Northern Minerals is positioned to become the world’s first significant producer of dysprosium outside of China. Accounting for 60% of the Browns Range Project’s (the Project) revenue, dysprosium is the key value driver of the Project and is at the core of Northern Minerals’ marketing strategy. With a high value, high purity, dysprosium rich product, the Company is set to become a long term and reliable supplier of dysprosium and other critical heavy rare earths to world markets.
The Project is a standout amongst its peers. Its xenotime mineralisation is a proven source of supply; its richness in dysprosium, and the ability to upgrade the ore 30 times through beneficiation, clearly sets it apart. This coupled with the Project’s advanced stage of licencing and future exploration potential puts its ahead of many of its competitors.
During the pilot plant stage, the Northern Minerals will supply a mixed RE carbonate to the market. Once in full production the Company plans to deliver a range of products to market, including a mixed RE carbonate, individual RE oxides and DyFe metal. The mixed RE carbonate will be produced at the Project, with the additional two products to be produced via toll treating agreements with separators and metal makers. This strategy has advantages by allowing Northern Minerals to diversify supply, expand its potential customer base and provide flexibility when evaluating offtake options.
Northern Minerals engages regularly with potential offtake partners and global rare earth industry participants. This has advanced direct offtake and toll-separation discussions, as well as ensured that the final mixed RE carbonate product meets specifications for further downstream processing.
The Company has hosted visits to the Project site to show the extent of the xenotime mineralisation and to the pilot plant campaigns to demonstrate its ability to significantly concentrate, and process the ore into a high purity product suitable for downstream separation. Samples of the mixed RE carbonate produced during these campaigns have been supplied to several parties for evaluation to ensure it meets potential customer requirements.
Northern Minerals has received positive feedback from the market and potential offtake partners in response to its new business plan to develop the Project in three stages. The Company is currently working to finalise an offtake agreement for the pilot plant detailed in stage one of the business plan.