Rare Earth Salts Approaches Near Term Commercialization of Rare Earth Separation Technology
May 7, 2015 (Source: Marketwired) — Rare Earth Salts (´RES” or the “Company”), a leading industrial and applications technology company, today announced the Company has a defined path to near term commercialization.
Work has begun on testing process flow modeling for separations processing and commercial component feasibility. The test work aims to prove process flows and the scalability of RES’ proprietary separations technology. Successful completion will facilitate engineering and construction of a commercial production facility with initial separations capacity of 10 tons per month of rare earth concentrate.
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“Near term commercialization will be an important milestone for RES and the industry,” said Allen Kruse, Chief Executive Officer of RES. “Our technical team continues to demonstrate some of the lowest operating costs and highest efficiency in the industry with our environmentally friendly process, projected to be below $4/kg. We believe our separations technology is the missing piece to the industry being successful in the Western World once again. It will allow current rare earth concentrate producers and prospective producers to directly compete with, and be profitable at, Chinese domestic pricing.”
“The functional independence of the Rare Earth Salts Separations Technology (RESST) toward various rare earth concentrate feedstocks is another key advantage for RES,” added Allen Kruse. “Our technology allows us to combine concentrate from multiple partners and feedstock types without sacrificing separation effectiveness.”
RES continues to work with a Major Mining Company under the Joint Development Agreement announced October 14, 2014 with plans calling for the expansion of the initial commercial production facility to handle much larger production volumes. RES will continue to selectively seek additional partners with whom to work as the Company continues to grow its commercial capacity.
About Rare Earth Salts
Rare Earth Salts is a leading industrial and applications technology company with the goal of achieving near term commercial production. The Company has developed a patent pending industrial technology proven to efficiently and economically separate and refine all 16 Rare Earth Elements to high purity. The process is environmentally friendly and projects significantly reduced cost versus standard processing. For more information visit: www.rareearthsalts.com.