The Canadian company plans to recover the critical minerals from mining tailings.
Canadian exploration and development company Tactical Resources Corp. has secured up to $140 million in financing from Yorkville Advisors Global to accelerate development of its Peak rare earths project in Sierra Blanca, Texas. The company plans to recover and process rare earth elements from existing tailings, waste material left from previous mining operations, rather than developing new mines. This approach could significantly shorten development timelines and help supply North American industries with critical minerals more quickly compared to building a new mine from scratch.
Located about 113 km southeast of El Paso, the Sierra Blanca quarry currently produces ballast material for the Union Pacific railway, crushed rocks that provide stability and support to railway tracks. Under an agreement with the quarry operator, Tactical Resources has secured the right, for a fee, to access tailings material believed to contain rare earth elements. The company also holds an option to acquire the mining lease, which would give it control over the entire quarry operation.
The concentration and recoverability of REEs within the tailings have not yet been fully confirmed, which could affect the project’s economic viability. Tactical Resources plans to conduct additional sampling and testing programs in the near term to better define the project’s potential and advance toward a maiden resource estimate.
More on secondary mining: The U.S. Geological Survey has conducted multiple studies in the past to investigate the potential of extracting critical minerals from tailings, while the Department of Energy has allocated millions to boost rare earth mining from coal tailings.
Photo: iStock/EvgenyMiroshnichenko