During the quarter, the focus has been on the assembly and installation of the $56 million Browns Range pilot plant project in the East Kimberley, WA, which is progressing well.
Highlights
- Assembly and installation of modular plant and equipment nearing completion, ahead of commencement of commissioning.
- Experienced rare earths operations manager, Tony Hadley, commenced as General Manager of the Browns Range Project.
- A Share Purchase Plan (SPP) was completed, with $11.7 million raised at 7.8 cents per share from eligible shareholders.
- High-grade exploration rock chip results returned from regional sampling at Browns Range.
- US$5.4 million received in R&D funding for December quarter expenditure.
- Company presented at the Informa Lithium and Battery Materials conference in Perth.
Browns Range Project Update
Northern Minerals continued assembly and installation works at the Pilot Plant Project for its 100% owned, dysprosium-rich Browns Range heavy rare earth element project, located 160km south east of Halls Creek in the Tanami region of Western Australia and the Northern Territory.
The Company has the opportunity to become the first significant dysprosium producer outside of China through the development of the high-grade Browns Range Project, placing Northern Minerals in a unique position to capitalise on the growing demand for the dysprosium in the production of rare earth permanent magnets commonly used in the production of motors for burgeoning electric vehicles sector, where industry commentators now agree demand has reached an inflection point.
