Canada Rare Earth Corp. announced the first shipment of rare earth concentrate from a new supplier is in transit to its customer base. This is the initial shipment of a minimum of 60 shipments anticipated over the five-year period.

The contract, signed 3 September 2021, calls for a total quantity of 18,000 metric tons over a five year period, however, the Company and the supplier are working together to increase this quantity through larger and more frequent shipments. Canada Rare Earth's strategy calls for growing its supply base of rare earth and critical minerals through proprietary properties and various third-party arrangements.