https://www.engineeringnews.co.za

Tanzanian govt approves licence application for Peak’s rare earth project

22nd July 2021

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

ASX-listed Peak Resources has announced that the Tanzanian government has approved the application for a special mining licence for the Ngualla rare earths project.

Peak is now working with the government to finalise an economic framework agreement, shareholders’ agreement and other documentation required as part of a formal grant of the licence.

The licence marks a milestone in regulatory authorisation required to exclusively mine on the 18.14 km2 property.

The company plans to start construction on the $200-million project by the end of September 2022, following finalisation of funding, offtake and development arrangements. Construction will take about two years.

Once developed, Ngualla will be one of the largest and highest-grade neodymium and praseodymium (NdPr) projects in the world. Its ore reserve currently stands at 18.5-million tonnes, grading 4.8% rare earth oxide, for 887 000 t of rare earth oxide.

These rare earths are used in the production of electric vehicles and wind turbines.

China currently produces 90% of the world’s NdPr oxide and the Ngualla project will position Tanzania as one of the major rare earth suppliers outside of China.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 1.253s - 140pq - 2rq
Subscribe Now