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Ngualla rare earth project, Tanzania – update

Mounds of rare earths

16th February 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Ngualla rare earths project.

On the Ngualla carbonatite, southern Tanzania.

Project Owner/s
Peak Rare Earths.

Project Description
The Ngualla project is one of the biggest and highest-grade undeveloped neodymium/praseodymium oxide projects in the world.

It has estimated ore reserves of 18.5-million tonnes grading 4.8% total rare-earth oxides (TREOs) for contained TREOs of 887 000 t. Mineral resources are estimated at 214.4-million grading at 2.15% TREOs for 4.61-million tonnes TREOs.

The project has a mine life of about 20 years, based on only ore reserves.

Run-of-mine throughput is estimated at 800 000 t/y dry ore.

Rare-earth ore mined from the Ngualla deposit will be processed through a concentration plant at the mine site.

Production is estimated 37 200 t/y of concentrate.

In November 2023, Peak released the results of a front-end engineering design that supports the robust economics for the project.

Net Present Value/Internal Rate of Return
The project has a net present value, at an 8% discount rate, of $982-million and an internal rate of return of 33.8%.

Potential Job Creation
Not stated.

Capital Expenditure

Planned Start/End Date
Not stated.

Latest Developments
A final investment decision is targeted by June 2024.

Key Contracts, Suppliers and Consultants
Wood (project management and bankable feasibility study update lead); Oreology Mine Consulting (ore reserve update and mine planning); Knight Piésold Consulting (tailings management and water hydrology); Dhamana Consulting (environmental management); Future Proof (environment, social and governance strategy and reporting); Paulsam Geo-Engineering Company (environmental- and social-impact assessment); Ai (market analysis and pricing outlook; WaterBorne Capital (financial modelling and analysis); and Auralia Metallurgy (metallurgical testing).

Contact Details for Project Information
Peak Rare Earths, tel +61 8 9200 5360 or email

Edited by Creamer Media Reporter


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