Peak Resources reported that a metallurgical flowsheet has been successfully demonstrated by the company which resulted in high purity and high grade rare earth carbonate product from weathered samples obtained from the Ngualla project, located in Tanzania.
50.3% high grade rare earth carbonate
This project, based outside of China, happens to be the fifth largest rare earth deposit in the world and also the highest grade among the top seven. This phase, which was realized within the stipulated time and budget, marks a major achievement in the company’s development
The Proof of Concept is a significant advancement in the development of Ngualla project into a long term, low cost rare earth producer. The high-grade concentrate coupled with high recoveries further adds to Ngualla's high grade mineralisation geology. Lowest thorium and uranium levels are additional advantages.
According to Peak Resources’ Managing Director, Richard Beazley, these latest turn of events are quite outstanding and represent a major milestone, particularly in view of the fact that this feat was achieved after nine months of test work when compared to the time taken by the rare earth resource sector. This only reiterates the company's target of starting production in 2016, which is a shorter period to deliver when compared to other rare earth projects.
Beazley added that the capital expenses for this extraction procedure will be comparatively less than the rest of the industry. In fact, the environmental benefits realized from this type of technique against other leaching techniques are tremendous.
The company is strategically placed to collaborate with potential partners and clients to outline the required product specifications, to begin talks for long term product supply, and to promote financial arrangements to realize project to production.
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