Defense Metals
(TSX-V: $DEFN.V) (OTCQB: $DFMTF) in Canadian Mining Report - @defensemetals
REEs Are Critical for the Modern War
Technology
A Massive Catalyst for This
“Tech Defense” Play
January
2,2024 (Investorideas.com Newswire) Mining / Metals / Green Energy
Stock news- Defense Metals Corp. (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE), a mineral
exploration and development company focused on the development of its 100%
owned Wicheeda Rare Earth Element project, was recently featured in Canadian Mining Report in the article , A Massive Catalyst for This “Tech
Defense” Play.
Read the
full article
https://www.canadianminingreport.com/news/custom/a-massive-catalyst-for-this-tech-defense-play
Read this media alert
for DEFN in full at https://www.investorideas.com/news/2024/mining/01021DEFN-Canadian-Mining-Report.asp
Excerpt
A global war for critical minerals is underway.
China has just escalated its export
restrictions for a technology used to produce magnets for high-technology,
biotech, and defense industries. .
These magnets are made of a critical group
of minerals called rare earth elements (or REEs)… .
Before that, China banned technologies to
extract and separate REEs….
It’s one technology ban after another… and
it concerns one of the most critical yet overlooked groups of minerals.
China is home to about 70% of the global
REE supply, and that’s a problem for the rest of the world.
The country’s government can
single-handedly halt the output of REEs. And it looks like it has been taking
steps in that direction.
China
Chokes the Global REE Supply Chain
On December 21, the Chinese Ministry of
Science and Technology and the Ministry of Commerce updated their catalog of
technologies subject to export bans and restrictions.
It was a Christmas “gift” for the West and
an escalation in a trade war that few investors are aware of.
This “war” has been going on for months.
Back in July, China imposed restrictions on gallium and germanium. (Gallium is
used to produce heat-resistant semiconductor wafers; germanium is used as a
semiconductor.)
In November, China introduced restrictions
on the export of graphite , a mineral widely used in electric vehicle
batteries.
And now rare earths are on the list…
It could only get worse in the future. The
geopolitical tensions between China and the West are at their multi-decade
highs. And the looming war in Taiwan makes both parties worried about advanced
military technologies and the components they need.
The global rare-earth-element supply chain
could crumble under the weight of this global confrontation.
REEs
Are Critical for the Modern War Technology
If you have been following the latest
conflicts, you have noticed that drones have become a critical weapon for both
surveillance and attack.
From Ukraine to Iran and Gaza, drones are
used to detect targets and direct precision-guided munitions.
They are cheap to manufacture and expensive
to take down… they are a perfect weapon.
There is only one problem. Drones need rare
earth elements for navigation and flight control, as well as path planning and
obstacle avoidance.
Rare earth elements are also a critical
element of magnets used in all sorts of high-tech applications, from electric
vehicle motors to fighter jets. For example, an F-35 fighter jet is estimated
to contain about 920 pounds of REEs.
The magnets made from REEs are powerful and
light. And there is no direct and economically viable substitute for them
available yet.
By some estimates, the U.S. military needs
about 3,000 tons of REE-based magnets per year.
Including other uses, the country may need
up to 15,000 tons of REE magnets per year.
And there is no robust domestic supply
chain for this important technology yet.
However, this massive need for REE
technology has started a revolution in the North American mining industry
Read the
full article
https://www.canadianminingreport.com/news/custom/a-massive-catalyst-for-this-tech-defense-play
About
Defense Metals Corp.
Defense Metals Corp. is a mineral
exploration and development company focused on the development of its 100%
owned Wicheeda Rare Earth Element project located near Prince George, British
Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN”
on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB,
and in Germany on the Frankfurt Exchange under “35D”.
Defense Metals is a proud member of
Discovery Group. For more information please visit:
For
further information, please visit www.defensemetals.com or contact:
Todd Hanas, Bluesky
Corporate Communications Ltd.
Vice President, Investor
Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
Cautionary
Statement Regarding "Forward-Looking" Information
This
news release contains "forward–looking information or statements"
within the meaning of applicable securities laws, which may include, without
limitation, statements relating to completion of the PFS and the expected
timelines, advancing the Wicheeda REE Project, the technical, financial and
business prospects of the Company, its project and other matters. All
statements in this news release, other than statements of historical facts,
that address events or developments that the Company expects to occur, are
forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking
statements. Such statements and information are based on numerous assumptions
regarding present and future business strategies and the environment in which
the Company will operate in the future, including the price of rare earth
elements, the anticipated costs and expenditures, the ability to achieve its
goals, that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and when needed
and on reasonable terms. Such forward-looking information reflects the
Company's views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and uncertainties relating
to the interpretation of exploration and metallurgical results, risks related
to the inherent uncertainty of exploration and development and cost estimates,
the potential for unexpected costs and expenses and those other risks filed
under the Company's profile on SEDAR at www.sedarplus.ca. While such estimates
and assumptions are considered reasonable by the management of the Company,
they are inherently subject to significant business, economic, competitive and
regulatory uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include, but are not
limited to, continued availability of capital and financing and general
economic, market or business conditions, adverse weather and climate
conditions, failure to maintain or obtain all necessary government permits,
approvals and authorizations, failure to maintain community acceptance
(including First Nations), risks relating to unanticipated operational
difficulties (including failure of equipment or processes to operate in
accordance with specifications or expectations, cost escalation, unavailability
of personnel, materials and equipment, government action or delays in the
receipt of government approvals, industrial disturbances or other job action,
and unanticipated events related to health, safety and environmental matters),
risks relating to inaccurate geological, metallurgical and engineering
assumptions, decrease in the price of rare earth elements, the impact of
Covid-19 or other viruses and diseases on the Company's ability to operate, an
inability to predict and counteract the effects of COVID-19 on the business of
the Company, including but not limited to, the effects of COVID-19 on the price
of commodities, capital market conditions, restriction on labour and
international travel and supply chains, loss of key employees, consultants, or
directors, increase in costs, delayed results, litigation, and failure of
counterparties to perform their contractual obligations. The Company does not
undertake to update forward–looking statements or forward–looking information,
except as required by law.
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