.IlukaResources and NorthernMins have struck a partnership over the Browns Range RareEarths project offtake mining funding finance investment resources
PERTH – Rare earth miners Northern Minerals and Iluka have struck a strategic partnership agreement over the Browns Range project, with Northern Minerals announcing a A$78-million funding package.
Construction is slated to start in the second half of this year, and first production is expected in 2025. The call option could be exercised at any time until the end of December 2025, and is conditional upon a positive FID for the Browns Range project and Iluka completing a due diligence on the project’s DFS.
“These funding initiatives and our strategic partnership with Iluka are a major step towards achieving our goal of developing Browns Range into a significant alternative producer of dysprosium and terbium, which are critical metals in a low carbon future increasingly reliant on rare earth permanent magnetic electric motors,” said Northern Minerals executive chairperson“We can now confidently proceed with plans to establish a commercial-scale beneficiation plant at Browns Range.
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