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Torngat Metals has postponed its target for starting rare earth production at the $2 billion Strange Lake project in northern Quebec to 2029-2030 due to permitting delays. The company aims to publish a bankable feasibility study in the first half of 2026 and complete environmental assessments by the end of the year.

The project includes a mine in Nunavik, a 180-km road to Voisey's Bay, and an $800 million rare earth separation plant in Sept-Îles. Strange Lake is notable for its heavy rare earth content, particularly dysprosium and terbium, essential for green technologies.

Torngat is negotiating with six First Nations for community approvals and equity stakes, aiming to include Indigenous ownership. The company has secured $165 million in loans and could receive up to $500 million from the Canada Infrastructure Bank. Torngat seeks to position itself as a key player in North America's rare earth supply chain.