Iluka Resources has given the go-ahead for the $A1-1.2B development of a rare earths refinery at its Eneabba operation 280km N of Perth in Western Australia.
It plans to start construction in the second half of 2022, targeting first production of high-value rare earth oxides neodymium, praseodymium, dysprosium and terbium in 2025.
Iluka says its feasibility study demonstrated solid economics and significant potential for growth. The development will be part-funded by a $1.05B non-recourse loan from Export Finance Australia.
GO-AHEAD FOR GLOBALLY SIGNIFICANT CRITICAL MINERALS REFINERY - |