Strange Lake Rare Earth Project
A strategic North American asset
This 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 project will address expected critical shortages for rare earths, needed to supply manufacturers of permanent magnets, that are used in electric vehicles, wind turbine motors and an array of cutting edge technologies that are key to a low carbon shift.
Three components
Proposed for a successful project
1. Mine and Concentration Site
- Mine and concentration (beneficiation) plant located in Nunavik, Québec, Canada, 235 km northeast of Schefferville and 170 km west of the coast of Labrador
- Open pit mine design with innovative, low-cost, low impact, and year-round processing
2. Seasonal Access Road
- A 170 km seasonal access road to the coast of Labrador, enabling transport of concentrate by ship to the refinery
3. Refinery
- High-purity, rare earth separation at a new processing facility in southern Québec
Our cornerstone investor, Cerberus Capital, enables us to advance project execution
Cerberus Capital, a pioneer in alternative investing with approximately US$60 billion in assets, is our cornerstone investor.
Cerberus’ backing of US$50 million, the largest single investment in rare earths in Canada, comes with a long-term horizon, enabling us to advance our initiatives across all aspects of the project.
Funded pre-feasibility and feasibility studies,
major initiatives under way
- Conducting extensive pilot testing on a large scale to realize groundbreaking advancements in the industry. The aim is to develop new, highly efficient processes for the production of 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) thereafter.
- 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 Metals is investigating the latest innovations in digitalization to build cutting-edge operations. We are in a position to leverage these technologies and become one of the lowest cost operators in the global rare earths industry.
We believe our vision and project can act as a catalyst for Eastern Canada and North America to fill the gap and become a vital, strategic rare earth processing hub.
Imagine a North American rare earth supply chain
Together we can fill the gaps
- 1. Mine & concentrator
- 2. Separated rare earth oxides
Torngat Metals
We aim to be a cost competitive and sustainable mine and concentrator, and
long-term supplier of separated rare earth oxides, the required first step in building a traceable and secure supply chain.
-
3. Rare earth metals
Fill the gap–potential in Eastern Canada
The critical gap of supply of rare earth metals in North America should be addressed with the latest technologies, world-class human capital, the highest environmental and low carbon standards, and a competitive costs structure.
- 4. Magnet alloys
- 5. Permanent magnets
- 6. Motors & use in low carbon products
Future potential
A Canadian rare earth metal industry will create investment opportunities for the North American production of magnet alloys and permanent magnets.
Already established in North America
A robust and growing capacity to supply motors and other low carbon products already exists in North America, supporting a strong appetite for domestic suppliers of magnet alloys and permanent magnets.