Vital Metals’s Nechalacho rare earths project in the Northwest Territories. Credit: Vital Metals
An initial economic study for Vital Metals’ (ASX: VML) Tardiff project in the Northwest Territories outlines output that would make it one of the largest rare earth concentrate producers outside China.
Tardiff, part of Vital’s larger Nechalacho project about 110 km northeast of Yellowknife, would produce 56,000 tonnes of concentrate annually, grading 26.4% total rare earth oxides (TREO) and 3.3% niobium pentoxide, the company said Monday.
Vital shares gained 5% to A$0.11 apiece on Monday in Sydney, for a market capitalization of A$12.38 million.
The proposed open pit mine with an initial capital cost of $291 million would have a post-tax net present value of $445 million, an internal rate of return of nearly 26% and an 11-year life.
“[The study] is a first step towards Vital playing a key role in…
