Geomega Successfully Completes Rare Earths Pilot Plant Testing
January 12 2021 - 6:30AM
Geomega Resources Inc. (“
Geomega” or the
“
Corporation”) (TSX.V: GMA) (OTC: GOMRF) a
developer of clean technologies for the mining, refining and
recycling of rare earths, is pleased to announce the successful
completion of testing and optimization of its Rare Earths Pilot
Plant (“
Pilot Plant”), located at the National
Research Council Canada facility in Boucherville, Quebec.
This is the 2nd generation pilot plant after the
completion of the mini pilot in April 2019 (see full press
release). Significant engineering work was performed which
confirmed the validity of the Corporation’s recycling technology of
rare earths from magnets (see full press release). Geomega is
pleased to report that the next engineering phase will begin
shortly followed by the ordering and receipt of equipment for the
construction of the larger demonstration plant located in
Saint-Bruno, Quebec.
Four complete rounds of testing covering the
entire recycling process were completed to date and these have
confirmed the efficacy of the Corporation’s technology to produce
rare earths. Pilot Plant testing has also validated and facilitated
equipment selection for the demonstration plant. In addition, an
important part of the Pilot Plant was to validate process
efficiencies:
- Rare earths recoveries >90%,
- Main reagent regeneration around
90%
- Product purities (>99.5% REO)
- Heating and cooling design update to
confirm process schedule (3 batch process per 8-hour shift).
In addition, two new features were successfully
tested and integrated into the Corporation’s recycling process:
- Boron – a small although important component in NdFeB magnets
(Neodymium Iron Boron) can now be recovered as a by-product of the
process. This will have a positive impact on both energy efficiency
and anticipated revenues of the project.
- Hydrogen – an emerging clean energy
fuel in Quebec and globally. The process has demonstrated an
ability to produce hydrogen as a by-product that could be
collected. Hydrogen recovery is important because of its potential
to reduce the overall energy consumption of the project. Most
importantly, hydrogen recovery demonstrates the potential in
applying the process to other metal rich feeds that lack valuables
elements and are therefore not being recycled today due to poor
economics.
The Corporation expects to continue running the
pilot unit on an as needed basis to test various types of feed
materials it receives on a regular basis and to produce additional
material for testing by various end users.
“Having a fully operational Pilot Plant has
provided Geomega with the necessary validation to proceed to the
next stages of engineering, finalize discussions with vendors and
launch procurement. Additional development and details on these
activities will follow. We fully expect 2021 to be a
transformational year for Geomega shareholders with the upcoming
construction of the demonstration plant and its start of production
of rare earth oxide using recycled magnets, a first in the Western
world. We believe that the accelerated demand growth for renewable
energy and the electric vehicle sectors, coupled with industries
and governments striving for zero waste and reductions in
greenhouse gases, is going to result in an even larger demand for
recycling rare earths from magnets and other sources. Geomega is
looking forward to providing the required clean technology in the
critical metal space to achieve a circular economy for rare earth
magnets with its initial demonstration plant to be showcased in
St-Bruno, Quebec.” commented Kiril Mugerman, President and CEO of
Geomega.
About Geomega
(www.geomega.ca)Geomega
develops innovative technologies for extraction and separation of
rare earth elements and other critical metals essential for a
sustainable future. With a focus on renewable energies, vehicle
electrification, automation and reduction in energy usage, rare
earth magnets or neo-magnets (NdFeB) are at the center of all these
technologies. Geomega’s strategy revolves around gradually
de-risking its innovative technology and delivering cashflow and
return value to shareholders while working directly with the main
players in these industries to recycle the magnets that power all
those technologies.
As its technologies are demonstrated on larger
scales, Geomega is committed to work with major partners to help
extract value from mining feeds, tailings and other industrial
residues which contain rare earths and other critical metals.
Irrespective of the metal or the source, Geomega adopts a
consistent approach to reduce the environmental impact and to
contribute to lowering greenhouse gases emissions through recycling
the major reagents in the process.
Geomega’s core project is based around the ISR
Technology (Innord’s Separation of Rare Earths), a proprietary,
low-cost, environmentally friendly way to tap into a C$1.5 billion
global market to recycle magnet production waste and end of life
magnets profitably & safely.
Geomega also owns the Montviel rare earth
carbonatite deposit, the largest 43-101 bastnaesite resource
estimate in North America and holds over 16.8M shares, representing
approximately 19% of the issued and outstanding shares, of Kintavar
Exploration Inc. (KTR.V), a mineral exploration company that is
exploring for copper projects in Quebec, Canada.
For further information, please
contact:
Kiril MugermanPresident and CEOGeomega450-641-5119
ext.5653kmugerman@geomega.ca |
Nancy ThompsonVorticom Public
Relations212-532-2208nancyt@vorticom.comTwitter: @Geomega_REE |
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