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Cesium project in Canada advances with Albemarle offtake and prepayments
Power Metals says its Case Lake cesium project, the only one in North America advancing toward commercial production, will receive up to C$5 million in prepayments to help move the project forward.
Cesium is drawing fresh attention in tightly constrained critical mineral markets as efforts to rebuild the US defense supply chain focus on strategic materials used in defense technology, OilPrice reports.
OilPrice highlights Power Metals and its 100 percent owned Case Lake project in Ontario, describing it as North America’s only cesium project moving toward commercial production.
The company’s long term cesium offtake agreement with Albemarle, a producer of specialty cesium chemicals, is intended to secure future concentrate sales while providing up to C$5 million in project prepayments.
OilPrice also notes that Case Lake has already established the world’s fifth largest known cesium resource from a single mineralized dyke, with additional cesium bearing targets extending across a larger geological system.