completed the major testwork program on the extraction process and Medallion will now use this data to approach the other parties of the supply and logistical chain (including transportation firms that will have to move the input and output around and waste management firms that will have to deal with the waste after processing the monazite).

Disclosure: The author has a long position in Medallion Resources. Medallion is a sponsor of the website.

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