Strange Lake Rare Earth Project
A Strategic North American Asset
Strange Lake is one of the largest and most important rare earth projects for the transition to electrification and a low-carbon economy. Our priority is to supply global markets with sustainable, traceable, secure and cost-competitive separated rare earths that are essential to fighting climate change.
The Strange Lake project will address critical shortages that are forecast for rare earths, needed to supply manufacturers of permanent magnets, which are used in electric vehicles, wind turbine motors and an array of cutting edge technologies that are key to a low carbon shift.
Strange Lake
Project Plan
Two sites
Site 1: A mine and beneficiation plant located in Nunavik, Québec, Canada, 235 km NE of Schefferville, 170 km west of the coast of Labrador. An open pit mine design with innovative, low-cost, low impact, year-round processing
Site 2: A high-purity rare earth separation at a new processing facility in southern Québec (site selection in progress)
Cornerstone investor Cerberus Capital enables us to advance project execution
- Cerberus Capital, a pioneer in alternative investing with approximately $60 billion in assets, is our cornerstone investor. Cerberus’ backing of US$50 M, the largest single investment in rare earths in Canada, comes with a long-term horizon, enabling us to advance our initiatives.
Funded pre-feasibility, feasibility studies and major initiatives are underway
- Large volume pilot testing optimizing innovative, highly efficient processes for producing separated rare earth oxides
- Pre-feasibility study (PFS) by 2024, with major project improvements, streamlined capital and operational costs and completion of a Bankable Feasibility Study (BFS)
- Indigenous and community engagement and pursuing partnership opportunities
- Execution of the Environmental Impact Assessment Process
Mining 4.0 and Industry 4.0
For Global Leadership
- Torngat is investigating the latest innovations in digitalization to build cutting edge operations. We are in a position to leverage these technologies to become one of the lowest cost operators in the rare earth space globally.
- We believe our vision and project can act as a catalyst for Québec and North America to fill the gap and become a vital, strategic rare earth processing hub.
