In the chaos of yesterday’s market, Lynas Rare Earths’ (ASX:LYC) encouraging update on its reserve position went unnoticed.
But the bottom line is that the company said the duration of its total mineral resources at its uncommon Mount Weld earth deposit, near Laverton, Western Australia, has increased by more than 40% over the past six years.
The company told ASX the mineral resource estimate (MRE) for Mount Weld now stands at 106. 6 million tonnes at an average grade of 4. 12% rare earth oxides (TREO) overall. The update was delivered as part of the company’s presentation at the annual Diggers and Dealers birthday event in Kalgoorlie, which began yesterday.
The 106. 6 million tonnes imply a total of 4. 39 million tonnes of TREO, 46% more than the last MRE published in June 2018.
MRE’s construction at Mount Weld follows 84,000 metres of drilling over the past six years, targeting rare mineral resources surrounding the open-pit mine in the saprolite zone and up to two hundred metres below surface.
More importantly, Lynas also reported a 63% increase in ore reserves, which now total 32 million tonnes with a TREO of 6. 44%. This also includes a 92% increase in dysprosium oxide (Dy) contained, with all the heavy and uncommon ground detail qualities. , adding terbium oxide (Tb), as discussed in the company’s statement.
The increased ore reserves allow for a mine life of more than 20 years with a production capacity of 12,000 tonnes per annum (tpa) of neodymium praseodymium oxide (NdPr) finished product, which aligns with the recently constructed Mount Weld expansion. it also supports a mining life of more than 35 years with a production capacity of 72,000 tpa of 72,000 tpa of NdPr oxide-based finished products.
“We are pleased to release the 2024 Mineral Resources and Ore Reserve Statement, which demonstrates the remarkable benefits of the Lynas Mount Weld deposit in terms of grades, overall REO tonnage, NdPr quality, and DyTb (dysprosium and terbium) quality,” Amanda, Chief Executive Officer. Lacaze said in a statement to the ASX on Monday. This upgrade provides a 20-year shelf life to my NdPr finished product production capacity of 12,000 tpa, giving our consumers confidence that we can meet their desires for responsibly produced rare terrestrial materials, now and in the future. “
Lacaze said the improvement of MREs and ore reserves demonstrates Lynas’ ability to control deposits, secure ore reserves and continued reserve extraction efficiency.
“Dy and Tb are critical for high-performance rare-earth permanent magnets used in electric cars and for high-tech electronics,” Lacaze said. “The increased bookings ensure that the newly revealed D&Tb separation circuit is provided to Lynas Malaysia, enabling Lynas to serve its existing consumers and capture new ones.
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WT Financial Group Limited (WTL) is a diversified money company in development, founded in 2010 and indexed to the Australia Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). He has approximately 275 advisers at over two hundred money advisory firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
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