Name of the Project
Ngualla rare earths project.
Location
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
$286.9-million.
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 info@peakrareearths.com.