Northern Minerals gets expanded mining lease for Browns Range project [Yahoo! Finance]
ILUKA RES LTD UNSP/ADR (ILKAY)
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Source: Yahoo! Finance
The development follows approval from native title parties and replaces the former lease, M80/627, which was voluntarily relinquished. The new lease significantly expands the mining area from 4,923 hectares (ha) to 10,458ha by converting existing exploration tenure into the granted lease. This lease, held entirely by Northern Minerals, is valid until 8 September 2046, with an option for an additional 21-year term. According to Northern Minerals, the Browns Range Project hosts heavy rare earths, particularly dysprosium and terbium. The heavy metals are crucial for manufacturing permanent magnets used in electric vehicles, wind turbines and defence applications. Northern Minerals aims to enhance the project's development as outlined in its definitive feasibility study (DFS), released on 15 September 2025. The company is advancing its exploration and project activities on the newly acquired lease. Its flagship deposit, Wolverine, is considered the highest-grade source of d
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