Name of the Project
North Stanmore rare earth project.

Location
Western Australia.

Project Owner/s
ASX-listed rare earth elements and critical minerals explorer Victory Metals.

Project Description
Studies have confirmed that North Stanmore has the potential to be one of the lowest-cost producers of rare earths worldwide.

The current North Stanmore rare-earth elements mineral resource estimate is reported at an economic cutoff grade of more than 330 parts per million (ppm) total rare-earth oxide (TREO) and scandium oxide is 247.5-million tonnes at 493 ppm TREO. 

The estimate includes 176.5-million tonnes at 477 ppm TREO of indicated mineral resources and 70.9-million at 533 ppm TREO of inferred mineral resources.

A total of 13 different rare-earth oxides, plus scandium and hafnium, will be recovered to the saleable concentrate. There will be a focus on heavy rare earths (dysprosium and terbium), which are critical for electric vehicles, wind turbines and defence applications.

Average TREO production over the 31-year life-of-mine (LoM) is estimated at 1.91-million tonnes a year. 

Total production of TREO over the LoM, excluding cerium and lanthanum, is estimated at 59.32-million tonnes. Total production of scandium and hafnium is estimated at 3.08-million tonnes. 

It is proposed that the eight-million-tonne-a-year processing plant be situated within 1 km from the north-east of the proposed pit.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based on conservative price forecasts, the scoping study estimates a net present value, at an 8% discount rate, of A$1.2-billion and an internal rate of return of 52%, with a payback of two years.

Capital Expenditure
A$337-million, including a 30% contingency.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Mincore (scoping study).

Contact Details for Project Information
Victory Metals, tel +61 8 6555 2950 or email info@victorymetalsaustralia.com.