Rare Earth Salts Completes Research and Development Phase with Filing of Additional Patent; Prepares for Pilot Plant
September 9, 2014 (Source: PRNewswire) — Rare Earth Salts (“RES” or the “Company”), a leading mineral and applications technology company, today announced the filing of a new provisional patent application with the United States Patent and Trademark Office (USPTO).
The application covers modifications and additions to RES’ patent pending process for the extraction, concentration, separation, and refining of all rare earth elements. The process has been tested on more than 30 samples from five continents, consisting of more than a dozen different geological ore types, utilizing raw head ore as well as post-processed mining tailings. On average, the RES process has created a rare earth oxide concentrate of more than 90% with single pass processing that includes average extraction rates of 85%+ across the entire range of rare earth elements including yttrium and scandium. The process includes separation and refining of all of the individual rare earth elements to purity levels of greater than 99.9%.
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The environmentally friendly process recovers and reutilizes virtually all consumables allowing RES to project some of the lowest operating costs in the industry. Pre-pilot estimates for extraction, concentration, separation and refining are below $6/kg for 2-3% TREO grade material, and below $5/kg for 4% or greater TREO grade material, representing the potential for a fundamental shift in the rare earth industry.
“This patent application filing denotes another key step in the Company’s intellectual property strategy for protecting its technology through a combination of patents and trade secrets, and also recognizes the evolving novel technology advances created by our scientific team,” said Allen Kruse, Chief Executive Office of RES. “This also signifies the completion of the Company’s research and development phase. We are now preparing to move into pilot plant and feasibility study phase with a strategic partner in the first half of 2015 to validate the scalability of our technology and allow for a quick but methodical transition to commercialization.”
About Rare Earth Salts
Rare Earth Salts is a leading mineral and applications technology company with a goal of rapidly advancing towards production. The Company has developed a patent pending industrial technology proven to efficiently and economically extract, separate, and refine all 16 Rare Earth Elements to high purity at bench scale. The process is environmentally friendly and brings significantly reduced cost versus standard processing. The Company is executing on its strategy to scale its proprietary process with the launching of its pilot plant planned for the first half of 2015. For more information visit: www.rareearthsalts.com.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>