Canada is poised to break into the exploration of “critical rare earths” including heavy rare earth elements, the Calgary Herald reported.
The news follows the launch last year of the Canadian Rare Earth Elements Network, an industry-led group aiming to secure 20 percent of the market for critical rare earth products by 2018.
As quoted in the market news:
Canada has more than 200 exploration projects searching for rare earth elements, representing more than half of the world’s exploration projects on REE.
While Canada does not currently produce any rare earths, it could be a key player over the next four to six years, the briefing notes say.
Eleven of the Canadian projects are considered to be at an advanced stage of development, according to federal officials, with seven containing elevated concentrations of the valued “heavy” rare earths.