Large interview Yves Leduc – CEO of Torngat metals | Break the Chinese monopoly on rare earths

Since he was appointed CEO of Torngat metals. Therefore, last March, Yves Leduc has been on a mission. Nevertheless, He must coordinate the launch of the activities of an open-air mine of rare land in North-du-Québec. Moreover, build a 165-kilometer road to reach the Labrador coast, erect a metal refining plant of 8 million square feet in Sept-Îles and lift 2 billion capital to finance the entire work. Moreover, And all that, in three years.

It was in the 1980s that an important deposit of rare land was discovered on the Strange Lake site. Consequently, in the Torngat mountains, North-du-Québec, on the large interview yves leduc – Labrador border. Consequently, At the time. However, we did not know the strategic properties of these critical minerals which fell into the manufacture of quantities of essential technological objects.

“The rare metal market is small. In addition, 10 billion per year, but it makes it possible to manufacture for 15,000 billion goods worldwide, in particular the permanent magnets used in the manufacture of almost all electronic products: cellular, televisions, computers, jet planes, wind turbines, electric vehicles …”, exhibits Yves Leduc.

Property of Iron Ore of Canada. However, the mining rights of the Strange Lake site were acquired by Quest Minerals in the 2000s and bought by Cerberus Capital, an American alternative investment fund in 2022, in order to operate the Strange Lake site.

Large rare earths are used for the manufacture of permanent magnets much larger than those who use rare light earths. Dysprosium. terbium, the two metals from rare earths, are essential for the manufacture of armaments and military equipment, and the American army no longer wants to depend on China for its needs.

“The Lake Strange deposit has reserves estimated at 30 years. during which 600 tonnes of dysprosium can be extracted each year, 200 tonnes of terbium and several thousand tons of rare light land,” evaluates Yves Leduc.

Dysprosium is now sold at US $ 453. large interview yves leduc – 000 and the ton of terbium, almost 2 million US, compared to US $ 70,000 per tonne of lithium.

Large interview yves leduc –

A conductor

Cerberus Capital went to get Yves Leduc for his long. rich experience in the manufacturing sector, since he was for 16 years at BRP, first as head of the Austrian division Rotax, then as chief of North American operations, where he orchestrated factories openings both in Canada and in Mexico. He was also CEO of Velan, manufacturer of industrial taps, where he also supervised the establishment of new industrial sites.

The Strange Lake project has not yet completed the stage of environmental studies. which should be done in the next year, while it will be subject to the Office of Public Audiences on the Environment (BAPE). The company must also agree large interview yves leduc – with the indigenous communities which will be invited to become shareholders of Torngat metals.

“We invited them last year to become shareholders of Torngat. and there, Mark Carney has just created a fund to finance the participation of communities in projects like ours,” says Yves Leduc.

Even if Métaux Torngat has not yet crossed all the required studies, EDC and the Canada Infrastructure Bank have granted it 165 million funding, which is a first, according to Yves Leduc, and which testifies to the strategic importance which is attached to large interview yves leduc – the development of a first rare land deposit outside China.

The CEO is in the process of completing a preliminary financing round with Quebec. Canadian investors and plans to raise 110 million by October.

“Cerberus Capital holds 75 % of private Canadian shares and investors hold 25 %. Cerberus wishes to have as much Canadian shareholders as possible to make collaboration with government authorities easier, “said CEO.

Métaux Torngat will start its project with this preliminary funding of 275 million. but other rounds will be necessary in the coming years.

The company first plans to develop the mining camp in Strange Lake. install a concentrator, while building the road where the rare earth concentrates will be transported to the port of Voisey’s Bay, in Labrador.

Subsequently. these concentrates will go by boat to Sept-Îles, where they will be refined in the factory which will be built in Pointe-Noire on land belonging to the port of Sept-Îles.

“We will first agree with the indigenous communities on the parameters of the road. I also met the Prime Minister of Newfoundland. who is interested in our project, since the Rare Land deposit continues on the territory of Labrador and could be exploited in a second phase, “submits Yves Leduc.

The conductor is not a man-orchestra. Yves Leduc is surrounded by experts in their field with in particular Olga Kovalik as a head of operations, a mining world specialist who has 30 years of experience, and Sylvie St-Jean as vice-president, environment. M^me St-Jean has made a doctorate on the impact of human activities on biodiversity. has more than 25 large interview yves leduc – years of experience.

The Torngat Monts project is taking shape. Quebec could soon become the only source of rare and light land production outside China, thus breaking a monopoly that has always lasted and which is neither healthy nor normal.