The City of Elliot Lake and Pele Mountain
Sign Sustainable Energy Development Agreement
Pele Mountain Provides Update on Development Plans and Progress in Elliot Lake
Pele Mountain Resources is focused on the sustainable development of power generation, energy storage and mineral processing in Northern Ontario.
Pele’s Eco Ridge project has unique characteristics that make it an attractive development site, including excellent regional infrastructure, strong local support, and its strategic location in Elliot Lake, Canada’s only historic rare earth mining and processing camp. Pele remains committed to advancing Eco Ridge as host to Canada’s first rare earth processing centre and its extensive NI 43–101 mineral resources continue to provide exposure and leverage to rare earths and uranium.
The protracted downturn in the rare earth and uranium markets has prompted Pele to expand its business model to include electricity generation and energy storage projects, beginning in Elliot Lake. Pele sees considerable opportunity in this rapidly growing sector and is working with leading energy industry professionals and suppliers of advanced technologies to provide a range of customized benefits to municipal and industrial electricity consumers in Northern Ontario.