Australian heavy rare earths producer Northern Minerals (ASX: NTU) has released its activities report for the three months to September to the market.
HIGHLIGHTS
· Pilot plant at Browns Range is continuing commissioning with steady state continuous production targeted for the end of CY2020
· The prices of Dysprosium and Terbium have softened within the quarter, with the Dy price up 24% YTD and the Tb price up 16% YTD
· Final assays from the RC program undertaken at Dazzler and Iceman returned the best ever results from Browns Range including
· 52m @ 4.15% TREO from 20m including 18m @ 11.48% TREO from 22m.
· $51 million Federal/State Government funded Browns Range access road initial works commenced
· New offtake agreement with thyssenkrupp executed in August 2019 for all stockpiled and future heavy rare earth carbonate from the Browns Range Pilot Plant Project
· The ore sorting project commenced during the quarter with an ore sorting machine selected and ordered
· Separation scoping study underway with US-based K-Technologies, Inc.
· Ms Xiaohua Liu resigned from the Board during the quarter.
