15 May 2018
Avalon Advanced Materials Inc. is pleased to announce that it will re-activate its 100% owned Nechalacho Rare Earth Elements Project, Thor Lake, NWT in 2018 due to strong demand for the ‘magnet rare earths’ neodymium and praseodymium. Rare earth magnets remain vital to many clean technology applications requiring high efficiency, lightweight electric motors and generators. This includes motors for electric vehicles, which can require 5-10kg of rare earth magnets per vehicle. The growing market for electric vehicles, especially in China, has created new demand for these high strength magnets, resulting in rising prices for neodymium and praseodymium, both now selling for over $100/kg in oxide form. The world still largely relies on China for rare earth supply, yet China has reportedly become an importer of neodymium concentrates. While Avalon’s 2013 Feasibility Study focused on the underground accessible, heavy rare earth-rich Basal Zone of the Nechalacho Deposit, the property hosts several other easily accessible, near-surface, rare earth mineralized zones including high grade, neodymium-praseodymium (“Nd-Pr”) rich resources. These are located in the T-Zone and Tardiff Lake Zones. These zones have potential for near-term, small-scale, low-impact development to produce Nd-Pr rich concentrates for export and will be the focus of renewed development work planned for the Project in 2018.