Makinglightwork
ofheavyrareearth
George Bauk
Managing Director
Northern Minerals Ltd
Northern Minerals’ Managing Director
George Bauk has every reason to be
confident as the company works towards
the completion of the scoping study for
its Browns Range heavy rare earth (HRE)
project in late 2013.
During the past year the company has
delivered a number of critical milestones,
including a maiden resource, positive
metallurgical results, a non-binding
memorandum of understanding for off-
take with Sumitomo Corporation and
environmental studies, and is now in full
swing to get Browns Range into production
by 2016.
Importantly,
the
company
also
announced a $58 million funding initiative
in February. Delivery of this package is
well underway, including a $26.5 million
fully underwritten rights issue which was
completed in September 2013. Further
funding will also be raised through the
proposed sale of a 16% stake in Browns
Range and a number of non-core assets,
which will be put to a shareholder vote later
in the year.
The funds received have been put to
immediate use, with Northern Minerals
recently completing a 24,000 metre drill
program at Browns Range to support an
upgrade to the current resource.
Results to date have been excellent,
extending HRE mineralisation at the
Wolverine, Gambit West and Area 5
prospects, and supporting the strategy
to grow resources from 22,000 to 29,000
tonnes of rare earth oxide. The expanded
resource will flow into the scoping study,
which is well advanced and on track for
completion before the end of 2013.
Some of the key competitive advantages
for Northern Minerals relate to the style of
mineralisation at Browns Range.
Firstly, the deposit is dominant in
high value HRE elements (in particular
dysprosium
and
yttrium),
which
substantially improves the economics of
future development. Secondly, the HRE
elements are uniquely hosted in xenotime
mineralisation. This allows the ore to be
easily upgraded to a concentrate form
before a conventional hydrometallurgical
process is applied to create a high-grade
mixed rare earth oxide final product. The
RC and diamond drilling at Wolverine
Minesite 2013
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