We speak to Peak Resources ’ Managing Director Darren Townsend regarding the company ’ s development of the Ngualla Project in Tanzania
Since listing onto the Australian stock exchange back in 2006 , Peak Resources Ltd has come a long way . Whilst exploring for phosphate minerals in East Africa , the company discovered rare earth minerals , creating a significant buzz across the mining industry that led to the establishment of its flagship Ngualla Project . Managing Director Darren Townsend explains how the company has taken the project , located in southern Tanzania , from discovery , all the way through to the recent completion of a Bank Feasibility Study . “ We found that there were very high grades of the magnet metal rare earths , neodymium ( Nd ) and praseodymium ( Pr ), called NdPr . There are seventeen different rare earth elements , but NdPr are the most important ,” he says .
Quickly becoming one of the world ’ s largest undeveloped neodymium and praseodymium rare earth projects , the company has received its environmental permit for the project and is now moving ahead with the submission of the mining license application . With plans to export approximately 28,000 tonnes of rare earth concentrate throughout a 30-year mine life , the company will undertake the initial processing in Tanzania , through an on-site multistage processing plant . “ The high grade processed rare earth concentrate will then be shipped to the United Kingdom to a refinery that will use solvent extraction technologies to complete further processing ,” says Townsend .
He adds further , “ I don ’ t like to use the term ‘ world-class ’, but Ngualla simply is a world class deposit . It ’ s extremely high grade and our aim is to get this project up and into production , whilst looking at additional opportunities to grow the company and build out the business further within the rare earths
30 July 2017