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Northern Minerals

ASX: NTU

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Northern Minerals Limited (ASX: NTU; Northern Minerals or the Company) has completed practical completion of the Browns Range Heavy Rare Earth Pilot Plant Project in northern Western Australia and commenced production of heavy rare earth carbonate.

Through the development of its flagship project, the Browns Range Project (the Project), Northern Minerals aims to build the Western Australian operation into the first significant world producer of dysprosium outside of China.

The Project is 100% owned by Northern Minerals and has several deposits and prospects containing high value dysprosium and other HREs, hosted in xenotime mineralisation.

Dysprosium is an essential ingredient in the production of DyNdFeB (dysprosium neodymium iron-boron) magnets used in clean energy and high technology solutions.

The three-year R&D Pilot Plant Project provides the opportunity to gain production experience, surety of supply for the Company’s offtake partner and assess the economic and technical feasibility of the larger full-scale development.

Exploration Objective

The Company’s main exploration objective is to identify additional high-grade (>0.5% TREO), near-surface (open-pittable) heavy rare earth (HRE) Mineral Resources with xenotime as the dominant rare earth mineral. The primary focus is the immediate Browns Range (WA) area, where the Company is currently in a mine development stage. The Browns Range Dome (NT), Boulder Ridge (NT) and John Galt (WA) projects are also important target areas, with significant high-grade HRE xenotime mineralisation identified at all projects.

Strategy

Northern Minerals’ exploration strategy is to develop a pathway of HRE prospects that can be developed into mineral resources, adding to the Company’s overall mineral inventory and extending the Browns Range Project resource life.

Key Elements

Northern Minerals has significant deposits of heavy rare earths, particularly the high value element, dysprosium. These elements are essential in powering clean energy and high end technology applications. Our current portfolio consists of our Flagship Browns Range project, joined by our and John Galt project in WA. Our Boulder Ridge Project located in the NT rounds out three different and crucial assets in our plan to develop and produce these heavy rare earths. All of our assets are showing positive results so far with excellent recoveries.