The balance of about $6.9 million in subscription funds were not received by the due date of October 31, 2019 but NTU has subsequently agreed to extend the completion date for those subscribers to November 30, 2019.
Browns Range project
Northern Minerals aims to build its Browns Range project in WA into the world’s first significant producer of dysprosium outside of China.
The project has several deposits and prospects containing high-value dysprosium and other heavy rare earths, hosted in xenotime mineralisation.
Dysprosium essential ingredient in advanced magnets
Dysprosium is an essential ingredient in the production of DyNdFeB (dysprosium-neodymium-iron-boron) magnets which are used in clean energy and high-tech solutions.
Pilot plant production of heavy rare earth carbonate has commenced and will continue to assist the company in evaluating the economic and technical feasibility of mining at Browns Range.