The province said it would be the first of its kind in Canada, adding that it is expected an industry model for future commercial rare earth expansion.
“Saskatchewan’s new Rare Earth Processing Facility will be a catalyst to stimulate the resource sector in the province and across Canada, providing the early-stage supply chain needed to generate cash-flow, investment and industrial growth of the sector,” Premier Scott Moe said in the statement.
Setting an independent domestic rare earth and critical minerals supply chain has become a priority for Canada and, particularly, the United States. Both currently rely on China, which accounts for 70% of global production.
The Asian giant also controls more than 60% of a $14 billion global market for materials used in magnets and motors that power phones, wind turbines, electric vehicles and military devices.
The 69,000 square foot plant will be located in north Saskatoon and will employ about two-dozen people.