The Australian-based mining company, Vital Metals, has put a pause on construction at its Rare Earth Processing Facility in Saskatoon. A news release from the company it’s not economically viable right now. Vital’s Interim Chair, Richard Crookes, says they haven’t been able to secure intermediate product sales at the right price, so for now, they are stopping construction, looking for alternative funding sources, and possibly partnering with third parties to potentially build a sustainable business model for the Saskatoon business. Construction is about half done. Crookes says Vital Metals has worked hard to refine the business case for Saskatoon project in light of the increased costs, lack of an immediate market for the products and lower rare earth prices.

Prime Minister Justin Trudeau toured the processing plant last January, highlighting the need for critical minerals for things like electric vehicle batteries. The Saskatchewan Research Council is building a building a small scale rare earth processing facility, and the goal is to establish a Rare Earth Element supply chain in the province, forming an industry model for future commercial REE resource expansion.