Total
0
Shares
Northern Minerals (ASX:NTU) - CEO, Mark Tory
CEO, Mark Tory
Source: 6PR
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Northern Mineral’s (NTU) latest shipment from its Browns Range Project will push its rare earth carbonate production total to a company milestone
  • The ASX-lister’s latest delivery of dysprosium and terbium — key elements in light electric vehicle production — mark 211,109 kilograms of rare earth carbonate from its wholly-owned Browns Range project
  • Northern Minerals is gearing up for significant growth in this market, projecting global light vehicle production to reach more than 100 million units by 2030
  • In turn, Northern maintains additional supply from the rare-earths industry will be required for the projected increased demand for dysprosium and terbium
  • Northern Minerals is up 5 per cent following the announcement, trading at 4.2 cents per share

Northern Mineral’s (NTU) latest shipment from its Browns Range Project will push its rare earth carbonate production total to a company milestone.

The latest delivery of heavy rare earth carbonate will bring total production from the ASX-lister’s wholly-owned Browns Range project to 211,109 kilograms.

More specifically, the total rare earth carbonate produced contained 103,731 kilograms of Rare Earth Oxides, which includes 9751 kilograms of dysprosium and 1245 kilograms of terbium, both of which are critical elements in the permanent magnet motors used in E-mobility powertrain applications.

This particular landmark delivery, for multinational conglomerate ThyssenKrupp, contains approximately 1835 kilograms of dysprosium and 233 kilograms of terbium.

Northern Minerals has flagged significant potential growth for the light vehicle market, anticipating permanent magnet motor powertrains could account for 75 per cent of the market forecast.

The company also flagged that global light vehicle production is forecast to reach more than 100 million units by 2030 with over half of expected to be electric, full hybrid and mild hybrid electric vehicles.

In turn, Northern maintains additional supply from the rare earths industry will be required for the projected increased demand for dysprosium and terbium.

Northern Minerals Chief Executive Officer Mark Tory spoke optimistically of the industry.

“Despite the operational and supply chain challenges in the past 12 months, the global trend toward electrification of transport continues to accelerate as a result
of regulatory changes and bold decisions by car manufacturers on transition to fully-electric fleets,” he commented.

Northern Minerals is up 5 per cent following the announcement, trading at 4.2 cents per share at 2:10 pm AEDT.

NTU by the numbers
More From The Market Herald
Renegade Exploration (ASX:RNX) -Chairman, Robert Kirtlan

" Renegade Exploration (ASX:RNX) enters JV agreement with Burke Copper

Renegade Exploration (RNX) has entered a joint venture transaction with Burke Copper.
Biogene Technology (ASX:BGT) - CEO, Richard Jagger

" Bio-Gene Technology (ASX:BGT) signs research deal with University of Florida

Bio-Gene Technology (BGT) has signed a research agreement with the University of Florida, advancing its program to phase two.
Greenland Minerals (ASX:GGG) - Former Managing Director, John Mair

" Greenland Minerals (ASX:GGG) appoints new managing director following uranium ban

Greenland Minerals (GGG) has appointed a new managing director, Daniel Mamadou, following Greenland’s recent ban on uranium.

" Kuniko (ASX:KNI) identifies new drill targets following assays

Kuniko (KNI) has announced its first geochemical soil sample assays from the Skuterud cobalt project in Norway have provided encouraging results.