Serra Verde is a large, long-life deposit containing an elevated proportion of high value heavy and light REEs, primarily neodymium (Nd), praseodymium (Pr), terbium (Tb) and dysprosium (Dy) that are key to the energy transition.
We have entered commercial production from Phase I of our Pela Ema mine and processing plant, having received our final operating license in 2023. Phase I of the Pela Ema deposit is expected to produce at least 5,000 tonnes per year of rare earth oxide over a 25-year mine life. Serra Verde has offtakes in place for its nameplate production capacity with established processing companies. There is also potential to increase Phase I capacity through plant optimization and we are examining the potential for a Phase II expansion of the Pela Ema deposit.
The operation is located in an established mining area with access to a skilled workforce and close to existing transport, renewable power, water and other infrastructure.
Serra Verde is an ionic-clay REE deposit, one of relatively few such deposits found outside of Asia. Ionic clays can be mined with low-cost open mining techniques and processed using simple technologies with no hazardous chemicals, crushing, milling, or acid leaching. As a result, our environmental impacts are lower than at other rare earth operations.
Furthermore, the operation is located close to significant hydropower installations, providing the potential for access to reliable and clean energy.