ANSTO Minerals assists Northern Minerals in successful issuing of Pre-Feasibility Study for the Browns Range Heavy Rare Earth Project in Western Australia.
Read the media statement from Northern Minerals below:
Highlights
- Pre-feasibility study demonstrates the potential for Browns Range to be the first significant world producer of high value dysprosium1 outside of China.
- $314M pre-production capital for a 10 year operation producing 279,000kg of dysprosium1 per annum with ongoing exploration potential.
- Average annual operating free cash flow of $173M post tax and royalties for a net present value of $446M2
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Northern Minerals Limited (ASX: NTU) is pleased to announce the completion of its Preliminary Feasibility Study (PFS) for the Company’s 100% owned Browns Range Project (Browns Range or the Project) in northern Western Australia.
The PFS has confirmed robust project economics for Browns Range, where the Company is aiming to commence production of dysprosium and other heavy rare earths (HREs) by the end of 2016.
The PFS is based on a conventional mining operation involving both open cut and underground operations, and a relatively simple processing flowsheet with all infrastructure located on site.
The Project includes a base case production rate of 279,000kg of dysprosium per annum,contained within 3,200,000kg of high purity mixed rare earth (RE) oxide.
The PFS verifies the potential for Browns Range to be the first significant world producer of high value dysprosium outside of China. Dysprosium is an essential ingredient in the production of NdFeB (neodymium-iron-boron) magnets which are used in clean energy and high technology applications. Dysprosium is in high demand and critical short supply globally.
The four deposits discovered since 2010 remain open at depth and have further exploration potential.
Several additional prospects displaying similar geological characteristics to Wolverine have also been discovered at Browns Range which support the potential for further significant dysprosium discoveries.
NTU’s distinctive capabilities lie in its ability to deliver a high value, high purity, dysprosium rich product to market. The high concentration achieved through the beneficiation process has resulted in a competitive pre-production cost estimate, making the Project a globally competitive dysprosium supplier.
Visit Northern Mineral's website for more information.
Published: 14/06/2014