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Lynas Corporation Ltd.
Summary
| Project: | Mount Weld | |
|---|---|---|
| Deposit: | Mount Weld | |
| Location: | Australia | |
| Commodities: | Rare Earth | |
| Date: | 8/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-8-2018: Lynas Corporation Ltd. announces a Resource Estimation report for its Mount Weld deposit at the Mount Weld project. Updated mineral resource and ore reserve estimate at Mt Weld. Lynas Corporation Limited (ASX:LYC, OTC:LYSDY) is pleased to releas | |
| Resources: | (Reserve, P+P): 19.7Mt @ 8.6% TREO for 1.690Mt TREO contained at Mt Weld | |
| CP/QP: | [Resources]: Alex Whishaw, Andrew Scogings (CSA Global Pty Ltd.) | |
| ABSTRACT: | Lynas Corporation Limited (ASX:LYC, OTC:LYSDY) is pleased to release its updated Mt Weld Rare Earth Mineral Resources and Ore Reserves Statement which shows a substantial increase in tonnage and contained TREO compared with the 2015 Mineral Resources and Ore Reserves Statement. Lynas is a proven and profitable producer and supplier of Specialty Rare Earth Materials to customers all over the world who demand the best technical solution to produce essential, future-facing technologies. Over the past three years, Lynas has established itself as the world’s second largest supplier of Neodymium and Praseodymium (NdPr), used in rare earth magnets employed by the automotive, consumer electronics, automation and wind energy industries. A cornerstone of Lynas’ strategy as a Specialty Materials company is ongoing access to an “assured” reserve. In practical terms, Lynas seeks to maintain Ore Reserves with greater than 25 years life. Mt Weld, in Western Australia, is one of the world’s highest grade operating rare earth mines. The updated Mineral Resources and Ore Reserves Statement consolidates Mt Weld’s position as a Tier 1 Rare Earth deposit. Lynas CEO and Managing Director, Amanda Lacaze commented: “The 2018 Mineral Resources and Ore Reserves Statement demonstrates the overall superiority of the Lynas deposit at Mt Weld based on grade, NdPr content, total REO tonnage and life of mine.” “We are uniquely positioned as an integrated miner and producer of Rare Earths outside China and as a supplier to global manufacturing supply chains. Demand for Rare Earths continues to grow and this update confirms our ability to maintain 25+ year Ore Reserves at the higher output planned as part of our Lynas NEXT initiative, with potential for replenishment and further growth.” | |
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