October 30, 2024 — In a recent interview with Investor.News, Nick Holthouse, CEO of Meteoric Resources NL (ASX: MEI), provided key updates on the company’s flagship Caldeira Project in Brazil. Holthouse discussed the positive impact of the inclusion of high-grade rare earths from the Figueira deposit in the company’s updated scoping study. He noted that the extension of high-grade output beyond the initial five or six years has significantly improved the project’s financial outlook, stating, “We’re seeing that very high-grade early-year profile extended out beyond the five or six years that we initially had.” This extension is expected to have a substantial effect on operating costs and cash flow over the project’s life.
Holthouse also highlighted the company’s competitive advantage in rare earths production, pointing to the unique characteristics of their ionic clay deposits in Brazil. This positions the Caldeira Project as a low-cost producer with excellent logistics, making it an efficient and scalable operation. The project’s progress, including its rare earths extraction process and strong financial outlook, reflects Meteoric’s strategic focus on becoming a key player in the global rare earths supply chain.
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About Meteoric Resources NL
Meteoric Resources NL (ASX : MEI) is a Perth based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil and aims to become Brazil’s next rare earth producer. The Caldeira Project is a true Ionic adsorbed Clay (IAC) deposit with above industry TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with an anticipated low capital and operating costs. Meteoric aims to become a significant volume, low-cost producer and is committed to supporting and integrating into western supply chain opportunities.
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