Mont Royal signs MoU for Ashram rare earths initiative in Canada
Under the MoU, the port authority may consider providing access to certain infrastructure, subject to required approvals.
The agreement outlines a framework for coordination on the industrial project focused on processing and upgrading rare earth concentrates. Credit: Phawat/Shutterstock.com. Mont Royal Resources has signed a non-binding memorandum of understanding (MoU) with the Saguenay Port Authority covering potential cooperation on the Ashram rare earths project in Quebec, Canada.
The agreement outlines a framework for coordination on the industrial project focused on processing and upgrading rare earth concentrates.
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It emphasises the strategic benefits and significance of the port as a natural logistics centre in north-eastern Canada for the advancement of the critical minerals industry, and is in accordance with the Canadian Northern Corridor.
Mont Royal said it is evaluating whether to place a hydrometallurgical processing facility, through its wholly owned subsidiary, Commerce Resources, within the Port Saguenay industrial zone, pending further technical, commercial and regulatory review.
The port possesses land within its industrial-port area that may be appropriate for the Ashram Project’s proposed hydrometallurgical plant.
Under the MoU, the port authority may consider providing access to certain infrastructure, subject to availability and required approvals, for the transport and handling of the company’s rare earth concentrate and intermediate rare earth products associated with the project.
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The Port of Saguenay provides a comprehensive logistics solution that integrates port, road and rail services throughout the year for rare earth concentrates importation from the Ashram Project.
This facilitates further processing and the eventual export of refined intermediate rare earth products to international markets.
Mont Royal managing director Nicholas Holthouse said: “We are very pleased to be working with the Port of Saguenay, with this agreement marking an important step towards the development of the Ashram Rare Earth Project.
“We see great opportunity in moving the more complex Hydromet portion of the Ashram flowsheet away from site and relocating it to Saguenay, an area which offers ready access to port, rail, power, gas, service industries and a skilled workforce.”
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