Jim Letourneau's Blog

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Summary of Canada’s Rare Earth Deposits


DNI Metals (DNI.V) in a Nutshell


It's nice to see a brief summary of what all the Canadian rare earth companies are up to. I'm an adviser to DNI Metals so I thought I'd share this version of their story by the Canadian Chamber of Commerce.

Canada has 1.1 billion pounds of rare earths locked in black shale deposits (the Alberta Black Shale Project) worth an estimated $206 billion that were previously not recoverable unless large amounts of cyanide and arsenic were used to liquefy the ores—a process that is considered dangerous and illegal in many parts of the world. Now, a new, more cost-effective and environmentally friendly technology that uses water, air and microbes (a technique known as bioheap leaching) can be used to release the rare earth from the black shale deposits.25 The new technology has a limited track record—only one mine (operated by Finland’s Talvivaara Mining Company Plc.) is producing metals through bioheap leaching. Toronto-based DNI Metals,  a junior mining company, has said it needs $1 billion to get the project going.26 

(source) - Canada’s Rare Earth Deposits Can Offer A Substantial Competitive Advantage