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 70% interest in the PCH Ionic Adsorption Clay Project (See June 9th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11th, 2024 Press Release - Click HERE) The Company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.
Appia has 149.4 million common shares outstanding, 170.8 million shares fully diluted.
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