Jeet Basi, President and Executive Chairman of Tactical Resources, has an extensive background in sciences, engineering, and the mining, metals, and commodities business. His journey from a curious child conducting simple science experiments to a leader in the field of rare earth elements is both inspiring and instructive.
Jeet’s Childhood Experiment and Career
Jeet Basi’s fascination with chemistry and engineering began with a childhood science experiment in grade 5 or 6. Along with his partners, Jeet was tasked with separating a mixture of sand, salt, and metal filings. They successfully used a magnet to extract the iron filings and dissolved the salt in hot water. This early experiment ignited Jeet’s passion for the sciences, leading him to pursue mining and mineral process engineering.
With over 20 years of experience in the mining, metals, and commodities industry, Jeet has worked for notable companies such as Tech Resources, Goldcorp, and Newmont. His expertise spans complex metallurgy, mine permitting, and capital markets. Recently, he has been focusing on energy metals like lithium and uranium, showcasing his adaptability and continuous pursuit of knowledge in the ever-evolving mining industry.
Rare Earth Elements in Modern Technology
During his discussion, Jeet Basi emphasized the critical role of rare earth elements in modern technology. These elements are fundamental components in various advanced technologies, including:
- Cell phones
- Laptops
- Electric vehicles
- Wind turbines
- MRI machines
- Lasers
- Military applications
Rare earth elements, which include the Lanthanides, Scandium, and Yttrium, possess unique electromagnetic properties that make them indispensable for cutting-edge technology.
Extraction Plans and US Government Support
Tactical Resources, under Jeet’s leadership, plans to extract rare earth elements from a waste stream generated by an existing rock quarry. This innovative approach not only provides a sustainable way to source these critical materials but also aligns with the broader objectives of environmental responsibility.
Jeet also highlighted the company’s upcoming listing on the Nasdaq, marking a significant milestone in their growth and development. Additionally, he acknowledged the support from the US government for rare earth element development, recognizing the strategic importance of these materials and the need for a diversified supply chain.
China’s Control of Refining and Production
Jeet discussed the vulnerability of the West due to China’s control of 90% of refining and production supply. He mentioned only two mines at scale in the Western world: one in California and one in Australia. He also introduced their flagship asset, the Peak project in Texas, which focuses on American assets, advanced assets, and clean processing due to its unique geologic and mineralogical signature.
Rare Earth Element Extraction Plans
The company plans to extract rare earth elements from a 20-year stockpile of waste generated by an existing rock quarry. They are currently in the exploration and development stage, focusing on extraction techniques and building a phase one starter processing facility in Texas. The success of this operation is tied to their strategic partnership with the rock quarry operation. The US government supports rare earth element development as a bipartisan issue.
Conclusion
Jeet Basi’s journey from a curious child to a leader in the mining and rare earth elements industry is a testament to the power of early inspiration and dedicated pursuit of expertise. His insights into the critical role of rare earth elements in modern technology and Tactical Resources’ innovative extraction plans underscore the importance of these elements in shaping our technological future. With strategic support and sustainable practices, Jeet and his team are poised to make significant contributions to the field of rare earth elements.
About Jeet Basi
Mr. Kuljit (Jeet) Basi is the President and Executive Chairman of Tactical Resources. He is an established mining industry professional with over 17 years of technical leadership experience in global public mining companies including Newmont Corporation, Goldcorp Inc. and Teck Resources Ltd. Mr. Basi has a passion for growing a collaborative culture of technical excellence focused on maximizing net asset values. He has also been the principal consultant for SVK Metrix Inc., which provides consulting advice to numerous natural resource companies including Modern Mining Technology Corp. and Ausenco Engineering. Mr. Basi obtained his Bachelor of Applied Science in Mining and Mineral Process Engineering degree from the University of British Columbia with a Minor in Commerce in 2006.
About Tactical Resources
Tactical Resources is a mineral exploration and development company focused on U.S.-made rare earth elements used in semiconductors, electric vehicles, advanced robotics, and most importantly, national defense. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REEs development potential. The Company’s flagship asset, the Peak Project, contains the rights to acquire rare earth elements (“REEs”)-enriched tailings and stockpiled materials extracted from the Sierra Blanca Quarry (“SBQ”). The Peak Project is a REE-focused project strategically located southeast of El Paso, Texas. This convenient location in a mining-friendly jurisdiction offers extensive infrastructure, including easy highway, power, water, and rail line access. The Peak Project is one of only a few rare earth hard rock direct-leach-extractable projects in the world, with initial quarry operating permits already in place. The Company also has an exclusive option to purchase SBQ’s mining lease and associated infrastructure for the Peak Project.
