ability to produce an interim concentrate
product significantly reduces the upfront
and operating costs for Browns Range, and
allows it to deliver an end product highly
sought after in the international market.
Mr Bauk said the combination of the
right project, a clear plan for funding
and a management team with proven
experience developing projects represented
an exciting proposition.
We really believe that in Browns Range
we have a project capable of being brought
into production and becoming a meaningful
supplier of heavy rare earths on the global
market,” Mr Bauk said.
Subject to shareholder approval later
this year we will have sufficient funding
in place to complete a bankable feasibility
study and be in a position to make a
development decision by the end of 2014.
A positive decision at this point will see us
become one of the most significant suppliers
of HRE outside of China.”
Northern Minerals has received strong
financial and strategic support from
long-term shareholder, Australia Conglin
International Investment Group (ACIIG).
The company is an arm of private Chinese
entity Conglin Group which has extensive
commodity trading activities in China.
ACIIG has been a key supporter in
allowing Northern Minerals to progress
Browns Range to the point we have, and
will play a pivotal role in delivering the
project for the benefit of all shareholders,”
Mr Bauk said.
Browns Range is also supported by the
growing global demand for its unique spread
of HRE. Heavy rare earth elements such as
dysprosium and yttrium are used in some
of the world’s fastest growing applications.
These include smart phones, televisions and
computers, as well as the increasing use in
clean energy products, such as hybrid cars,
wind turbines and energy efficient lighting.
Now, after the success of the past
12
months, Northern Minerals is even better
positioned to become a significant new
supplier of these HRE elements and one of
the only suppliers outside of China.
We really believe that in
Browns Range we have
a project capable of being
brought into production
and becoming a meaningful
supplier of heavy rare earths
on the global market.