TISDALE, SK — In a move that could redefine the global aluminum supply chain, Canadian Energy Metals Corp. (CEM) has released a blockbuster Preliminary Economic Assessment (PEA) for its Thor Project. The report confirms that a massive deposit in east-central Saskatchewan holds approximately 6.8 billion tonnes of alumina, making it one of the largest mineral discoveries in Canadian history.
Thank you for reading this post, don't forget to subscribe!The Core Highlights
- Global Significance: The deposit represents nearly 33% of the world’s known alumina supply, potentially ending Canada’s reliance on imported raw materials from tropical bauxite mines.
- Economic Titan: The project boasts an estimated US$72.3 billion Net Present Value (NPV) and an internal rate of return (IRR) of 33.8%, signaling high profitability despite an initial $6.3 billion build cost.
- Beyond Aluminum: The site is a “polymetallic” powerhouse, containing significant concentrations of scandium, vanadium, and rare earth elements critical for the EV battery and aerospace sectors.
A “Greener” Approach
“This isn’t just a mine; it’s a multi-generational industrial shift,” says CEO Christopher Hopkins. “We are sitting on the raw materials needed for the next century of aerospace and renewable energy.”
The Road Ahead
While the scale is unprecedented, the project is currently in the PEA stage. Over the next 12–24 months, the company will focus on:
- Pilot Plant: Proving the extraction technology at scale in Tisdale.
- Permitting: Navigating federal and provincial environmental assessments.
- Strategic Partnerships: Seeking major “off-take” agreements with global aluminum smelters.
