Auxico Resources Canada Inc. announced the results of metallurgical testing conducted on rare earth concentrates from its Minastyc property in Colombia. The above feed material of concentrate samples from Minastyc Property was processed into light and heavy rare earth concentrates. The metallurgical testing was conducted by Coalia Lab in Thetford Mines, Qubec, using various acid leach processes enhanced by ultrasound and calcination at various stages of the process.

The results of the testing demonstrate the ability to produce commercial concentrates of light and heavy rare earths. Of the light rare earths, the result of neodymium at 46.9% depicts a concentration of 5 times compared to the initial ore, and praseodymium 7 times; the value of neodymium oxide at current market price is approximately USD 48,000 per tonne (The Institute for Rare Earths and Metals AG, as of April 19, 2023). For the heavy rare earths, dysprosium has been concentrated 20 times compared to the initial feed; the market price of dysprosium oxide is approximately USD280,000 per tonne, while the market price of terbium oxide is at USD 588,000 per tonne.

The light and heavy rare earth concent concentrates will be the object of further metallurgical testing in order to produce elemental rare earths using ligand chemistry. Initial results indicate the recovery of 99% of neodymium, praseodymium, samarium and gadolinium. The shift towards clean energy systems and a green economy is set to drive a substantial increase in demand to mineral markets.

The energy sector, specifically batteries, magnets and advanced technologies, is emerging as a major driving force to the energy transition, with critical minerals at the foundation.