Meteoric Resources disclosed outcomes from its scoping study of the Caldeira Rare Earth Ionic Clay Project in Minas Gerais, Brazil.

The project showcases a projected 20-year mine life, with an average operating cash cost of US$7 ($10.39)/kg TREO over its lifecycle.

The initial five years are expected to see a more favourable US$5.50 ($8.16)/kg TREO average, thanks to high REO grades and efficient AMSUL processing.

Meteoric has set a target throughput of 5Mtpa commencing in 2027, backed by a US$297 million ($440.7 million) initial capital investment.

The company plans to commence a pre-feasibility study, scheduled for completion in December.