04 October 2023
04 October 2023
The decrease has been caused by weaker demand for electric vehicles.
Spread across 277.18 hectares, the project is said to have resulted in drill holes with gold at 2.50 grams per tonne (g/t) and silver at 1,115g/t.
The lithium projects that the duo plan to acquire cover 5,187 hectares of land and are located next to the Patriot Battery Metals project.
A mining contractor is expected to undertake all the mining activities using conventional open-cut mining.
The deal excludes tenements comprising the Kat Gap discovery, which are already held by Classic Minerals.
The BFS focuses on a cobalt refinery with the capacity to process cobalt in sulphate form.
The Shawa carbonatite complex in Zimbabwe contains rare earth elements such as niobium, strontium, titanium and zirconium, among others.
The permit will allow the companies to build project infrastructure in an area with surface and ground water resources.
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Within the rare earth metals market, cerium is projected to account for the largest volumetric share followed by lanthanum, neodymium, and others in 2023. The demand dynamics for neodymium is estimated to remain strong as the sale of electric vehicles continue to flourish across the globe. The product is deployed in the manufacturing of magnets including low and high performance and is an integral part of the modern-day technology assembly from automotive vehicles to fighter jets.
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