As global demand for a green economy and key minerals increases, Tanzania faces new mining and investment opportunities, such as the Nguala rare earths project of (Peak Resources), an Australian exchange-listed rare earth mining company, according to MiningWeekly.
"the Nguala project is one of the largest and highest-grade undeveloped praseodymium-neodymium (NdPr) deposits in the world," said Badin Davis (Bardin Davis), manager of Peake Resources.
The goal of the project is to become one of the lowest-cost integrated rare earth production bases in the world.
"our goal is to develop the Nguala rare earth project to benefit generations of residents of the community and the people of Tanzania, while bringing huge returns to shareholders," Davis said.
The project, which includes mines and concentrators, is expected to produce 32000 tons of rare earth concentrate with an annual grade of 40 per cent.
The project already has reserves, which account for less than 10% of the total resources, the grade of rare earth oxides in the raw ore is 4.8%, the life of the mine is expected to be 26 years, and has the potential for further expansion.
"another point is that the surrounding rock of the Nguala orebody is weathered carbonate rock, and the grade of fluorocarbon cerite is very high, which is important because of its low acid consumption and low content of radioactive elements," Davis explained.
At present, the focus of Enguala rare earth mine is how to obtain special mining certificate. Due to regulatory changes, Tanzania's general election in 2020 and disputes between the government and companies, special mining license permits for the project have been delayed.
Despite some adverse factors, Davis has confidence in Tanzania's mining industry. He believes that in the past, the country's mining industry has focused too much on minerals such as gold, diamond and tantalum, but at present, there is great potential for the development of rare earth and battery minerals.
Praseodymium-neodymium oxide accounts for 85% of the output value of the global rare Demand is expected to be 70, 000 tonnes in 2021, with a market value of about $6 billion and is expected to rise to $12 billion by 2030, Davis said.
Praseodymium-neodymium oxide is used in the production of permanent magnets, electric vehicle motors and direct-drive wind turbines, and other applications are also very extensive.
The demand for green transformation of the global economy, the commitment of many countries to net zero carbon emissions and the arrival of the ban on fuel vehicles have promoted the popularity of electric vehicles. Sales of electric vehicles increased by 43% in 2020, providing a driving force for the development of the rare earth industry.
Countries around the world attach great importance to the rare earth industry, and US President Joe Biden has ordered an assessment of the supply of key raw materials, including rare earths. European Commission President von der Lane warned of the risks of rare earth supplies. The Australian Government recently released a roadmap for resources, technology and key resources.
Another reason for concern about the supply chain and key minerals is the risk of supply disruptions caused by the Covid-19 epidemic.
