You may never have heard of Dysprosium, but you will soon, with one ASX stock set to build the first mine outside of China.
Dysprosium is one of the ‘heavy’ rare earths, which fetch much higher prices on the global market than light rare earths.
Dysprosium’s bullish demand predictions over the coming years are based on its use in high performance magnets – by adding this element to magnets, its helps them operate more efficiently at higher temperatures – and that is exactly what lithum ion battery powered devices need…
This ASX listed company already has an MoU for an offtake agreement in place, $30M funding secured from a cornerstone investor and its JORC’d and DFS’d flagship project is rated as ‘best-in-class’ on quantity and grade.
Some estimates suggest this project’s mine life could reach beyond 100 years…
The company’s project will be the first mine in Australia to focus on the production of Dysprosium and since 2012, this company has increased its JORC compliant mineral resource fivefold.
This $70 million capped company has a three-stage development plan in the works, including a Bankable Feasibility Study (BFS) due very shortly.
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Think solar, sustainable energy, batteries, magnets, lasers and electric cars and you get a sense of the impact this company’s resource can have.
And with government support in tow, a $30 million funding agreement in place and sales channels already earmarked, this company is aiming to become the first major producer of dysprosium outside of China.