The company has been assisted by capital received from a share purchase plan which has generated in excess of $10 million in funds.
Pilot plant to commence first production in the first half of 2018
A pilot plant project will commence first production of heavy rare earth carbonate in the first half of 2018.
This will provide the opportunity to assess the economic and technical feasibility of a larger full-scale development.
In the interim, Northern Minerals will continue to actively explore its large tenement position in that region with a view to having feedstock for a highly scalable project.
High-tech products drive demand for dysprosium
Through the development of its flagship Browns Range, Northern Minerals aims to be the first significant world producer of dysprosium outside of China.
Dysprosium is an essential ingredient in the production of technically advanced magnets used in clean energy and high technology solutions.