We are focused on delivering our high-grade Ngualla rare earth project to enable low carbon technologies to power the green transformation.
Ngualla is one of the largest and highest grade Neodymium and Praseodymium (NdPr) rare earth deposits in the world, a critical component of high-strength permanent magnets, which are used in the production of electric vehicles and wind turbines.
Compelling NdPr market outlook: Market deficits and rising prices
World class deposit: high-grade, long-life asset
Experienced Board and Management team
Advanced and de-risked projects: BFS and key approvals complete
De-Risked Sequenced Development Strategy: An updated BFS with reduced upfront capex and funding requirements, lower commissioning and technical risk, and optionality on refinery location
Attractive mining jurisdiction: The current President is prioritising the granting of FWAs to aide the transformation of the Tanzanian economy
The Ngualla Project
Our Ngualla Project is located approximately 147km from the city of Mbeya in southern Tanzania and on the edge of the East African Rift Valley. It has a large and high-grade Ore Reserve (18.5Mt grading at 4.8% Rare Earth Oxide (REO) for 887kt REO) and Mineral Resource (214.4Mt grading 2.15% REO for 4.61Mt REO). The deposit benefits from a comparatively high composition of NdPr to REO and low levels of radionuclides and acid consuming elements.
Initial development of the high-grade rare earth concentrate, with future optionality around downstream development. An independent feasibility study to be commissioned on a Tanzanian mixed rare earth carbonate (MREC) refinery. Production optionality exists for refined oxides, including NdPr oxide in future.
The technical information and Competent Persons Statements for the Ore Reserves and Mineral Resources are reported in the Company’s ASX announcements:
22 February 2016, 2 March 2017 and 12 April 2017.