Key Minerals of the African Continent: Australian Mining Company Sovereign Metals Announces Rare Earths, Graphite and Rutile in Malawi's Kasiya Project
¬ Sovereign Metals Recovers Monazite Containing Rare Earths at the Kasiya Mine Site
¬ Testing Shows That Monazite Contains High-Grade Heavy Rare Earths Alongside Rutile Residues
¬ Rare Earths Are Expected to Become a Low-Cost Byproduct of the Project
The Kasiya Project in Malawi Is Expected to Add Rare Earths to Its Commercial Product List. The Company Developing the Project, Sovereign Metals, Announced on Wednesday That It Has Recovered Monazite at the Mine Site. Previously, the Site Was Promoted Only as a Future Rutile and Graphite Mine.
Monazite Is Considered a Major Source of Rare Earth Elements. The Company Said That This Concentrate Was Extracted from the Residues Generated During the Processing of Rutile at the Project's Dedicated Laboratory in Lilongwe. Preliminary Analysis Shows That It Contains a Large Amount of Heavy Rare Earth Elements, with an Average Grade of 2.9% DyTb and 11.9% Yttrium.
"This Composition Makes the Kasiya Area Stand Out Among All Major Global Rare Earth Producers. The World's Top Five Rare Earth Mines - Which Account for More Than 70% of Global Production - Primarily Focus on Light Rare Earth Elements. Strategic Key Heavy Rare Earths, Which Are Critical for the Advanced Technology, Defense and Industrial Supply Chains of the United States, Japan and the European Union, Are Present in Very Low Levels or Not Present at All in These Deposits," the Company Said in a Statement.
Based on These Results, Sovereign Metals Plans to Conduct Further Work to Assess the Potential of Producing Rare Earths as a Byproduct at the Kasiya Area. These Technical Studies Are Expected to Clarify the Economic Parameters Associated With Such Operations. At This Stage, the Company Is Optimistic About the Feasibility of This Scheme.
Additionally, the Potential Value of These Metals Is Enhanced by the Favorable Technological Conditions Described by Sovereign Metals. The Company Said That Recovering These Metals From the Processing Residues "Does Not Require Additional Complex Processing," Meaning the Marginal Cost of Rare Earth Production Is Nearly Zero, Thus Enhancing the Overall Economic Model of the Project.
Before Receiving More Details, Sovereign Metals Is Currently Conducting a Final Feasibility Study on the Kasiya Project, Which Is Expected to Be Completed This Year. This Study Will Update the Parameters Set in the Pre-Feasibility Study, Which Estimated an Average Annual Production of 222,000 Tons of Rutile and 233,000 Tons of Graphite Over 25 Years, With an Initial Capital Expenditure Estimated at 665 Million Dollars. If the Results Are Satisfactory, Rare Earths May Be Included in the Development Plan.
Source: ecofinagency
Original: toutiao.com/article/1854950032709896/
Statement: This article represents the views of the author himself.