After we've monetised the pre-strip material as a fertiliser product, the main product from Cummins Range is a poetic, unique dual-mineral concentrate that contains both LFP-suitable phosphate and EV magnet-suitable rare earths. The phosphate within apatite and the rare earths within monazite means we can maximise the extraction of both of these highly strategic elements. We believe this is a unique product offering, with the opportunity to supply 12ktpa of rare earth oxides and 169ktpa of battery-grade phosphate to an automotive manufacturer for at least 15 years as described in our scoping study. With 25kg of P2O5 and 1kg of NdPr oxide required for each LFP-powered electric vehicle, and with consideration for process losses down the value chain, Cummins Range has the potential to supply over 2.5 million EVs every year over its initial 15–year mine life.

And all this can be achieved in a simple low-risk, low-cost way, particularly because we can monetise the pre-strip.