Rare Earth Elements
In recent years, the demand for rare earth elements (REEs) has experienced a significant surge, driven by their indispensable role in the manufacturing of high-tech devices, renewable energy technologies, and defense systems. The global transition towards clean energy sources, exemplified by the rapid growth of the electric vehicle market and the increasing deployment of wind power, has intensified the need for REEs.
Port of Argentia’s location offers a strategic advantage for entry and participation as a major player in the global Rare Earth Elements (REE) supply chain. A scoping study is underway to determine the viability and optimal configuration of a REE processing facility at the Port. This could include re-purposing a former demonstration plant at the Port to de-risk strategically important REE processing technology and help position the Port as a strategic component in the global REE supply chain.