M&A

Vital adds heavy rare earth projects to Canada mix

Acquisitions include resource where feasibility completed

This article is 3 years old. Images might not display.

Vital said the acquisition of Quebec Precious Metals Corp's 68% interest in the Kipawa heavy rare earths project and 100% of the Zeus heavy rare earth project "complement" its light rare earths operations at Nechalacho at Yellowknife, Northwest Territories.

The former was a joint venture involving Toyota, whose interest was subsequently converted into a 10% NPI.

A feasibility study on Kipawa was completed in 2013 that Vital said it would optimise.

"Part of Vital's corporate DNA is our ability to identify the most efficient and effective way to develop rare earth projects," the company said.

"Similar to Nechalacho where we have applied an alternative development strategy to greatly reduce capital costs and development timelines, we see similar opportunities for improvements to the existing development strategy at Kipawa and we look forward to defining our development strategy over the coming months."

Vital started rare earth production at Nechalacho in June, with staged production increases funded by cashflow the plan.

Vital started the current quarter with A$34.9 million.

Shares in Vital were up 5% to 6.4c in afternoon trade, capitalising the company at $266 million.

Vital's stock was trading at about 1.5c 12 months ago. 

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.