Emerging critical mineral producer FYI Resources has announced that Minhub Operations Pty Ltd (MOPL) has appointed international engineering group, IHC Mining (IHCM) to undertake initial test work and engineering studies on a proposed Mineral Processing Plant (MSP) at the Minhub rare earths/zircon project in Darwin, Northern Territory.
MOPL was established to develop an independent collaborative mineral separation plant capable of processing emerging deposits with high rare earth content, with the aim of reducing the significant barriers to entry for these projects imposed by opaque markets, dominant industry players and hurdles to approvals. Darwin was selected due to its strategic location, experience in handling naturally occurring radioactive materials (NORM) and the proximity to Arafura’s Nolans Project which will offer a downstream processing site for the rare earth minerals.
These preliminary studies will advance the project development towards the full feasibility study. IHCM will apply its world-class minerals processing skills and experience to the project. FYI has a binding heads of agreement to acquire MOPL subject to the satisfaction or waiver of conditions set out in an announcement from May 9, 2023.
FYI Managing Director Roland Hill commented: “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.”
MOPL is co-developing and managing the Minhub rare earths downstream processing facility with ASX-listed Arafura Rare Earths Ltd. ARU has the option to acquire up to 50% of the Minhub project by contributing 50% of the project costs. MOPL is a privately owned company established specifically to develop, construct, and operate a mineral processing plant, where third-party mineral sands concentrate will be processed to separate rare earth-rich monazite and xenotime from other valuable mineral sands products such as zircon and ilmenite.
