Schneider Electric and Torngat Metals sign rare earth MoU

Schneider Electric and Torngat Metals announced on Wednesday that they have signed a non-binding Memorandum of Understanding (MoU) to explore a strategic industrial partnership aimed at supporting the development of a resilient rare earth value chain in Canada.

The proposed partnership is centered on the Strange Lake rare earth project in Nunavik, which includes associated infrastructure in Labrador and a planned separation facility in Sept-iles, Quebec.

The Strange Lake project is expected to produce both heavy and light rare earth elements, which are essential for permanent magnets used in renewable energy, digital infrastructure, and advanced manufacturing.

According to the companies, the MoU is designed to facilitate an integrated, end-to-end collaboration that connects upstream resource development, technology integration, and future industrial demand. The agreement aims to support a 360° partnership for the development of a next-generation mining and processing project, leveraging Schneider Electric's expertise in electrification, automation, digital systems, and sustainable industrial design.

Strange Lake stands out among North American rare earth projects due to its high content of heavy rare earth elements, particularly dysprosium and terbium-both critical to permanent magnets used in electric vehicles, wind turbines, and defense technologies.

An initial study by Quest Rare Minerals estimated indicated resources at Strange Lake's main B-zone deposit at 278.1 million tonnes, grading 0.93% total rare earth oxides (TREO), 1.92% zirconium oxide, and 0.18% niobium pentoxide. Inferred resources were estimated at 214.4 million tonnes, grading 0.85% TREO, 1.71% zirconium oxide, and 0.14% niobium pentoxide.