Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company’s strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.
Great Western Minerals to boost rare earth processing capacity by 50%
Great Western Minerals Group (TSX-V:GWG, OTCQX:GWMGF) is set to increase processing capacity at its 100% owned subsidiary Less Common Metals which produces rare earth based alloys and high purity metals.
British based Less Common Metals was acquired by Great Western Minerals Group in 2008 as part of the company’s ambition to be a vertically integrated rare earths producer. The company currently produces magnets and neodymium-iron-boron alloys.
"LCM has been supplying Rare Earth alloys and powders to large international companies for more than eighteen years," said GWMG President and CEO Jim Engdahl. "Our customers appreciate LCM's proven quality as well as our Company's plans to be a fully integrated Rare Earths producer. In today's environment, it is evident that certainty of supply will be more crucial than ever to end users of Rare Earths production."
The new furnace is expected to be in production in the third quarter of 2011.
"Given our focus on becoming a fully integrated Rare Earths producer, the recent news stories about disruptions of Rare Earth materials from China have further elevated the level of international interest in GWMG and Less Common Metals," added Engdahl.
