Vital Metals (ASX:VML) secures extraction plant in Saskatoon, Canada
- Vital Metals has signed a lease for a rare earth extraction plant site in Saskatoon, Canada
- The company completed its first mining blast at Nechalacho and plans to start production of rare earth oxide in the June 2021 quarter
- The ten-year lease agreement is between VitalMetals subsidiary, Cheetah Resources Saskatchewan, and Northstar Innovative Developments
- The processing facility has received government funding of C$31 million, and once completed, is said to be the first of its kind in Canada
- First product from Vital’s Nechalacho rare earths project is scheduled for delivery to Saskatoon in November 2021
- The company shares are trading 1.9 per cent higher at 5.2 cents each
