Name of the Project
Mt Weld rare earths mine and concentration plant expansion.

Location
Goldfields region of Western Australia.

Project Owner/s
Lynas Rare Earths.

Project Description
The brownfield project will be undertaken at the existing Mt Weld tenure.

Lynas aims to expand production at the mine from 7 000 t/y to 12 000 t/y of neodymium praseodymium by increasing the throughput capacity from 300 000 t/y to 1.3-million tonnes a year by 2024.

Further capacity expansion in existing upstream and downstream production, together with growth options for 2025 and beyond, are being developed. This includes two additional stages at Mt Weld, with each one offering a pathway to an additional 2 400 t of neodymium praseodymium equivalent a year.

Potential Job Creation
The Mt Weld expansion project is expected to create up to 300 jobs during construction and more than 100 ongoing operational jobs in the Goldfields region.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
About A$500-million.

Planned Start/End Date
The project is expected to enter full operation in 2024.

Latest Developments
Lynas has updated its Mt Weld mineral resource statement, reporting a significant increase in tonnage and contained total rare-earth oxides (TREO), compared with the 2018 statement.

The mineral resource surged 92%, from 55.4-million tonnes to 106.6-million tonnes at 4.12% TREO, at June 30, 2024. Ore reserves surged 63%, to 32-million tonnes at 6.44% TREO.

The total contained TREO increased by 63%, adding resources and replacing depletion.

The updated ore reserve supports a more than 20-year mine life at expanded production rates for sufficient concentrate feedstock to produce 12 000 t/y of neodymium/praseodymium oxide finished production, in line with Mt Weld’s expansion capacity.

Lynas CEO and MD Amanda Lacaze has said the 92% increase in mineral resources and the 63% increase in ore reserves from 2018 to 2024 demonstrates the capability of the company to significantly improve orebody knowledge, assure ore reserves and continuously improve reserve extraction efficiencies.

More than 84 000 m of drilling have been performed since the previous mineral resource update in 2018; the 2024 mineral resource includes mineralised clay zones above the saprolite ore zone of up to 3% rare-earth oxide.

The updated ore reserve includes a 92% increase in contained dysprosium oxide.

Dysprosium and terbium are essential for high-performance rare earth permanent magnets used in electric vehicles, and for high-tech electronics. 

“The increase in reserves ensures feed for the recently announced DyTb [dysprosium/terbium] separation circuit at Lynas Malaysia, supporting Lynas to serve the needs of existing customers and acquire new customers,” Lacaze has said.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Lynas Rare Earths, tel +61 8 6241 3800.