Northern Minerals (ASX: NTU) completed a strategic review during the March Quarter which concluded that producing and marketing a mixed heavy rare earth concentrate from the proposed commercial-scale beneficiation plant at the Browns Range project in WA’s Kimberley was the preferred near-term strategy.
The strategy is underpinned by the emergence of local customers with capacity and interest in an off-take agreement to purchase the mixed heavy rare earth concentrate feedstock from Browns Range.
Northern Minerals has developed a set of work programs to address risk areas identified during the strategic review which, together with continuing discussions in relation to off-take agreement for the concentrate, will be required prior to restarting the feasibility study for a commercial-scale beneficiation plant at Browns Range.
Dysprosium and Terbium are critical metals in a low carbon future where rare earth permanent magnet electric motors are going to drive the way the world works, from vehicles, to homes, and to industry. Forecast demand for these metals is strong.
Northern Minerals had $4.2 million in cash at March 31.