Appia is Joining MAGBRAS to Participate in the Development of Latin America's First Permanent Magnet Production Facility
Appia Rare Earths & Uranium (CSE: API) has joined the SENAI MAGBRAS initiative to develop Latin America's first rare earth permanent magnet facility in Lagoa Santa, Minas Gerais State, Brazil.
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Appia Rare Earths & Uranium (CSE: API) has joined the SENAI MAGBRAS initiative to develop Latin America's first rare earth permanent magnet facility in Lagoa Santa, Minas Gerais State, Brazil. The MAGBRAS project aims to establish a complete rare earth production chain in Brazil, implementing a 'From Mines to Magnets' approach.
The consortium includes the Federations of Industries of Santa Catarina (FIESC) and Minas Gerais (FIEMG), along with the National Bank for Economic and Social Development (BNDES). The project will focus on identifying technological challenges, developing solutions, implementing a pilot plant, and scaling to industrial production with industry collaboration.
Appia will provide management support and potential future source of light and heavy rare earths for Brazilian permanent magnet production.
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Toronto, Ontario--(Newsfile Corp. - November 27, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQB: APAAF) (FWB: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce that it has joined the SENAI MAGBRAS initiative which will develop the first rare earth permanent magnet facility in Latin America. The pilot facility is located in Lagoa Santa, Minas Gerais State - Brazil.
The MAGBRAS project was established to develop and implement a roadmap towards national production of rare earth permanent magnets, and includes the Federations of Industries of Santa Catarina (FIESC) and Minas Gerais (FIEMG), together with the National Bank for Economic and Social Development (BNDES), along with numerous private and public sector companies. Part of the Rota 2030/MOVER program, the project aims to establish a complete and permanent rare earth production chain in the country, and to enable Brazil to become an important player on the world stage.
The MAGBRAS consortium plans on developing commercial production of permanent magnets in Brazil using in-country resources "From Mines to Magnets" applying the following plan:
- Identification of technological challenges in producing permanent magnets.
- To develop and test solutions to address the identified technological challenges.
- Implementation of a Pilot Plant to test the metallurgical production of permanent magnets using the resources identified by local production and exploration projects.
- Development and implementation of an industrial scale permanent magnet facility with industry collaboration and support.
Stephen Burega, President, said, "Appia's contribution to MAGBRAS will include an in-kind commitment to support the management and development of the program as well as to provide a potential future source of light and heavy rare earths to be used in the production of Brazilian permanent magnets. Appia is pleased to participate in this extremely important intiative in support of the development of a fully integrated, in-country solution to build rare earth permanent magnets. It is our hope that this initiative will grow and Appia's PCH project can be a key source of the crucial heavy rare earths - Dysprosium and Terbium - needed in the production process to produce magnets with significantly stronger magnetic fields."
About Appia Rare Earths & Uranium Corp. (Appia)
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds the right to acquire up to a
Appia has 149.4 million common shares outstanding, 170.8 million shares fully diluted.
Cautionary note regarding forward-looking statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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Contact:
Tom Drivas, CEO and Director
(c) (416) 876-3957
(e) tdrivas@appiareu.com
Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231546
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