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Northern Minerals (NTU) - Breaking Ground At Browns Range

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Northern Minerals (NTU) has commenced earthworks at its 100% owned Browns Range heavy rare earth projects in Western Australia. The project is commencing at a pilot plant scale to test mining methodologies, ore variability, the process flowsheet and logistical / market dynamics. Capex of $39m is fully funded through a combination of equity, Research and Development (R&D) financing, debt, offtake pre-payments and deferred payment agreements. Browns Range is a highly strategic project given its unique Dysprosium (Dy) rich heavy rare earth oxide (HREO) mineral assemblage and low sovereign risk jurisdiction. Dy has 6-12%pa forecast demand growth out to 2025, largely driven by its application in high strength magnets used in electric vehicle (EVs) motors.  

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