Peak moves on UK refinery
PERTH (miningweekly.com) – ASX-listed Peak Resources has exercised its £1.8-million option for a 250-year lease to develop a rare earth refinery in the Tees Valley, in the UK.
The company intends to construct its Teesside refinery on the site to receive high-grade rare earth concentrate from its Ngualla rare earth project, in Tanzania, which would produce neodymium praseodymium (NdPr) oxide as well as other separated rare earth products.
Construction and development of the refinery is expected to cost some $160-million, and will create around 130 long-term jobs, Peak said on Friday.
“This is a significant milestone for Peak and our strategy to become one of the major integrated producers of NdPr oxide outside of China. With incredibly strong global demand for non-Chinese rare earths, we are ideally placed to supply these critical commodities, which are driving the electrification and decarbonisation revolution,” said Peak MD Bardin Davis.
“The Teesside location provides a major competitive advantage with its ‘plug and play’ infrastructure, skilled labour force and proximity to potential customers, while its Freeport status provides tangible tax and other benefits.
“Our refinery is also poised to make the UK a major supplier of NdPr oxide, supporting its transition towards a net zero carbon economy and the development of its cleantech supply chain.”
A bankable feasibility study into both the Ngualla rare earth project and the Teesside refinery was completed in 2017.
It was estimated that the $165-million refinery will produce around 2 810 t/y of high purity NdPr oxide, around 625 t/y of combined mid and heavy rare earth carbonate, some 7 995 t/y of lanthanum rare earth carbonate, and 3 475 t/y of cerium rare earth carbonate sourced from the Ngualla project.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation