Corporate Overview
Who We Are
- We are a privately-owned Canadian company, headquartered in Montréal, Canada
- Our Lost Lake rare earths project in Nunavik, Québec, is fully funded to Bankable Feasibility Study, backed by US$50 million from strategic partner Cerberus Capital
- With our best-in-class technical partners and top ESG-Indigenous ambitions, Torngat is positioned as a strategic asset for North America
Torngat Metals
Our Vision
To be the recognized supplier of socially and environmentally-leading rare earths for low carbon, e-mobility, and renewables markets.
Our Mission
To build a company that generates exceptional economic value and social benefits, guided by the highest in ESG-I standards, collaboration with Indigenous peoples on their traditional lands, and the use of world leading technology and engineering.
Strange Lake
Project
- We will produce and transport rare earths concentrate from our Strange Lake project in Nunavik, northern Québec, to a Torngat refinery in southern Québec, where we will produce separated oxides
- Our pre-feasibility study (PFS) will be completed in 2024, with major project improvements, streamlined capital and operational costs and thereafter completion of a Bankable Feasibility Study (BFS)
- Large volume pilot testing is underway, optimizing innovative, highly efficient processes for producing separated rare earth oxides
Rare Earth Oxides
Growing Markets & Tight Supply
- There is a bullish outlook for rare earth materials due to continuously increasing demand for wind energy, and electric vehicles, as well as many other technologies using permanent magnets
- A five times increase in demand of rare earths is expected by 2030 for electric vehicles alone
- China currently supplies ~80% of the world market of separated and refined rare earths but also now imports a significant proportion of their rare earths
- Industry and Western nations are focused on supply diversification that is also traceable and sustainably produced
