Australia's Vital Metals starts production at Canadian rare earth project

source:REUTERS

Australian rare earth miner Vital Metals said on Tuesday it had started production at its Nechalacho project in Canada’s Northwestern Territories last month.

The miner said it has begun crushing ore and expects to hit full production rates in July.

Rare earth elements are of strategic significance. Most automakers also use rare-earth-based magnets in electronic vehicle motors.

China dominates the global production of the raw materials, which are expensive. Australia’s Lynas, a much larger rival of Vital, is the biggest non-China supplier of the product.