It has been a wild year for heavy rare earths project developer Northern Minerals (ASX: NTU).
Control of the Browns Range project in the Kimberley was at the centre of the national security conversation in June, and also featured prominently in Kim Beazley’s keynote speech yesterday.
“Without it [DyTb] nothing really works,” Mr Beazley said.
The heavy rare earths elements Dysprosium and Terbium, together DyTb, are the essential ingredient that allows magnets to retain their conductivity at high temperatures – think EV motors, wind turbines, and defence applications.
Northern Minerals managing director, Shane Hartwig, told delegates that Browns Range is the world’s most advanced heavy rare earths project, and with a long-term supply agreement with Iluka (ASX: ILU), the project would play a significant role in the ex-China magnet value chain.
“Our project comes with the heavies – just under 90% in terms of contribution to the industry. It’s the highest grade hard rock DyTb deposit in the country,” he said.
“We are looking to create that alternative (rare earths) supply chain to have that independence (from China) and see if we can provide a security of supply.”
The Company is on track to complete a Definitive Feasibility Study (DFS) by the end of the calendar year, including an upgraded Mineral Resource Estimate. A Final Investment Decision (FID) is targeted for Q1 CY25, and production in 2027.
Touch base with the Purple team. Peter Klinger and Gerard McArtney are in Kalgoorlie-Boulder and will be at Diggers & Dealers for the entirety of the conference.
