New rare earth mine coming to Western Australia
Northern Minerals' (ASX:NTU) flagship rare earth project Browns Range received a major push Monday after the company announced it has secured a $6 million funding rom Macquarie Bank Limited and the Environmental Protection Authority recommended it for conditional environmental approval.
The proposed mine straddles the West Australian and Northern Territory border on the Browns Range Dome and is expected to produce 279,000 kg of dysprosium a year over its 10-year mine life, with production slated to begin in 2016.
Dysprosium is an essential ingredient in the production of NdFeB (neodymium iron-boron) magnets used in clean energy and high technology solutions.
EPA chairman Paul Vogel said the agency recommended several conditions for the mine, including the advance of a significant fauna conservation plan before any ground-disturbing activities begin.
The EPA's report will be open for appeal until September 1.