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- Northern Mineral’s (NTU) latest shipment from its Browns Range Project will push its rare earth carbonate production total to a company milestone
- The ASX-lister’s latest delivery of dysprosium and terbium — key elements in light electric vehicle production — mark 211,109 kilograms of rare earth carbonate from its wholly-owned Browns Range project
- Northern Minerals is gearing up for significant growth in this market, projecting global light vehicle production to reach more than 100 million units by 2030
- In turn, Northern maintains additional supply from the rare-earths industry will be required for the projected increased demand for dysprosium and terbium
- Northern Minerals is up 5 per cent following the announcement, trading at 4.2 cents per share
Northern Mineral’s (NTU) latest shipment from its Browns Range Project will push its rare earth carbonate production total to a company milestone.
The latest delivery of heavy rare earth carbonate will bring total production from the ASX-lister’s wholly-owned Browns Range project to 211,109 kilograms.
More specifically, the total rare earth carbonate produced contained 103,731 kilograms of Rare Earth Oxides, which includes 9751 kilograms of dysprosium and 1245 kilograms of terbium, both of which are critical elements in the permanent magnet motors used in E-mobility powertrain applications.
This particular landmark delivery, for multinational conglomerate ThyssenKrupp, contains approximately 1835 kilograms of dysprosium and 233 kilograms of terbium.
Northern Minerals has flagged significant potential growth for the light vehicle market, anticipating permanent magnet motor powertrains could account for 75 per cent of the market forecast.
The company also flagged that global light vehicle production is forecast to reach more than 100 million units by 2030 with over half of expected to be electric, full hybrid and mild hybrid electric vehicles.
In turn, Northern maintains additional supply from the rare earths industry will be required for the projected increased demand for dysprosium and terbium.
Northern Minerals Chief Executive Officer Mark Tory spoke optimistically of the industry.
“Despite the operational and supply chain challenges in the past 12 months, the global trend toward electrification of transport continues to accelerate as a result
of regulatory changes and bold decisions by car manufacturers on transition to fully-electric fleets,” he commented.
Northern Minerals is up 5 per cent following the announcement, trading at 4.2 cents per share at 2:10 pm AEDT.
