January 2, 2024 (www.waternewswire.com) 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.
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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
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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
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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