Northern Minerals | Mining | Helping Achieve A Greener World

Helping to achieve a Greener World

PROJECT DIRECTED BY

WRITTEN BY

Chiara Salter

Romana Moares

Northern Minerals

Helping to achieve a Greener World Northern Minerals Limited aspires to be a major supplier of ethically produced rare earth metals and separated products from the world’s largest heavy rare earth element inventory within 10 years.

N

Mark Tory demonstrates Northern Minerals’ new Ore Sorter

orthern Minerals has a large landholding in Western Australia and the Northern Territory, with a current portfolio consisting of three projects, the Browns Range and John Galt projects in Western Australia, and the Boulder Ridge Project located in the Northern Territory.

Of these projects, Northern Minerals’ 100%-owned Browns Range Project is its flagship, where it has built a pilot plant to test a number of deposits and prospects that contain high-value dysprosium and other heavy rare earths (HREs), hosted in xenotime mineralisation.

Mark Tory CEO, Northern Minerals

2

Issue 104 · Business Enquirer Magazine

Following a review in 2016, Northern Minerals developed a new business plan to support the Project’s pathway to production. The plan separates the Project into three development stages and allows Northern Minerals to test the process and market the mixed RE carbonate product, then develop the Project to bankable feasibility study level and finally build the full-scale operation.

The view over Northern Minerals’ Browns Range camp at night

Business Enquirer Magazine · Issue 104

3

Resources Feature The Browns Range Today, China is the dominant force in the rare earth industry, supplying approximately 98% of global demand for heavy rare earths (Dy, Tb) and consuming approximately 70% of global supply.

The vital role rare earths play in the manufacturing of hybrid and electric vehicles and other high-tech applications has prompted countries to seek long-term sustainable supplies to support their domestic industries.

WE’LL WORK ALONGSIDE YOU SO YOU CAN FOCUS ON WHATS IMPORTANT

IT SOLUTIONS THAT EMPOWER YOUR PEOPLE AND LEAD TO BUSINESS SUCCESS

GAIN THE TECHNICAL EXPERTISE TO SET UP YOUR BUSINESS FOR GROWTH

WWW.PSQGROUP.COM.AU / INFO@PSQGROUP.COM.AU / 1300 881 840

Located 160km south-east of Halls Creek in northern Western Australia, the Browns Range Project is the first significant dysprosium producer outside of China.

Northern Minerals’ tenure around the Browns Range Project covers an area of approximately 2,750km2 and is centred on the Browns Range Dome, a major geological feature covering approximately 1,500km2. The Dome is located in the northern Tanami region, within both Western Australia and the Northern Territory.

This massive landholding is highly prospective for heavy rare earth mineralisation with outstanding potential for further discoveries.

Northern Minerals’ exploration success to date has been exceptional, with seven of the targets that have been drilled converted to mineral resources and many more highly prospective targets still to be drill tested.

Northern Minerals has 100% ownership and marketing rights for all but three of the tenements covering the Browns Range Dome. The other three tenements are held by Northern Star with Northern Minerals retaining the full REE rights.

The Project is a standout amongst its peers. Its xenotime mineralisation is a proven source of supply; its richness in dysprosium, and the ability to upgrade the ore 30 times through beneficiation, clearly sets it apart. This coupled with the Project’s advanced stage of licencing and future exploration potential puts it ahead of many of its competitors.

Browns Range Processing Plant

The Appeal Catering Team

Minesite Catering Specialists

Camp Management

Staff Recruitment

We provide catering to the mining industry, from exploration through to 200-man camps. We use only the freshest ingrdients, cooked from scratch, served with a smile!

We also provide comprehensive camp management services to minesites, ranging from freight and logistics through to cleaning and catering.

From full camp management teams to casual contracts, we can help you come up with the ultimate solution to your human resource requirements.

Find out more information:

www.appealcatering.com.au

appealcatering@gmail.com

Business Enquirer Magazine · Issue 104

5

Resources Feature

Northern Minerals

A decade of fast development CEO Mark Tory describes the progress Northern Minerals has made over the last decade: “Since the first discovery some 10 years ago, we have spent over $300 million to date both on exploration and on development of the pilot plant. We are currently reviewing our strategy in relation to downstream processing, with the aim of going full-scale as quickly as possible.”

The pilot plant project has been a three-year research and development project which forms part of a broader ongoing economic and technical feasibility study. In parallel to the feasibility study on the beneficiation plant, Northern Minerals has continued its commitment to invest in exploration across its Browns Range tenement package, says Mark.

He himself has been working in the mining industry for over 30 years. Prior to Northern Minerals, he held senior positions at Crescent Gold Limited, Anglo American Exploration and Homestake Gold (now Barrick Gold). Before joining Homestake, Mark worked for Deloitte in the Audit Division with the majority of his clients being in the mining and resources industry.

Mark is also a member of the Executive Council of the Chamber of Minerals and Energy.

He explains that the key rare earths are dysprosium and terbium, both elements used in permanent magnets to retain charge at high temperatures. “That’s really important for motor vehicle manufacturers for their production of electric vehicles and hybrid vehicles. They don’t want to see their cars sitting on the side of the road, because the magnet doesn’t work. These two elements represent our major revenue items.”

During the pilot plant stage, the Northern Minerals has supplied a mixed RE carbonate to the market. Once in full production the company could deliver a range of products to market, including a mixed RE concentrate, a mixed RE carbonate, individual RE oxides and DyFe metal.

6

Issue 104 · Business Enquirer Magazine

Issue 104 · Business Enquirer Magazine

7

Resources Feature Ethical producer Northern Minerals is set to have truly geopolitical importance. The drive to reduce the world’s dependence on fossil fuels and to decrease carbon emissions, coupled with the growing demand for technology that is faster, smaller and more efficient, is expected to foster significant growth in the rare earths market in the coming decade.

With primary approvals, community support and the use of mining best practices, Northern Minerals is positioned to become the first significant world producer of dysprosium outside of China. Accounting for 60% of the Browns Range Project’s revenue, dysprosium is the key value driver of the Project and is at the core of Northern Minerals’ marketing strategy. With a high value, high purity, dysprosium-rich product, the company is set to become a long term and reliable supplier of dysprosium and other critical heavy rare earths to world markets.

As a mining company, we’re trying to do everything we can to become greener and find more efficient ways of operation.

team is to increase the proposed mine life to at least 20 years which means a doubling or more of the current mineral resource.

“We are also committed to a large exploration programme with $10 million over 12 months. Our aspiration is to be an ethical supplier of heavy rare earths out globally, to help fill a supply gap that the western world has outside of China, in relation to greening the world through electrification.” www.northernminerals.com.au

“

“

Northern Minerals

But the company will also be a green and ethical producer, Mark Tory affirms. “As a mining company, we’re trying to do everything we can to become greener and find more efficient ways of operation. We are looking at solar power and we actively engage with all communities in which our projects are located. By working together, we gain a better understanding of the expectations, challenges and opportunities that are created in these communities through the development of our projects.”

Mark Tory points out that the company made strong progress during 2021 and is well-funded to drive exploration and feasibility studies towards full-scale commercial operation. The main objective of the company’s exploration

8

Issue 104 · Business Enquirer Magazine

Issue 104 · Business Enquirer Magazine

9

Northern Minerals www.northernminerals.com.au

info@busenq.com www.busenq.com