Cometh the day, cometh the Cummins Range rare earth study for RareX

Scoping work has pointed to RareX’s Cummins Range rare earths project in Western Australia costing in the order of A$430 million to develop and having an NPV of $633 million (reports MiningNews).

Rare Earths_6

The capex comprises $200 million on a mine and beneficiation plant, and the balance on a Wyndham Port refinery facility.

The latter provides the opportunity of hydroelectric power being incorporated.

The pre-tax IRR was put at 29%.

A pre-feasibility study is due to be completed next year.

As currently envisaged the mine would produce a rare earth mineral concentrate and a phosphate mineral concentrate.

"Further opportunity exists to produce a combined phosphate and rare earth mineral concentrate at site - allowing for reduced site infrastructure - with separation and processing at port," RareX said.

"This should result in a substantially larger mining operation."

Other upside is in the resource which is seen by the company as having "substantial growth potential".

RareX said it had cash and investments totalling $10.3 million at the end of June.

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