Once approved by the Federal Permitting Improvement Steering Council (FPISC), Texas Mineral Resources’ Round Top Project will be fast-tracked into construction. The Round Top Project has been classified as “high priority to the nation” and will be granted preference in the licensing process under Executive Order 13766.
The heap-leachable Round Top Project, which has a low CapEx and OpEx, contains a high percentage of REOs strategically critical to the U.S. defense, clean energy, aerospace, supercomputing, and transportation sectors.
An updated and expanded PEA will be released in July. Meanwhile, here are highlights from the 2013 PEA:
- Mine Life: 20 years, based on mining only 18% of the existing Measured, Indicated and Inferred Mineral Resource Estimate. Realistic mine life in excess of 100 years.
- Net Present Value (NPV): $1.47 billion at a pre-tax 10% discount rate, based on 20-year mine life
- Internal Rate of Return (IRR): 69%
- Payback Period: 1.5 years
- Capital Cost: $292.7 million, including a complete on-site rare earth oxide (REO) separation plant, and a contingency provision in the amount of $58.5 million. Among the lowest capital outlays in the world rare earth mining sector
- Mining Rate: 20,000 tonnes per day (TPD)
- Approximate Weighted Average Total Rare Earth Recoveries: 71.5%
- Production of REOs at site: Deployment of proven technology to generate high purity individual rare earth oxides at the site
- REO Production: Averaging 3,325 tonnes per year (“TPY”) total, including approximately 2,569 TPY of HREE+ Y. Full production includes 198 TPY of dysprosium oxide and 1,645 TPY of yttrium oxide
- Heap Leach Processing Technology: Proven conventional technology utilizing leach pads built to Texas Environmental Standards
- Direct Employment: Approximately 325 employees
- Ease of Shipping Access: Only 3 miles north of Interstate Highway 10 and within 3 miles of a major railroad. El Paso airport is 85 miles northwest
- Near Term, High Value Production: Relatively high percentage (70%) of REOs strategically critical to the U.S. defense, clean energy, aerospace, supercomputing and transportation sectors: including dysprosium (Dy) and yttrium (Y)
- Located on State Property: 6.25% Net Smelter Royalty (“NSR”) owed to Texas General Land Office (“GLO”)