{"id":452707,"date":"2021-03-08T09:03:47","date_gmt":"2021-03-08T14:03:47","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452707"},"modified":"2021-03-08T09:03:47","modified_gmt":"2021-03-08T14:03:47","slug":"megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/","title":{"rendered":"MegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n VANCOUVER, BC<\/span>, March 8, 2021<\/span> \/PRNewswire\/ –\u00a0Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the “Company” or “Megawatt”) is pleased with the unveiling of the Australian government’s new 10-year critical minerals value-add plan. Megawatt recently announced its intention to acquire 1260945 B<\/span>.C. Ltd. (“TargetCo”) on March 3, 2021<\/span> and indirectly five properties in Australia<\/span> prospective for rare earth elements-scandium-cobalt. (See News Release dated March 3, 2021<\/span>)<\/p>\n

\n

\n
\n \"MegaWatt
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n
\n Australia’s<\/span>
\n <\/b>
\n \u00a0<\/b>
\n new<\/b>
\n \u00a0<\/b>
\n value-add<\/b>
\n \u00a0<\/b>
\n plan<\/b>\n <\/p>\n

Addressing wide spread concern that China<\/span> largely dominantes the global rare earth element (REE) and critical minerals supply chain, the Australian government has outlined a 10-year road map to accelerate the development of\u00a0 down-stream processing capability. Currently, Australia<\/span> is a fast-growing REE and critical minerals (i.e. scandium & cobalt) supplier, but has only moderate processing infrastructure. As a result, Australia<\/span> is mostly only capturing the upstream part of the value chain through shipping extracted minerals offshore. The new policy is designed to significantly extend the potential benefits by encouraging the manufacturing of value added products produced from the raw materials. <\/p>\n

Critical minerals, including REE-scandium-cobalt, are required in a wide array of technologies ranging from military applications, electric vehicles and smart phones, underscoring the potential opportunity. For its part, the Australian government is set to roll-out a more incentivised environment and create a A$1.3bn<\/span> fund to aid manufacturers in accelerating the commercialization of high demand products for global supply chains. <\/p>\n

With this multi-pronged strategic approach, the Australian government is endeavouring to align with industry, potentially undertake direct investment and encourage businesses to collaborate on key projects to enhance the nation’s value-add manufacturing capabilities for critical minerals. <\/p>\n

\n Timely<\/b>
\n \u00a0proposed<\/b>
\n \u00a0<\/b>
\n acquisition<\/b>\n <\/p>\n

For\u00a0Megawatt,\u00a0the\u00a0announcement\u00a0of\u00a0this\u00a0initiative\u00a0by\u00a0the\u00a0Australian\u00a0government coincides with the\u00a0 strategic decision to acquire the five properties across the Northern Territory (NT) and New South Wales<\/span> (NSW).<\/p>\n

\n
\n A.<\/u>
\n <\/b>
\n \u00a0Rare<\/b>
\n \u00a0Earth\u00a0<\/b>
\n Elements<\/b>
\n \u00a0(NT)\u00a0<\/b>
\n –<\/b>
\n \u00a0<\/b>
\n Arctic<\/b>
\n \u00a0Fox<\/b>
\n \u00a0<\/b>
\n and<\/b>
\n \u00a0<\/b>
\n Isbjorn<\/b>\n <\/p>\n

According\u00a0to\u00a0analysts at\u00a0global\u00a0investment\u00a0bank,\u00a0UBS,\u00a0demand\u00a0for\u00a0key\u00a0REEs\u00a0\u2013 neodymium and praseodymium (NdPr) \u2013 is set to accelerate substantially over the next decade as the green electrification transition gains traction globally.<\/p>\n

The primary drivers are: 1) rapidly expanding global electric vehicle (EV) fleet; and 2) increased use of wind turbines to generate electricity. Placing this in context, each EV requires 1-2kg NdPr, while 200kg goes into each wind turbine. <\/p>\n

As China<\/span> currently supplies approxomately 80% of the world’s REEs requirements, there is a strategic risk mitigation imperative to diversify global supply chains, with Australia<\/span> featuring as a prominent alternative. <\/p>\n

This\u00a0initiative\u00a0provides\u00a0a\u00a0more\u00a0compelling\u00a0argument\u00a0for\u00a0Arctic\u00a0Fox\u00a0and\u00a0Isbjorn\u00a0Projects\u00a0in\u00a0the NT, as both are prospective for REEs. Notably, the Artic Fox Project is contiguous to Arafura Resources’ (ASX: ARU) Nolans Bore REE project, which is due to come on stream in 2022 and supports a JORC Complaint Mineral Resource. Meanwhile, the Isbjorn Project is contiguous to the advanced Charley Creek REE project.<\/p>\n

\n B]<\/b>
\n \u00a0Nickel-cobalt-scandium-HPA<\/b>
\n \u00a0<\/b>
\n (NSW)<\/b>
\n \u00a0\u2013\u00a0Chinook,\u00a0Kodiak\u00a0&\u00a0Caribou<\/b>\n <\/p>\n

Accelerating demand for EVs over the next decade is underpinning higher demand for key inputs such as nickel-cobalt-scandium-HPA. Both nickel and cobalt are used in varying types of batteries for\u00a0EVs. However, strong light-weight scandium-aluminium alloys are essential for reducing EVs weight which in turn delivers longer battery range and improved efficiency. <\/p>\n

The three nickel-cobalt-scandium-HPA properties \u2013 Chinook, Kodiak and Caribou \u2013 are located in central NSW which has the potential to morph into a global supply head for critical minerals, especially scandium-cobalt. The Australian government’s new initiative for critical minerals could jump start the development of companion downstream industries focused on supplying key products for EV manufacturers globally. <\/p>\n

Within\u00a0the\u00a0vicinity\u00a0of\u00a0the\u00a0Chinook,\u00a0Kodiak\u00a0and\u00a0Caribou\u00a0Project\u00a0are\u00a0Alpha\u00a0HPA’s\u00a0(ASX: A4N) Collerina asset and Scandium International’s (TSE: SCY) Nyngan deposit which both support JORC Complaint Mineral Resources.<\/p>\n

\n
\n Chief Executive Officer David Thornley-Hall<\/span> commented: “The Australian government’s new critical minerals policy initiative is a welcome development that will be factored into our exploration strategy. With accelerating demand for electric vehicles and wind turbines, the Board believes the acquisition of five high-quality prospective Australian properties presents a timely opportunity.”<\/i>
\n <\/b>\n <\/p>\n

\n Due<\/b>
\n \u00a0process<\/b>
\n \u00a0<\/b>
\n ongoing<\/b>\n <\/p>\n

While this critical minerals initiative out of Australia<\/span> is encouraging, the Proposed Transaction remains subject to certain closing conditions including, without limitation, (a) entering into the Definitive Agreement; (b) the completion of due diligence; and (c) the receipt by the Company of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange, as applicable. There can be no assurance that the Proposed Transaction will be completed as contemplated, or at all.<\/p>\n

\n About MegaWatt Lithium and Battery Metals Corp. <\/b>\n <\/p>\n

MegaWatt is a British Columbia<\/span> based company involved in the acquisition and exploration of mineral properties in Canada<\/span>. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada<\/span>. <\/p>\n

Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia<\/span>, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020<\/span>) and a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami<\/span> in the Province of Quebec<\/span>, covering 2,126 hectares. <\/p>\n

Investors can learn more about the Company and team at https:\/\/megawattmetals.com<\/a>. <\/p>\n

\n The CSE does not accept responsibility for the adequacy or accuracy of this release. <\/b>\n <\/p>\n

This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company’s common shares on the Exchange and the Company’s use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. <\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals-301242177.html<\/a><\/p>\n

SOURCE MegaWatt Lithium and Battery Metals Corp.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire VANCOUVER, BC, March 8, 2021 \/PRNewswire\/ –\u00a0Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the “Company” or “Megawatt”) is pleased with the unveiling of the Australian government’s new 10-year critical minerals value-add plan. Megawatt recently announced its intention to acquire 1260945 B.C. Ltd. (“TargetCo”) on March 3, 2021 and indirectly five properties in Australia prospective for rare earth elements-scandium-cobalt. (See News Release dated March 3, 2021) Australia’s \u00a0 new \u00a0 value-add \u00a0 plan Addressing wide spread concern that China largely dominantes the global rare earth element (REE) and critical minerals supply chain, the Australian government has outlined a 10-year road map to accelerate the development of\u00a0 down-stream processing capability. Currently, Australia is a … <\/p>\n

Continue reading “MegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452707","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire VANCOUVER, BC, March 8, 2021 \/PRNewswire\/ –\u00a0Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the “Company” or “Megawatt”) is pleased with the unveiling of the Australian government’s new 10-year critical minerals value-add plan. Megawatt recently announced its intention to acquire 1260945 B.C. Ltd. (“TargetCo”) on March 3, 2021 and indirectly five properties in Australia prospective for rare earth elements-scandium-cobalt. (See News Release dated March 3, 2021) Australia’s \u00a0 new \u00a0 value-add \u00a0 plan Addressing wide spread concern that China largely dominantes the global rare earth element (REE) and critical minerals supply chain, the Australian government has outlined a 10-year road map to accelerate the development of\u00a0 down-stream processing capability. 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(CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the “Company” or “Megawatt”) is pleased with the unveiling of the Australian government’s new 10-year critical minerals value-add plan. Megawatt recently announced its intention to acquire 1260945 B.C. Ltd. (“TargetCo”) on March 3, 2021 and indirectly five properties in Australia prospective for rare earth elements-scandium-cobalt. (See News Release dated March 3, 2021) Australia’s \u00a0 new \u00a0 value-add \u00a0 plan Addressing wide spread concern that China largely dominantes the global rare earth element (REE) and critical minerals supply chain, the Australian government has outlined a 10-year road map to accelerate the development of\u00a0 down-stream processing capability. Currently, Australia is a … Continue reading \"MegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-08T14:03:47+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1451201\/MegaWatt_Lithium_and_Battery_Metals_Corp__MegaWatt_Pleased_with.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"MegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals","datePublished":"2021-03-08T14:03:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/"},"wordCount":1090,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1451201\/MegaWatt_Lithium_and_Battery_Metals_Corp__MegaWatt_Pleased_with.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/megawatt-pleased-with-new-australian-government-policy-initiative-that-enhances-potential-for-critical-minerals\/","name":"MegaWatt Pleased with New Australian Government Policy Initiative that Enhances Potential for Critical Minerals - 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