Meteoric Resources DFS Confirms Caldeira as Low-Cost Rare Earth Asset

Meteoric Resources (ASX:MEI) released a definitive feasibility study for its Caldeira rare earth ionic clay project in Brazil, saying the study confirms low capital intensity and operating costs. The DFS draws on more than 55,500 samples from 90,000 metres of drilling, three years of metallurgical bench and pilot testwork, and engineering studies completed by Ausenco.

CEO Stuart Gale said the study positions Caldeira as a long-life asset with abundant light and heavy magnetic rare earth elements essential to permanent magnet production. “The DFS confirms Caldeira as a low capital intensive, low operating cost, long life asset,” Gale said in a statement. He added that the project is designed to supply rare earth materials into global markets driven by electrification, renewable energy, advanced manufacturing and defence.