Defense Metals Positions Wicheeda as Strategic Rare Earth Supplier Amid Western Supply Shift

MSD's Ian Wagner speaks with Defense Metals CEO Mark Tory about advancing the Wicheeda rare earth project in British Columbia. The company’s pre-feasibility study outlines production of roughly 5,000 tonnes of NdPr annually, supported by strong economics and a potential 60-40 debt-equity financing structure, including interest from Export Development Canada. Tory highlights China’s dominance in rare earths and how Western governments are working to establish secure supply chains, including pricing floors. With permitting underway and a feasibility study planned, upcoming catalysts include strategic partnerships and potential government-backed funding initiatives.