S1 E41: Defense Metals: Mark Tory on the Future of Rare Earth Mining

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Rare Earth Exchanges

Dustin Olsen

41 episodes

2 days ago

We're taking you to the heart of one of the most critical and underappreciated battles shaping our modern world: the rare earth element supply chain. Discover the high-stakes dynamics that are fueling international competition, from China’s commanding grip on processing, refining, and value-added production of rare earth elements to the industries and innovations that depend on these indispensable resources. Each week, we expose the geoscience, geopolitics, and economic forces behind the West's growing reliance on China—forces that are hidden in plain sight but impossible to ignore.

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S1 E41: Defense Metals: Mark Tory on the Future of Rare Earth Mining

Rare Earth Exchanges

32 minutes 30 seconds

4 days ago

S1 E41: Defense Metals: Mark Tory on the Future of Rare Earth Mining

Highlights

Defense Metals has a world-class light rare earth project in British Columbia.
The project can concentrate from 2.4% in the ground to 50% concentrate grade.
Permitting timelines are crucial and can take 2-3 years.
Community engagement is essential for project success.
The rare earth industry faces significant challenges, including financing and competition from China.
Investors are increasingly interested in the Western rare earth market.
There is a need for more chemical engineering talent in the rare earth sector.
The demand for permanent magnets is driving growth in the industry.
Mark Tory emphasizes the importance of perseverance in the rare earth industry.
The Western world must develop its downstream processing capabilities.

SUMMARY

In this episode of the Rare Earth Exchanges podcast, Mark Tory, managing director of Defense Metals, discusses the company's unique position in the rare earth industry, focusing on their light rare earth project in British Columbia. He shares insights on the production timeline, challenges in the permitting process, and the importance of community engagement. Mark emphasizes the need for strategic partnerships and the role of emerging technologies in enhancing efficiency within the industry. He also offers advice for young professionals looking to enter the rare earth sector, highlighting the importance of chemical engineering and innovation.

CHAPTERS

00:00 Introduction to Defense Metals and Mark Torrey
02:01 Understanding Rare Earth Elements and Their Economic Viability
05:00 Project Overview: Production and Timeline
08:04 Permitting Process in Canada vs Australia
10:04 Challenges in the Rare Earth Industry
12:46 Community Engagement and Local Relationships
16:59 Business Development and Offtake Agreements
19:49 Refining and Processing in Canada
22:54 Company Structure and Culture
26:58 Investor Relations and Market Dynamics
30:01 Future of Rare Earths and Emerging Technologies
33:57 Advice for Young Professionals in the Industry