Brazilian Rare Earths (BRE) has delivered a scoping study defining a globally significant rare earth oxide development pathway at its Rocha da Rocha project in Brazil, less than three years after discovering the ultra-high-grade Monte Alto deposit.
The study confirms a low-cost, integrated hub-and-spoke operation forecast to deliver an after-tax net present value of US$7.9 billion (AU$11.9 billion) and an after-tax internal rate of return (IRR) of 89 per cent, with a rapid capital payback period of just 1.1 years.
Anchored by Monte Alto’s mineral resource grade of 11.3 per cent total rare earth oxides (TREO), more than double the grade of established Western producers, the project holds a major structural advantage across capital intensity and operating performance.
BRE expects to achieve a first-quartile position on the global cost curve at approximately US$21 per kilogram of neodymium-praseodymium (NdPr) equivalent.
Over its initial five years of run-rate production, Rocha da Rocha is projected to produce an annual average of 6,351 tonnes of separated NdPr oxide and 2,502 tonnes of heavy rare earth (HRE+) concentrate.
This includes significant forecast volumes of dysprosium, terbium, and yttrium, positioning BRE as a critical Western supplier for permanent magnets, electric vehicles, defence, and robotics.
The development model features dry, sensor-based ore sorting at the mine site, with upgraded high-grade feed transported to a centralized refinery hub at the Camaçari Petrochemical Complex.
Downstream execution is bolstered by a technical partnership with specialist firm Carester, alongside a binding 10-year European offtake agreement for heavy rare earth concentrates.
Base economics exclude potential co-product revenue from an estimated 362 tonnes per annum of uranium, as well as scandium, niobium, and tantalum, offering further upside.
BRE Managing Director Bernardo da Veiga said the milestone establishes a resilient, low-cost platform.
“Monte Alto is not simply a high-grade rare earth deposit; it is the anchor of a broader critical minerals province with the potential to become one of the most important new sources of rare earth supply globally,” da Veiga said.
With the initial study demonstrating a 14-year mine life across Monte Alto and the nearby Sulista district, BRE is now advancing directly into a pre-feasibility study.
