Bayport Minerals Processing Plant
At the end of the December 2023, 5,200 dry tons of concentrate containing 1,410 tons of REO had been bagged and ready for deliveries.
Since commissioning in June 2021, the Processing Plant has performed ahead of management’s expectations with Final Concentrate Grade of REO in line with internal targets. The Plant was temporarily shut down on 2nd August 2023 due to insufficient stocks of Ore residue and raw materials availability. During the shutdown, Phase 2 of construction and tie-ins, maintenance, system development and training having been constantly carried out. A number of short production trials were conducted during October and November to commission the equipment and process modifications made during the shutdown.
Fujairah Advanced Materials Extraction Plant (FAMEP)
Construction of the FAMEP in Fujairah, U.A.E officially began in April 2024.
Production Ramp-Up Progress
The plant is being progressively commissioned and is ramping up production capacity. Transcontinental Resources is set to commence production of Rare Earths products from the FAMEP by Fourth quarter 2024. We believe this timeframe puts us well ahead of our competitors. Our customers’ requirements and commitments are driving the business development strategy for products to be produced, growth of production and collaboration with partners in the value chain.
During the Second quarter of 2024, Transcontinental Resources announced the first arrival of Rare Earths concentrate at the Advanced Materials Extraction Plant (FAMEP). The commencement of operations at the FAMEP would represent a significant milestone in our progress to becoming a major supplier of Rare Earths Materials outside China. Transcontinental Resources is now able to provide real data showing that the FAMEP processes would be entirely safe for local communities and the environment.
On 7 of September 2024, the successful commissioning of the cracking and leaching units of the FAMEP were announced. This involves the cracking of the Spodumene through the kilns followed by the leaching circuit to produce a mixed Lithium compound. The process would be able to achieve recovery rates of more than 90% of contained lithium through the cracking units. The mixed Lithium compounds would be fed into the solvent extraction units for ultimate production of individual Lithium products.
Consistent with starting up a new greenfield plant, we identified a number of minor procurement and equipment-related matters during commissioning. These issues have not materially impacted the overall expected production ramp-up schedule and it is expected that initial Lithium products will be available by December. As a consequence of successful commissioning of the cracking and leaching process, we are now acquiring sufficient quantities of solids residues to start the production of synthetic gypsum and aggregate co-products. This will provide co-product samples for testing and market trials that are a necessary precursor for commercial off-take contracts.
