How Mont Royal’s Saguenay Port Deal Could Transform Ashram Rare Earths Project
Mont Royal Resources has signed a non-binding Memorandum of Understanding with the Saguenay Port Authority to explore locating a hydrometallurgical facility for its Ashram Rare Earths Project in Québec, leveraging the port’s strategic logistics and industrial infrastructure.
- Non-binding MOU with Saguenay Port Authority signed
- Potential hydrometallurgical facility to be located in Saguenay industrial zone
- Port offers year-round deep-water access and integrated logistics
- Agreement aligns with Canada’s Northern Corridor initiative
- Strategic move to reduce technical risk and capital expenditure
Strategic Partnership for Rare Earths Development
Mont Royal Resources Ltd has taken a significant step forward in advancing its Ashram Rare Earths Project by signing a non-binding Memorandum of Understanding (MOU) with the Saguenay Port Authority in Québec, Canada. This agreement sets the framework for cooperation to potentially locate a hydrometallurgical processing facility within the Port of Saguenay’s industrial zone, a move that could reshape the project’s development strategy.
The Ashram Project, known for its large monazite-dominant rare earth deposit, stands to benefit from the port’s year-round deep-water access and integrated logistics network, including road and rail connections. This infrastructure is critical for importing rare earth concentrates from the mine site and exporting refined intermediate products to global markets.
Leveraging the Port of Saguenay’s Industrial Strengths
The Port of Saguenay is strategically positioned in the Saguenay-Lac-St-Jean industrial region, offering a well-serviced industrial-port zone with access to power, water, gas, and transport infrastructure. Adjacent to mature mining and processing operations, the region provides a skilled workforce and a supportive service industry, which Mont Royal sees as key to reducing technical risks and capital expenditure.
Mont Royal’s Managing Director, Nicholas Holthouse, emphasised the strategic fit – "Moving the more complex hydrometallurgical portion of the Ashram flowsheet away from the mine site to Saguenay allows us to leverage existing infrastructure and expertise, aligning perfectly with our development goals."
Alignment with Canada’s Critical Minerals Strategy
The MOU also aligns with Canada’s broader Northern Corridor initiative, which aims to develop critical mineral supply chains and infrastructure to support the energy transition and clean technologies. The Port of Saguenay is recognised as a key logistics hub within this corridor, enhancing Canada’s position in the global critical minerals market.
Port CEO Carl Laberge highlighted the mutual benefits – "This collaboration reflects the strategic strengths of the Port of Saguenay and supports the development of the critical minerals sector, fostering industrial innovation and regional competitiveness." Meanwhile, local leadership, including Saguenay’s Mayor Luc Boivin, underscored the economic significance of the partnership for the region’s future.
Next Steps and Considerations
While the MOU is non-binding and subject to further technical, commercial, and regulatory evaluations, it marks an important milestone in Mont Royal’s project timeline. The company will continue to assess the feasibility of establishing the hydrometallurgical facility at Saguenay, with the potential to unlock efficiencies and enhance the project’s overall economics.
Investors and stakeholders will be watching closely as Mont Royal navigates the next phases of formal agreements and regulatory approvals, which will be critical to realising the full potential of this strategic partnership.
Bottom Line?
Mont Royal’s collaboration with Saguenay Port could redefine its rare earths project’s logistics and processing approach, but formal agreements and approvals remain key hurdles ahead.
Questions in the middle?
- Will Mont Royal finalise a binding agreement to establish the hydrometallurgical facility at Saguenay?
- How will this partnership impact the project’s capital expenditure and timeline?
- What are the regulatory and environmental challenges associated with relocating processing to the port zone?
