The mineral title, called “MANIFESTO”, it’s not a REGULAR concession, but a permanent MINING RIGHT, linked with the land’s property, owned by MTR. No taxes per hectare to be paid, no royalty to the land owner.
The best infrastructure in a friendly mining region.
3,576,000 tons of ORE in the indicated category, GRADING 3.9% rare earths oxides, for ~139,000 contained tons of TREO (NI 43-101 Compliant, Roscoe & Postle Associates, Canada).
~20 Years life time of the mine, for 6,000 tons TREO / year.
High grade deposit. The average grade fits in the top ten grades among similar world projects. Grade is one of the most important cost sensitivities in mining, directly related to low CAPEX & OPEX.
Highest grades are over 20% TREO.
A very small mine: Run of Mine output is 153,000 t/year for a 6,000 t REO basket production.
MORRO DO FERRO vs IONIC CLAYS – Comparing 6,000 tpa mixed REO Basket projects
| Average grade (%) | Contained REO / Tonne ROM | ROM output (t/y) | LEACHING PLANT INPUT | |
|---|---|---|---|---|
| MORRO DO FERRO | 3.9 | 39 kg | 153,846 | 153,846 |
| IONIC CLAYS | 0.15 | 1.5 kg | 4,000,000 | 4,000,000 |
No overburden. The ore is outcropping.
IONIC CLAYS
• Five vertical diamond drill holes were executed outside the Resource Area to test the possible occurrence of ionic clays. These drill holes present mineralized intercepts with grades around 3.000 ppm TREO, with Dy+Tb high grades. The clay zone varies from 25m to 72m thickness. Leaching tests are still pending.
ENVIRONMENTAL LICENSE
• As usual in this type of mineralization, a discrete presence of thorium is observed in the ore. Nevertheless, the REO basket obtained in lab tests is 100% free of radionuclides. Also, the Brazilian Nuclear Commission certified the Morro do Ferro Project as “Category II (low emission radioactivity)”, amenable to obtain the environmental license through a simplified environmental report.