ABx Group (ASX:ABX) announced a 70% increase in tonnes and 3% higher grade for the Deep Leads – Rubble Mound and Wind Break rare earth resource located in Tasmania, Australia.
The new resource estimate now sits at 89 million tonnes and has the highest proportion of dysprosium + terbium (4.3% of TREO) of any clay-hosted rare earths resource in Australia, ABx says.
Upon the news, ABx Group Managing Director Mark Cooksey commented: “ABx’s resource is exceptionally enriched in permanent magnet rare earths, especially dysprosium and terbium, which have the highest global supply risk and are almost exclusively produced from ionic adsorption clay rare earth deposits in China and Myanmar. ABx is focused on creating a rare earths project that can address looming supply shortages of these critical minerals.”
