Vital Metals rare earths study backs 11-year Canadian output

Vital Metals

Vital Metals rare earths study supports a long-life Canadian project. The Vital Metals rare earths study outlines 11 years of concentrate output. This Vital Metals rare earths study centers on NdPr-rich material at Nechalacho.

Project scope and outputs

Vital Metals plans average output of 56,000 t/yr of concentrate. The grade is 26.4pc total rare earth oxides. The initial mine life is 11 years at Tardiff, near-surface. Contained volumes include 2,900t neodymium and 900t praseodymium. Dysprosium and terbium each remain under 100t. The deposit is light rare earth enriched to about 100 metres.

Capex, costs and strategy

Vital Metals estimates $291mn in upfront capital. Operating cost is $24 per dry tonne mined. The company will target higher recoveries and grades. It will also improve payability for key products. Vital Metals pivoted after its Canadian processing arm bankruptcy in 2023. Shenghe Resources owns 9.99pc after a 2023 share purchase.

The project seeks resilient supply for magnets and niobium. Therefore, it aligns with North American critical mineral priorities. Market demand for NdPr magnets underpins the development case.

The Metalnomist Commentary

The study’s economics hinge on recovery improvements and payability terms. Offtake structure and downstream partnerships will drive financing options. Watch for pilot results that validate the grade-recovery balance.