checkAd

Rare Element Resources Reports Progress on U.S. Department of Energy Funding for Rare Earth Separation and Processing Demonstration Plant

Nachrichtenquelle: Business Wire (engl.)
17.05.2021, 14:30  |  295   |   |   

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to provide an update regarding the progress of pre-award negotiations with the U.S. Department of Energy (“DoE”) relating to the Company’s selection, as a member of a consortium of companies, for a potential financial award of $21.9 million for the engineering, construction and operation of a rare earth separation and processing demonstration plant.

As previously reported, RER, along with partners General Atomics, an affiliate of Synchron, the Company’s largest shareholder, and its affiliates, and LNV, an Ardurra Group, Inc. company, as engineering and construction subcontractor, received notice on January 20, 2021 that it had been selected as a potential award recipient, subject to finalization of pre-award negotiations. Since that time, the DoE, General Atomics, and the Company have been progressing the pre-award documents required for the award finalization, including the final statement of project objectives, project budget, and accompanying timetable. Additionally, the Company confirmed the planned demonstration plant will be located in Wyoming, near the Company’s Bear Lodge Project. The DoE funding represents one-half of the total estimated costs for the demonstration project and is contingent upon the completion of definitive documents, which is expected to occur late in the second quarter or early in the third quarter 2021.

In preparation for the final demonstration plant design, the Company is advancing its proprietary rare earth element processing and separation test work undertaken by Umwelt-und Ingenieurtechnik GmbH Dresden (“UIT”), an affiliate of Synchron, and a General Atomics affiliated company. This test work will confirm the operational flow sheet and parameters to be incorporated into the plant design, including final equipment sizing and reagent requirements. The data will also be used to support the demonstration plant permitting and licensing.

Randall Scott, President and CEO of the Company, stated, “We are very pleased that our work with the DoE in finalizing the pre-award negotiations is progressing well as we remain focused on its timely finalization. At the same time, we are working closely with UIT to complete the test work for the final process flow sheet for the demonstration plant, which will be designed to produce commercial-grade neodymium/praseodymium (“Nd/Pr”) rare earth high-purity oxide for use in producing high-strength permanent magnets. Our innovative patented separation process continues to be further optimized and involves significantly fewer steps with attendant environmental benefits and expected lower operating and capital costs compared with current technologies”.

Seite 1 von 4


Rare Element Resources Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

Rare Element Resources Reports Progress on U.S. Department of Energy Funding for Rare Earth Separation and Processing Demonstration Plant Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to provide an update regarding the progress of pre-award negotiations with the U.S. Department of Energy (“DoE”) relating to the Company’s selection, as a member of a …

Community

Nachrichten des Autors

Titel
Titel
Titel
Titel