ABx Group (ASX:ABX) has demonstrated high heavy rare earth extraction can be achieved with larger samples of material, after receiving additional results from larger scale slurry tests at the Deep Leads Project in northern Tasmania.
In the latest work at the Australian Nuclear Science and Technology Organisation (ANSTO), rare earths extraction of between 60-66% dysprosium and 55-62% terbium were achieved, as well as between 65-72% neodymium and 63-70% praseodymium.
Based on the results, ABx and ANSTO have further optimised the process conditions. ANSTO will now undertake impurity removal tests using progressive additions of ammonium bicarbonate.
ABx, which has a market capitalisation of $19.14 million, says the overall program is on schedule, with the MREC sample production expected in Q4 2025.
The source of the material for these tests is a 100kg bulk sample from trial pit DLP002 from the Deep Leads deposit.
ABx notes the larger scale tests represent a key milestone in producing mixed rare earth carbonate (MREC), as the results increase the company’s confidence using environmentally friendly and cost-effective flowsheet in a commercial operation.
CEO Mark Cooksey says the results were predicted based on the earlier in-house and ANSTO testing.
“We are eagerly looking forward to the production of the MREC sample,” Cooksey says.
“Because of high dysprosium-terbium content, high extractions, low impurities and a significant resource, ABx Group continues to receive strong interest from potential customers.”
Magnet rare earth prices remain high, with Benchmark reporting terbium oxide at almost US$1,000 per kg. Cost, insurance, and freight Europe prices for dysprosium and terbium are over three times higher than Chinese domestic prices, illustrating the potential premium for non-China sources of rare earths.
ABx Group is an Australian critical minerals-focused company with three priority projects.
Write to Aaliyah Rogan at Mining.com.au
Images: ABx Group
