Northern Minerals Ltd. (ASX:NTU) announced a new business plan that outlines how it will take the Browns Range project into production. The plan separates development of the project into three stages, and takes into account current market conditions for rare earths.

Three stage business plan to take Browns Range into full production.
Stage one incorporates the construction of a test pilot plant at Browns Range with a 60,000tpa capacity to produce 49,000kg dysprosium, in 590,000kg TREO per annum.
Test pilot plant will de-risk the full scale project, and position Browns Range as the world’s leading long term supplier of heavy rare earths.
New business plan and stage one well received by potential offtake partners and strategic investors.
Stage one expected to be funded by strategic investors and offtake partners on attractive terms, negotiations underway

George Bauk, managing director of Northern Minerals, commented:

During the development of this plan Northern Minerals has been working closely with potential offtake partners to assess whether short term production from the pilot plant, followed by longer term production of a premium product from a full scale operation would be acceptable in the market. The response has been extremely encouraging, with Northern Minerals confident that this new approach will result in it realising its vision to become the first significant dysprosium producer outside of China.

Click here to read the full Northern Minerals Ltd. (ASX:NTU) press release.