Nothing even close to Luni except Araxa which is larger, but not higher grade.
Araxa have or had around 450Mt of 2.5% Nb2O5 and something like 850Mt of 1.5% grade (including the higher grade component), then fall to the background fresh carbonatite levels of most others of 0.3-0.7% deeper in the intrusion.
I expect the MRE upgrade will have our high grade section to go up to around the same 2.5% that they mine at Araxa, with the quantity to also grow to hopefully 60-70Mt, which is enough for decades.
Given the expected rise in Niobium use for the remainder of the decade, being around 70,000 tonnes, and I expect this to increase as climate mandates make green steel a necessity everywhere, and metallurgical coal goes up in price (it's getting scarce as we used the easy stuff!!), then there is plenty of room in the market for us to start at around 25,000 tonnes of FeNb with initial plant with plans to expand a couple of years later.
WA1 Price at posting:
$14.29 Sentiment: Buy Disclosure: Held
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