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FYI Resources target MOPL advances Minhub Rare Earths-Zircon Project with IHC Mining

Published 16/08/2023, 10:54 am
© Reuters.  FYI Resources target MOPL advances Minhub Rare Earths-Zircon Project with IHC Mining
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FYI Resources Ltd (ASX:FYI, OTCQX:FYIRF) acquisition target Minhub Operations Pty Ltd (MOPL) has partnered with international engineering giant IHC Mining (IHCM) to spearhead initial test work and engineering studies for the proposed mineral processing plant (MSP) at the Minhub Rare Earths-Zircon Project in the Northern Territory.

MOPL has appointed IHC to manage MInhub project studies and undertake metallurgical test work, process flowsheet design and detailed engineering.

The test work and studies will initially consider the processing of three third-party mineral sands feedstocks (monazite and xenotime) which contain significant rare earths.

Looking ahead, the initial test work and engineering studies will lead into a full feasibility study which is on track for completion in March 2024 and, subject to a positive outcome, will be followed by Front End Engineering and Design (FEED).

“High calibre” partner

FYI managing director Roland Hill said: “Having a high calibre international engineering firm such as IHCM commence the initial Minhub project studies on behalf of FYI/MOPL and project partner Arafura Rare Earths Ltd provides the project with significant development benefits resulting from IHCM’s extensive operational experience, metallurgical and engineering capabilities and track record of successful projects.

“We look forward to working closely with IHCM on our unique downstream rare earths production project.”

Forward plan

Subject to a positive feasibility study and satisfactory completion of FEED, IHCM will be the preferred contractor for the delivery of the mineral separation plant at the Minhub Project.

The full feasibility study is scheduled to kick off in September 2023 and be completed in March 2024.

FYI/MOPL is co-developing the Minhub processing facility in Darwin, NT, with Arafura Rare Earths.

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