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European Lithium (ASX:EUR) has released a preliminary economic assessment for the Tanbreez rare earth project in Greenland, showing its potential to become a standalone mining and processing operation for rare earth and rare metals.
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In the report, the company also had a particular focus on the export of eudialyte.
The assessment, completed by Agricola Mining Consultants Pty Ltd, underscored the project’s strong economics and strategic value – as well as the potential to become a major supplier of critical rare earths outside of China.
Situated close to the fjords of South Greenland about 90 kilometres from Narsaq, Tanbreez is a fully permitted project built around the commodities tantalum, niobium, rare earth elements, and zirconium – from which it takes its name – all hosted within the kakortokite rock of the Ilímaussaq complex.
It was noted for being particularly high in heavy rare earths (around 27% HREE), unlike many other REE projects. The overall resource for Tanbreez is estimated at 45 million tonnes.
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The PEA also outlined the potential for a regular open-pit mining operation focusing on kakortokite ore near the surface and targeting the highest-grade sections of the resource. The latter would be followed to boost the project’s economics in its early stages.
Production of a eudialyte concentrate was highlighted in the report released today too, with this to comprise rare earth oxides including 20%, zirconium oxide, niobium oxide, tantalum oxide, and hafnium oxide: putting it on par with some of the world’s largest, rare-earth operations.
The Tanbreez is also expected to include a multi-decade mine life.
Just past midday, EUR was selling at 3.4 cents – a fall of 12.82% since trade began.
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