Northern Minerals Advances $600M Rare Earth Project in Australia, Targets 8% Global Dysprosium and Terbium Demand

Published: Jul 13, 2026 09:58 (GMT+8)

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[SMM Rare Earth Flash] Northern Minerals is developing its A$600 million Browns Range heavy rare earth project in the East Kimberley region of Western Australia. The project is one of the few high-grade heavy rare earth deposits outside China, hosting mainly dysprosium and terbium. The company estimates that the project is expected to meet about 8% of global dysprosium and terbium demand once in production. Northern Minerals has secured up to $250 million (approximately A$350 million) in debt financing support from Export Finance Australia (EFA) and the Export-Import Bank of the United States (EXIM). The company aims to make a final investment decision by September 2026, with first concentrates expected to be produced by the end of 2028 or early 2029.

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