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Medallion Receives US Department of Defense Related Inquiries

Feb.11 2020      Source:net

Keywords:REE

 

Vancouver, BC – Medallion Resources Ltd. pursuing North American production of rare-earth magnet metals, announced that is has received inquiries from several rare-earth element (REE) refineries interested in receiving specifications and potential volumes of the Company’s REE concentrate product. These refineries are considering their response to the US Department of Defense’s recent Funding Opportunity Announcement (FOA), directed toward light REE processing and separation.

 

Medallion’s proposed US-based REE process plant is well-suited to provide a high-quality feedstock for separation by either existing or future refining facilities. The Medallion plant will utilize monazite sand, a rare-earth element rich (>50%) by-product mineral which is abundantly available within the United States. The Company’s proprietary process extracts a REE chemical concentrate from high grade monazite sand in a clean, safe and automated operation without the need for mining or upgrading.

 

The Department of Defense’s FOA is seeking proposals to establish or enhance domestic light REE processing and separation capacity under the Defense Production Act (DPA). The estimated government funding contribution for this project is up to US$40 million for accepted proposals and requires matching funding.

 

Medallion’s product, a light rare-earth concentrate enriched in the magnetic metals neodymium (Nd) and praseodymium (Pr), is in short supply outside China. In fact, Beijing prohibits its export to ensure value-add stages are completed within China. By utilizing a domestically available by-product mineral, Medallion’s approach can help provide a key component of the rare-earth value chain outside of China.

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