https://www.miningweekly.com

Northern gets A$14m for pilot project

15th June 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Heavy rare earths developer Northern Minerals has secured A$14-million in funding to finance its Browns Range pilot plant project, in Western Australia.

The company this week reported the execution of an agreement with The Lind Partners, with the funding to be provided as second-ranking secured convertible securities, with a 30-month term.

The funding will be drawn down in two A$6-million tranches and two A$1-million tranches, based on specific events and aligning with the pilot plant timetable.

The proposed A$56-million pilot plant is a tenth of the scale of the full operation, and has a 60 000 t/y crushing beneficiation circuit, and 3 200 t/y hydrometallurgical plant, which will produce 590 t of total rare earth oxide in a mixed rare earth carbonate.

The first mixed rare earth carbonate production is expected in mid-2018.

The pilot plant is scheduled to operate for three years, during which time Northern Minerals will take a decision on whether or not to commit to the full-scale operation.

Edited by Creamer Media Reporter

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.162 0.196s - 106pq - 2rq
Subscribe Now