ANSTO Minerals assists Tasman Metals by developing the hydrometallurgical process for the Pre-Feasibility Study.
Please read a prepared media statement on the subject below:
Mr Mark Saxon, President & CEO, is pleased to provide a summary of the Pre-Feasibility Study (PFS) with an effective date of 13th January 2015 for the 100% owned Norra Karr heavy rare earth element (REE) deposit in Sweden.
The PFS confirms Norra Karr to be an economically robust project, with a long mine life, and the capacity to be a major producer of the most critical REE’s, dysprosium (Dy), yttrium (Y), neodymium (Nd) and terbium (Tb).
PFS Highlights:
- After-tax Net Present Value (NPV) of US$313 million using a 10% discount rate
- Internal Rate of Return (IRR) of 24% pre tax and 20% after tax using a 10% discount rate
- Initial capital cost of US$378 million including contingency – low for long mine life heavy REE producer
- Major exposure to the most critical REE’s, with 74% of revenue from magnet metals Dy, Nd, Pr, Tb, Sm
- Norra Karr is the only REE project at PFS stage within the European Union
- Project able to produce more than 200 tonnes of dysprosium oxide per year for at least 20 years
- Unconstrained mine life is in excess of 60 years with extensive mineralization below and along strike from 20-year pit
- No requirement in flowsheet or economic model for proprietary or commercially untested technologies
Key Project Attributes:
- 25-year mining lease is already granted
- Highest heavy rare earth oxide to total rare earth oxide ratio (HREO/TREO) of all major Western projects at 53%
- Conventional open pit mining, with a constrained 20 year life of mine stripping ratio of 0.73
- Attractive location with extensive transport/power/water infrastructure in place and close to major European REE consumers
- High quality heavy REE-rich concentrate as reported in the Company’s July 9, 2014 press release
- High leverage to anticipated increase in REE prices. Most revenue from Dy, Nd, Tb – the most in demand metals. Only 2.6% of revenue from cerium (Ce) and lanthanum (La) which are forecast to remain in long term oversupply
- High level of reliance on local equipment, reagents and labour
Visit the Tasman Metals Ltd website for further details.
Published: 21/01/2015