Northern Minerals' (ASX: NTU) Browns Range project is set to become one of the first significant rare earths developments outside China

Northern Minerals' (ASX: NTU) Browns Range project is set to become one of the first significant rare earths developments outside China. The company has released the much-anticipated Browns Range DFS, showing that overall project economics have improved from the PFS, with the project expected to produce an annual operating free cash flow of $176 million post-tax and royalties. The Net Present Value (NPV) has increased by $106 million to $552 million, with the Internal Rate of Return (IRR) of 34% and payback period of 3.2 years also improving. The project is set to be the world's first significant source of dysprosium outside of China. The DFS has confirmed the project to be economically and technically viable, and with primary approvals in place and a significant funding partnership with Jien Mining, the project is set to be the world's first significant source of dysprosium outside of China.