Another Successful RC Drilling Campaign

Drilling at Browns Range.

 Northern Minerals close to decision on heavy rare earths mine

Northern Minerals are rapidly approaching a final investment decision at their proposed Browns Range pilot plant after achieving a number of key milestones in the past quarter.

In an update released to the ASX yesterday, the Perth-based heavy rare earths developer stated it was in the final stages of achieving FID thanks to significant recent progress with permitting, contracts, drilling and financing.

If approved for development, the Browns Range pilot plant will be Australia’s first heavy rare earths project and one of a handful of significant non-Chinese producers of dysprosium, which is critical in the manufacture of permanent magnets. Demand is tipped to soar with the worldwide increase in electric vehicles.

Highlights of the past quarter included the appointment of Sinosteel MECC as the EPC contractor, which has appointed Worley Parsons to undertake a detailed design of the pilot plant, with final costings expected to be presented next month.