Tasmanian Rare Earth Mining Advances with New Exploration Success
A potential rare earth mining project in Tasmania is progressing following a successful exploration drilling campaign conducted south-east of Devonport. The 37-hole program targeted an area northwest of ABx Group's high-grade Deep Leads discovery near Westbury, indicating significant promise for rare earth elements in the region.
ABx Group, chaired by former Labor premier Paul Lennon, has been actively engaging with potential customers for a mixed rare earth carbonate product. The company noted the critical supply risks associated with dysprosium and terbium, as highlighted in its June quarter report. Rare earth elements are vital for numerous applications across various industries.
The company reported a 70% increase in the estimated mineral resources for the rare earth deposits located 45 kilometers west of Launceston, now totaling 89 million tonnes. Results from the recent drilling campaign are anticipated by mid-August, potentially paving the way for further development. Additionally, ABx Group is preparing to resume bauxite mining operations in Tasmania.
A planning permit for mining at the DL130 Bauxite Project, situated in the Meander Valley Council area, has undergone public consultation. Public submissions are currently under evaluation, with some improvements being made to the permit application. The DL130 site, located north of Exton, is expected to supply bauxite for cement and fertilizer production. ABx Group has secured formal agreements with all landholders involved.
Previously, ABx Group mined bauxite at Bald Hill near Campbell Town. The company also aims to produce aluminum fluoride, a critical mineral essential for aluminum production.
