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BEATRICE, Neb., June 14, 2017 -- Rare Earth Salts (´RES” or the “Company”), a leading materials technology company, today announced the successful commissioning of its first commercial separations unit for the production of low cost, separated and purified rare earth oxides. The Company expects to ramp up its production to reach a rate of 18 metric tons per month using its proprietary technology at its new custom production facility in Nebraska. Sales discussions are currently underway.
“Our fully scaled and operational technology will allow us to demonstrate a significant cost advantage versus solvent extraction in China,” said Dr. Joseph Brewer, Chief Executive Officer of RES. “The made in the USA solution will help meet escalating rare earth customer demand for a reliable alternative to Chinese production at competitive pricing.”
RES’ initial production feedstock is sourced from recycled fluorescent light bulbs material supplied through the Company’s commercial agreement with Rare Earth Recovery Sciences (‘RERS’), making the production a 100% domestic solution. The Company has also acquired light and heavy rare earth concentrates for separation allowing RES to produce all four magnet-oriented oxides (neodymium, praseodymium, terbium, and dysprosium) and to become the first producer of heavy rare earth oxides in the United States in more than 20 years. The Company will also produce marketable quantities of Yttrium, Europium, Cerium, and Lanthanum. Based on initial testing results of its commercial process, the Company’s produced rare earth oxides have a standard purity of 99.9%, but can be efficiently modified as needed to meet customer specifications.
RES expects a continuous increase in production to meet customer demand. In addition to its commercial agreement with RERS, the Company has formalized agreements with Minera BioLantanidos and Medallion Resources. These agreements solidify a long-term, low cost and environmentally friendly rare earth supply chain outside of China. RES’ large-scale production from Minera BioLantanidos’ and Medallion Resources’ material is expected in 2019.
RES’ proprietary separation technology is cost efficient and environmentally friendly. The Company recycles its manufacturing inputs so virtually no waste is created, making RES the most sustainable producer of rare earth oxides globally.
About Rare Earth Salts
Rare Earth Salts is a leading materials technology company and producer of rare earth oxides. The Company has developed a patent pending industrial technology proven to efficiently and economically separate and refine all 16 Rare Earth Elements to high purity. The process is environmentally friendly and demonstrates a significant cost advantage versus standard processing. For more information visit: www.rareearthsalts.com.
Contact: Cameron Davies Chief Operating Officer Rare Earth Salts 416-420-2861 [email protected] Alastair Neill Director, Business Development Rare Earth Salts 416-670-2868 [email protected]
