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The Saskatchewan Research Council is attempting to go head-to-head with China and prove the case for private investment in rare earth minerals by building North America’s first rare earths processing plant.
Rare earths are mined in vanishingly small quantities worldwide, but owing to their magnetic, fluorescent and conductive qualities, they have crucial uses in tech, robotics, low-carbon power and military applications.
Rocanville, Sask. – Driving into the tunnels of Nutrien’s Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night. “In a day you’d probably put on anywhere between 100 and 150 kilometres just to see your people,” said Chris Machniak, a general foreman at the mine.
The silence of the tunnels is broken only by the subtle but noticeable crinkling sound of fresh-cut potash settling into its new position. That quiet is quickly replaced by the roar of machinery as you reach the heart of the operation.
City will soon be home to a first-of-its-kind rare earth minerals processing facility in North America
Saskatoon will soon be home to a first-of-its-kind rare earth minerals processing facility in North America, one that can take on China’s dominance in a key part of the energy transition.
The Saskatchewan Research Council (SRC) is constructing the plant, set to be fully operational in 2025, which will become the only one in North America able to process critical minerals into materials that can be used to create a range of products, including batteries for electric vehicles (EVs).
Australia’s Paladin Energy (ASX: PDN) has hit a roadblock in its proposed acquisition of Canada’s Fission Uranium (TSX: FCU) after a Chinese investor in the takeover target opposed the tie-up.
The Western Australia-based miner revealed on Monday that CGN Mining Company, a subsidiary of China General Nuclear Power with a 11.26% stake in Fission, is opposing the tie-up. Paladin moved in June to buy the Canadian miner for C$1.14 billion ($845 million), contingent on at least two-thirds of Fission shareholders voting in favour of the transaction by Aug. 26.
Nutrien has developed technology that allows for mining machines to be operated remotely
The potash industry has undergone many changes over the decades in Saskatchewan. It has grown exponentially since it began developing in the 1950s and has continued to expand as global population growth increased the demand for fertilizer, an important component of which is potash.
As that demand has steadily increased, Saskatoon-based Nutrien Ltd., the world’s largest potash producer, has been working to make its operations more efficient while also improving safety.
Stage 1 of BHP’s multi-billion dollar Jansen potash mine project is halfway complete and ahead of schedule, the company announced last week. The project is being built just outside of Humboldt, and will be part of a multi-stage effort to build the largest potash mine in the world.
The first stage is expected to be complete by 2026. Karina Gistelinck is the asset president of potash for BHP and also in charge of overseeing the mega project. She was nothing but smiles on Tuesday in Saskatoon speaking about how well construction had progressed on the project.
Canada’s Minister of Energy and Natural Resources Jonathan Wilkinson announced on Wednesday over C$16 million ($11.6m) in new funding to support the Saskatchewan Research Council (SRC) in Saskatoon. The funding builds on earlier support of nearly C$13.5 million ($9.8m) from Prairies Economic Development Canada (PrairiesCan) and Natural Resources Canada (NRCan) for SRC to establish its rare earth processing facility and develop new rare earth mineral processing technologies.
Wednesday’s announcement includes C$15.96 million through PrairiesCan to enable SRC to acquire bastnaesite (a type of ore containing rare earth elements) from Canadian sources and create new domestic capacity for bastnaesite processing, which will be integrated into SRC’s rare earth processing facility.
BHP is taking another step in its commitment to build strong, respectful and mutually beneficial relationships with Indigenous communities with the launch of the Canada Indigenous Partnership Plan (CIPP).
This approach has been central in BHP’s development of the Jansen potash mine in Saskatchewan, where it started building relationships with local Indigenous groups surrounding the site almost a decade before construction began. First production is expected in 2026.
Australia-headquartered uranium miner Paladin Energy is set on transforming itself from a single-asset entity into a “serious global producer with scale and upside potential”, said COO Paul Hemburrow.
Speaking at the Diggers and Dealers forum, in Kalgoorlie, this week, he expressed enthusiasm about the proposed acquisition of Fission Uranium, a deal valued at C$1.14-billion.
Canadian global fertiliser giant Nutrien vowed to counter any competition from BHP with a boost to potash supply from its network of mines in response to BHP’s planned entry into crop nutrients. BHP is betting big on a growing market for potash as it prepares to take on one-time takeover target Nutrien and other fertiliser incumbents.
Nutrien is predicting steady but unspectacular growth in demand for potash, and focused on an emerging market for biological technology it believes could grow to $US13 billion ($19.9 billion) a year.
For 65 years, Nutrien has been part of the fabric of Saskatchewan. From the first 1,000 tonnes of potash produced at our Patience Lake mine and shipped in 1959 to our position today as the world’s largest potash producer, Nutrien’s legacy demonstrates our deep-rooted connection with Saskatchewan and our commitment to Feeding the Future.
Our six mines across the province have access to the best potash geology in the world highlighting our role as a critical mineral producer essential to global agricultural advancement. Potassium is a critical plant nutrient for growth and productivity, without which plant life is impossible.
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Australia’s Paladin Energy Ltd.is confident its proposed acquisition of Canada’s Fission Uranium Corp. will clear a national security probe, as Ottawa makes enquiries about CGN Mining Co. Ltd., a China-based state-owned deal stakeholder.
Perth-based Paladin last month said it had reached a friendly agreement to buy Kelowna, B.C.-based Fission in an all-stock transaction worth $1.14-billion. Fission is developing the Patterson Lake South (PLS) uranium project in the Athabasca Basin region of Saskatchewan and hopes it will be in production by the end of the decade.
About half of the ore mined by the Canadian nuclear fuel giant is now extracted using automation and AI
Many countries around the world are looking to build out their capacity for nuclear power as they try to reduce their carbon emissions, which has created an increased demand for uranium. But the market for uranium has also been undergoing some major changes due to sanctions on Russia because of its invasion of Ukraine. There have been quite a few changes on the operations front, too.
For example, Saskatoon-based uranium miner Cameco Corp. is undergoing a major evolution in the way it extracts the heavy metal. Lloyd Rowson, vice-president of technical services, said the best example of this change can be seen at the Cigar Lake mine, which began operating in 2014.
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Eric Cline is a lawyer and served 12 years as a cabinet minister in Saskatchewan. His second book, Squandered: Canada’s Potash Legacy (University of Regina Press), was released this spring.
Saskatchewan owns one-third of world potash reserves. That puts the province in an enviable position. The market for potash, necessary for fertilizer production, seems assured as long as a growing world population needs to eat. And one-third is a lot. To put that in context, Saudi Arabia, with only about 16 per cent of world oil reserves, dominates the world oil market.
It’s therefore not surprising that companies extracting Saskatchewan’s potash – Nutrien, Mosaic and K+S – make a lot of money. That’s all the more so recently, when Ukraine war sanctions against the potash producers Russia and Belarus sent the price of the commodity skyrocketing.
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Australia’s Paladin Energy Ltd. has reached an agreement to buy Canadian mining development company Fission Uranium Corp. in a friendly transaction worth $1.14-billion, as Fission lays down a big bet on a uranium project in Saskatchewan. Kelowna, B.C.-based Fission is developing the Patterson Lake South (PLS) project in the Athabasca Basin region of Saskatchewan, and hopes to be in production by the end of the decade.
Paladin is offering 0.1076 of its shares for each Fission unit, or $1.30 a share, a premium of just under 26 per cent compared to Friday’s closing price on the Toronto Stock Exchange.
