Rare Earths Mine in Central Australia One Step Closer to Going Ahead
A rare earths mine straddling the Western Australian and Northern Territory border is one step closer to going ahead after mine proponent, Northern Minerals, secured $6 million in further R&D funding from Macquarie Bank.
The Browns Range project has also been recommended for conditional environmental approval by the Environmental Protection Authority.
The funding will allow the company to complete the project’s Feasibility Study at the end of 2014.
Northern Minerals hopes to begin production in 2016 with the mine expected to produce 279,000 kg of dysprosium a year, over 10 years.
Dysprosium is an essential ingredient in the production of NdFeB (neodymium iron-boron) magnets used in clean energy and high technology solutions.
Northern Minerals is also conducting exploration activities at the geologically similar John Galt and Boulder Ridge projects in Central Australia.
Persons wishing to appeal the EPA’s recommendation have until 1 September to do so.