Browns Range PFS proves up
PERTH (miningweekly.com) – The economics of ASX-listed Northern Minerals’ Browns Range heavy rare earths project has been confirmed by a prefeasibility study (PFS), which estimated that the project would have a net present value of some A$446-million.
The PFS was based on a conventional mining operation involving both opencut and underground operation, with the Browns Range expected to deliver some 279 000 kg/y of dysprosium, over a mine life of ten years.
The Western Australian project would require a capital investment of A$314-million.
“The completion of the PFS is another major milestone for Browns Range and has confirmed the project is robust and well positioned to become a significant global dysprosium supplier,” said Northern Minerals MD George Bauk.
He noted that the PFS had reinforced that the xenotime mineralisation at Browns Range was a key competitive advantage for the project, allowing Northern Minerals to significantly concentrate the ore through the beneficiation process, and delivering a competitive cost estimate.
“The positive results from the PFS will support the project’s continuation to feasibility study as we move towards a 2016 production target,” Bauk added.
“Once in full production, the project will deliver A$173-million average annual operating free cash flow, which will be an outstanding result for shareholders.”
Northern Minerals was recently granted a mining lease for the Browns Range project.
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