NeoTerra Group plc has for the first time added heavy rare earth elements to its mineral resource estimate for the fluorspar-gallium fluorite zone and Python target at Monte Muambe in Mozambique.
PRODUCER
The company said that the revised MRE reflected the potential to recover HREE-rich concentrate as a by-product of planned acid-grade fluorspar production.
Revenues are also expected to increase by up to 40% during the life of mine, with only “modest incremental capital expenditure and operating costs”.
Potential production of HREE-rich concentrate could reach up to 650 tonnes per annum, subject to metallurgical optimisation.
Fluorite Zone’s revised inferred MRE is an overall 2.98 million tonnes, with 3,070ppm total rare earth oxides, 800ppm heavy rare earth oxides and 572 ppm yttrium oxide.
Python’s inferred resource stands at 0.48Mt, TREO of 3,130ppm, HREO of 610ppm and 414ppm yttrium oxide.
Chief executive officer Cedric Simonet added: “While further metallurgical and engineering work remains, these results continue to strengthen the business case for the Monte Muambe fluorspar operation and its importance as a near-term producer of strategically important minerals.”