{"id":1051,"date":"2023-11-08T04:13:05","date_gmt":"2023-11-08T04:13:05","guid":{"rendered":"https:\/\/economicherald.net\/?p=1051"},"modified":"2023-11-08T04:13:05","modified_gmt":"2023-11-08T04:13:05","slug":"rarex-locks-in-bulk-loading-facility-at-wyndham-for-600000tpa-of-cummins-range-rees","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1051","title":{"rendered":"RareX locks in bulk loading facility at Wyndham for 600,000tpa of Cummins Range REEs"},"content":{"rendered":"<p>RareX signs infrastructure terms sheet with KMG Logistics for use of bulk loading facility at Wyndham Port<br \/>\nAgreement grants at least 600,000tpa of capacity, de-risking key component of bulk handling supply chain for Cummins Range<br \/>\nCompany has binding first right of refusal in the event of any proposed asset sale by KMG<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> RareX has signed a binding terms sheet regarding the use of KMG Logistics\u2019 bulk loading facility at Wyndham Port for product shipments, a key step forward for development of its Cummins Range phosphate-REE project.<\/strong><\/p>\n<p>Cummins Range is the largest undeveloped rare earths (REE) project in Australia with an indicated and inferred resource of 519Mt at 0.31% total rare earth oxides (TREO) and 4.6% P2O5 (phosphate) for a contained 24Mt of phosphate and 1.6Mt TREO.<\/p>\n<p>Development will be carried out in stages with <a href=\"https:\/\/stockhead.com.au\/company\/rarex-ree\/\"><strong>RareX (ASX:REE)<\/strong><\/a> looking to kick things off with low-cost direct shipping ore (DSO) phosphate production under the first stage.<\/p>\n<p>Capex to enable initial bulk mining of about 300,000tpa of apatite mineral rock phosphate is expected to be just $45m, which significantly de-risks that key first step.<\/p>\n<p>This stage will also support Stage 2, which transitions the project into a rare-earth critical mineral mine.<\/p>\n<p>The $304m capex Stage 2 beneficiation operation would produce 550,000tpa of higher value phosphate-rare earth mineral concentrate, containing about 169,000t of phosphate and 12,000t of TREO.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/exceeded-expectations-testwork-for-stage-2-production-increases-total-rare-earths-20-times-at-cummins-range-australias-largest-undeveloped-ree-project\/\"><strong>Recent beneficiation test work<\/strong><\/a> exceeded expectations after delivering a 20x upgrade of the TREO to the concentrate, providing strong support to the proposed Stage 2 plan.<\/p>\n<p>Stage 3 will see a $63m upgrade to the Stage 2 plant in year 13 to produce a concentrate from the un-weathered, fresh rock.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Infrastructure sharing deal de-risks project<\/strong><\/h2>\n<p>The terms sheet with KMG Logistics to share use of their existing bulk loading facility at Wyndham Port significantly de-risks a key component of the bulk handling supply chain for the Cummins Range project.<\/p>\n<p>Under the terms sheet, the company will have a binding exclusivity period expiring 30 June 2024 to negotiate a long form bulk loading facility agreement.<\/p>\n<p>This will grant it at least 600,000tpa of capacity at the facility for an initial five-year term.<\/p>\n<p>The bulk loading facility at Wyndham Port. Pic: Supplied (REE).<\/p>\n<p>It also grants REE a binding first right of refusal in the event of any proposed asset sale by KMG during this period.<\/p>\n<p>\u201cWe are delighted to be collaborating with KMG to deliver a shared infrastructure agreement for the existing bulk loading facility that is mutually beneficial and minimises the project footprint,\u201d chief executive officer James Durrant said.<\/p>\n<p>\u201cThis agreement is one of several that we are currently working on to stitch the full Cummins Range bulk supply chain together, with the aim of delivering a simple, low-cost route to get our rare earths and phosphate project to market.<\/p>\n<p>\u201cWe are very much looking forward to defining a final long-form agreement with KMG and working with them together to bolster the Kimberley region\u2019s mineral potential.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with RareX, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/rarex-locks-in-bulk-loading-facility-at-wyndham-for-600000tpa-of-cummins-range-rees\/\">RareX locks in bulk loading facility at Wyndham for 600,000tpa of Cummins Range REEs<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>RareX signs infrastructure terms sheet with KMG Logistics for use of bulk loading facility at Wyndham Port Agreement grants at least 600,000tpa of capacity, de-risking <a href=\"https:\/\/economicherald.net\/?p=1051\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1052,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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