Frontier Rare Earths Limited (TSX: FRO) announced that the Preliminary Feasibility Study at its Zandkopsdrift rare earth element project in South Africa is nearing completion, an important step in moving towards their target production date in 2016.

As quoted in the press release:

With preparation of the PFS now at a very advanced stage, planning has commenced for the Definitive Feasibility Study (“DFS”) on Zandkopsdrift, which will start immediately after the PFS and is expected to take 9-12 months to complete. Frontier is fully funded to complete the PFS and DFS on Zandkopsdrift from its existing cash resources. Along with its strategic partner, Korea Resources Corporation, which holds a 10% interest in and a 10% off take of production from Zandkopsdrift, Frontier intends to commence rare earth production in 2016, with a target production capacity of 20,000 tonnes of separated rare earth oxides per annum. This would position Frontier as one of the first new major rare earths producers and one of the largest producers of separated rare earths outside China.

To view the whole press release, click here.