What is the story about?
What's Happening?
Northern Minerals has secured a new mining lease at its Browns Range project in Western Australia, doubling the tenure area to 10,458 hectares. This expansion follows native title consents and replaces a previous lease. The new lease supports the development pathway outlined in the definitive feasibility study (DFS) for Browns Range, which targets production of dysprosium and terbium, critical elements for permanent magnets used in electric vehicles and wind turbines.
Why It's Important?
The expansion of mining leases at Browns Range positions Northern Minerals as a key player in the heavy rare earths market outside China. With the global demand for dysprosium and terbium expected to grow, this development could enhance supply diversification and support strategic initiatives in the renewable energy and defense sectors. The project is forecast to supply about 8% of current global output, addressing potential shortfalls and contributing to Australia's critical minerals supply chain.
What's Next?
Northern Minerals plans to begin mining operations with open pits before transitioning to underground operations, supporting an initial 11-year mine life. The company has secured an offtake agreement with Iluka Resources, which will supply concentrate to its Eneabba rare earths refinery, further strengthening Australia's critical minerals infrastructure.
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