Power Metals Corp (Vancouver, B.C.; www.powermetalscorp.com) yesterday announced the signing of a non-binding Memorandum of Understanding (MOU) with APL Engineered Materials Inc. (Urbana, Ill.; www.aplmaterials.com), a privately owned company with decades of experience in cesium processing and chemical production. Amid limited global supplies of high-grade cesium concentrate, APL has established itself as a market leader in recycling medical-grade cesium iodide.
A key focus for both companies will be to develop a fully integrated North American cesium supply chain for chemical products as global supply continues to decline. The current market for chemicals to support established industries across oil and gas, medical imagery and electronics continues to grow along with the rapid rise in aerospace and defence.
Haydn Daxter, CEO of Power Metals said: “The corporate strategy that Power Metals continues to implement is to maintain our position as a clear market leader in cesium, with our Case Lake Project set to commence production in the near term. Working with APL Engineered Materials Inc. brings another level of technical expertise into a direct market, while providing both parties a clear avenue to potential supply chains across the United States.”
Gautam Gunidah, President of APL stated: “We are excited to be working with Power Metals to develop clear synergies on critical mineral production for a US market. Ensuring industries across North America continue to have secure supply of cesium is crucial to so many applications. The resource that Power Metals has discovered at Case Lake is impressive and its location makes it more beneficial. We look forward to making this collaboration successful in future.”
APL Engineered Materials, Inc. (APL) is a premier global producer of high-purity halides, metals and chemicals. Using proprietary solution and high-temperature capabilities, APL serves as a key mid- and down-stream manufacturer of materials for radiation detection, medical imaging, semiconductor, lighting, energy and defense applications.
Power Metals Corp is a Canadian critical minerals company advancing high-quality exploration and development assets. Its flagship project is the Case Lake Property in Ontario, an advanced exploration-stage, high-grade cesium asset with additional exposure to lithium and tantalum.