Auxico Resources files paperwork to Canadian Govt for grant to build rare earths processing plant
–News Direct–
Auxico Resources CEO Pierre Gauthier joined Steve Darling from Proactive to announce significant developments in the company's strategic initiatives.
Gauthier revealed that Auxico, in collaboration with Central America Nickel Inc., has submitted an application to the Government of Canada's Innovation, Science, and Economic Development's Strategic Innovation Fund. The application seeks funding for the construction of two critical mineral and rare earth element processing and refining facilities in the region of Sorel, Quebec. These refineries are aimed at addressing issues related to magnets used in electric vehicles, ensuring a stable supply of key elements.
Gauthier shared with Proactive that the application seeks a government grant of $114 million to support the refinery project, and they anticipate receiving a response within 60 days. The construction of these refineries represents Auxico's dedication to sustainable and strategic rare earth solutions, focusing on securing a stable supply of critical minerals for electric vehicle technologies.
Furthermore, Auxico has taken steps to consolidate control within Central America Nickel, ensuring a smoother financial future. This move strengthens the partnership between the two companies and reinforces their commitment to advancing rare earth projects.
The interview with Pierre Gauthier illustrates Auxico Resources' dedication to the development of sustainable solutions for critical minerals and its strong partnership with Central America Nickel. Through their collaboration and innovative projects, they aim to play a significant role in the supply chain of rare earth elements, particularly for electric vehicle technologies.
Contact Details
Proactive Canada
+1 604-688-8158
na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/auxico-resources-files-paperwork-to-canadian-govt-for-grant-to-build-rare-earths-processing-plant-778641510
Auxico Resources Canada Inc
COMTEX_437135281/2655/2023-07-21T13:09:38