The University of Alberta and CVW announced a joint research project to advance the recovery of rare earth elements from oil sands waste. The partnership will apply mineral separation research and processing technology to capitalize on this abundant source of critical minerals which is currently being lost to tailings ponds. The project will develop commercial grade monazite from oil sands tailings waste, which can be used along with other critical minerals to build batteries, electric vehicles, wind turbines, and other clean technologies to decarbonize the economy.

The recovery of rare earth elements would provide Canada with a new supply of critical minerals that are vital to transition to a lower-carbon economy, and to strengthen Canada's global leadership and security.