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Medallion’s technology will help meet the growing demand for critical raw materials
Monazite contains up to 60% of rare earth minerals and is always rich in neodymium and praseodymium. It can be widely used as a by-product of operating mines in North America, Australia and Africa.The role of Medallion Resources is: Medallion Resources Co., Ltd. (CVE: MDL) (OTCMKTS: MLLOF) is committed to extracting rare earths from monazite, which is a rich by-product of heavy mineral placer mining, and has developed special There are techniques to do so. The Vancouver-based company is pioneering a process for extracting so-called magnet metals (or more specifically neodymium and praseodymium (NdPr)). These are the basic components of lightweight and powerful rare earth magnets used in electric vehicle (EV) motors and wind/solar technology.
The global praseodymium and neodymium oxide market is valued at US$4.2 billion in 2019. Industry analysts estimate that demand will grow to US$12.7 billion by 2030, with a compound annual growth rate of 13%.UBS Group (UBS) said that recently, UBS (UBS) predicts that the average price of NdFeB will remain at US$60 per kilogram in 2021, although the spot price will be higher, and the price will rise to about US$100 per kilogram by 2024 .
The Monazite Monazite process extracts high-value metals and produces saleable products from more than 90% of the feed.It is worth noting that the prices of rare earths and lithium-ion battery raw materials are rising. It is estimated that by 2030, electric vehicles (EV) and hybrid vehicles will account for 40% of the new market share.
The management of the Medallion has extensive experience. Its CEO and President is Mark Saxon, an experienced rare earth and key materials director, who led the company’s discovery of the Norra Karr project in Sweden.
For the past three decades, China has dominated the production and value-added phase of the rare earth industry because the manufacturing industries in the United States and Europe have traded supply security at low prices. The People’s Republic of China currently controls about 85% of the world’s rare earth production.
But the Medallion pointed out that rare earths have been repeatedly identified as important raw materials in the United States and the European Union. The company’s market value is approximately 30 million Canadian dollars, and its stock price has risen 440% in the past 12 months.