Had a look at Eurozhartleys research paper.
Stage 1 Capex $30m
Stage 2 Capex $200m
Stage 3 Capex $200m
Not sure where you get $1B....lol
The Kangankunde deposit is a low cost Capex and opex project, due to it being non Radioactive, requiring no chemicals for recovery process and no harmful waste disposal. Plus it will use hydro electric power.
Ann: Kangankunde - Highest Grade Rare Earths Assays to Date, page-104
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