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Geomega Resources Inc.

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Geomega Resources Inc. - Chemicals & Materials showcase

Year Founded & Workforce

2008

Industry

Chemicals & Materials

Services

Rare Earth Metal Market
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Geomega Resources Inc. Overview

Company Headquarters: Quebec, Canada

Founded: 2008

Workforce: ~NA

Company Working: Geomega Resources Inc. (Geomega) develops innovative recycling technologies to extract and separate rare earth elements and other critical metals essential for a sustainable future. Geomega is committed to working with major partners to help extract value from mining feeds, tailings, and other industrial residues which contain rare earth and other critical metals. Geomega conducts all its R&D activities through Innord, a wholly owned private subsidiary, and its innovation arm at the National Research Council of Canada (CNRC) facilities in Boucherville, Quebec. It is developing the first rare earth recycling facility in Saint-Bruno-de-Montarville. Geomega also owns 100% of the Montviel rare earth and niobium deposit, located in Quebec with the largest 43-101 bastnaesite resource in Canada, permanent access, and excellent infrastructure.

Strategy

Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cash flow, increasing margins, and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies. Geomega continually evaluates other opportunities to apply its ISR Technology to other critical metals and other feed materials from various industries from all over the world.

Company Snapshot

2008

Founded

Quebec, Canada

Headquarters

SWOT Analysis

Strengths

  • Heavy spending on R & D activities
  • Strong distribution channel

Weaknesses

  • Inability of certain suppliers to fulfill contractual requirements
  • Limited global presence

Opportunities

  • Global expansion
  • Acquisition of smaller companies

Threats

  • Increasing competition
  • Supply-related risks

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Key Developments

DateApproachDevelopment
May 2021AgreementGeomega Resources had announced that Innord, a wholly-owned subsidiary of Geomega resources, has developed a bench-scale process that is based on environmentally friendly technology to process bauxite residues. The company has also entered into an agreement with an industrial partner to extract rare earth elements, scandium, and other critical, valuable metals from this readily available material.
February 2021Letter of IntentGeomega Resources Inc. and Everwin Magnetics Co., Ltd (“Everwin”), a subsidiary of Forte Mobility Co., Ltd, had announced that they have entered into a Letter of Intent (LOI) to recycle rare earth-containing production waste from Everwin’s future production facilities in Ontario, Canada. Everwin is developing the first NdFeB magnet production facility in Canada that will go from machining to surface treatment and is targeting to start with approximately 300 tonnes of the annual production of rare earth magnets.
January 2021ExpansionGeomega Resources Inc. had announced the successful completion of testing and optimization of its Rare Earths Pilot Plant (“Pilot Plant”), located at the National Research Council Canada facility in Boucherville, Quebec. This is the 2nd generation pilot plant after the completion of the mini pilot in April 2019.

Product Offering

  • Geomega Resources Inc.
    • Rare Earth Metal Market

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