Mont Royal Resources (ASX:MRZ) has signed a non-binding memorandum of understanding with the Saguenay Port Authority to support the development of its Ashram Rare Earths Project in Québec.
The agreement positions the Port of Saguenay as a key logistics hub for the processing and export of rare earth concentrates, aligning with Canada's Northern Corridor strategy for critical minerals.
Under the MOU, Mont Royal is evaluating the potential to locate a Hydrometallurgical facility within the Port's industrial zone, leveraging its year-round deep-water port, rail and road connections, and access to essential services including power, water, and gas.
The initiative aims to move the more complex hydrometallurgical processing off-site, reducing technical risk and capital expenditure while enhancing the value chain within Québec.