Astron gets govt nod for Victorian rare earth-mineral sands mine
The work plan approval, granted by Resources Victoria's earth resources regulator, marks the final major hurdle before full-scale development can begin at the 42-year life-of-mine project, 15 kilometres east of Minyip. The approval is a critical step for DMS and a major win for Australia's rare earths and critical minerals sector.
Under the joint venture agreement, Energy Fuels is set to earn up to a 49 per cent stake in DMS by injecting $183 million into staged funding for the first phase of development, along with US$17.5 million (A$27 million) worth of its own shares.
The partners are planning a first-phase development covering a substantial 1143 hectares, designed to process 7.5 million tonnes of ore annually. The operation is forecast to deliver about 7000t of rare earth concentrate and 250,000t of heavy mineral concentrate each year.
A potential second phase could extend the mine's life beyond 58 years and significantly increase production capacity.
'We are pleased to receive the Victorian Government's approval for our work plan. It is the result of years of planning, environmental assessment and community engagement.'
Donald Mineral Sands managing director Tiger Brown
The end product is expected to contain a rich mix of strategic minerals, such as zirconium, titanium, neodymium and praseodymium, which are vital for everything from smartphone screens to electric vehicles and defence technologies.
A recent grade control drilling campaign has defined the first two years of mining and revealed zones with up to 40 per cent heavy mineral content.
Plant engineering is advancing, with a modularisation study by Sedgman and Mineral Technologies indicating lower build costs and faster timelines.
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