Australian heavy rare earths developer, Northern Minerals Limited (ASX: NTU) is pleased to announce that the Board has approved the development of 100 percent owned Browns Range heavy rare earths pilot plant project in Western Australia. The pilot plant project will be used to assess the economic feasibility of a full-scale project and forms part of a broader ongoing feasibility underpinning the Browns Range project.
Browns Range is one step closer to becoming Australia’s first heavy rare earths project with a focus on the production of dysprosium. Browns Range is globally significant as it could provide and alternative source of dysprosium supply outside of China. Dysprosium is a key component in the manufacture of permanent magnets, used extensively in electric motors, particularly those in high temperature applications like electric vehicles.
- Three-year pilot plant project approved by Northern Minerals’ Board
- Capital cost of A$56million, funded by a combination of equity, debt, offtake, pre-payments and deferred payments
- During the pilot plant project, Browns Range is expected to produce 148,200kg of dysprosium in 1,719,000kg of total rare earth oxide in a mixed rare earth carbonate.