Medallion widens search for REE processing site

OREANDA-NEWS. Vancouver-based Medallion Resources will widen its search area to build a proposed rare earth elements (REE) processing facility in the Middle East with planned exports to North America.

Medallion and Arab Mining signed an initial agreement in 2013 to build a plant in the region, which was not extended. But another initial agreement with Oman-based Takamul Investment remains in effect until 30 March of this year, unless further extended.

An exclusivity agreement with Takamul as a development partner only extends to Oman, and Medallion is now free to pursue opportunities and partners elsewhere, it said.

"Over the past year, as demand and prices for rare earth magnet materials has remained strong, we have been re-evaluating jurisdictions within North America to accelerate our monazite strategy," Medallion president and chief executive Don Lay said. "Our selection criteria include access to a skilled workforce, proximity to required chemical re-agents, a favourable transportation network, and amenability to hosting a standard commercial rare-earth extraction process."

Medallion pointed out that it is looking at sourcing near-pure monazite feedstock for its proposed facility and will market a mixed rare earth concentrate rather than fully-separated oxides. It had said this feedstock material — which eliminates the need for a monazite tailings upgrading facility — was unavailable.