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Industry Veteran Brings Extensive Operational Expertise to Brazilian Rare Earth Project
Goias State, Brazil — [17 May, 2016] — Mineração Serra Verde (MSV), an advanced development stage rare earth project in central Brazil, announced today the appointment of rare earth industry veteran Eric Noyrez to the Company’s Board of Directors.
“I am delighted to welcome Eric to our Board,” said Luciano de Freitas Borges, MSV’s Chief Executive Officer. “His experience will be vital to our effort to develop Serra Verde into a leading provider of high-value rare earths.”
Noyrez brings a specific focus on risk mitigation strategies, including key skills required to progress the project through its major milestones, to MSV. In addition, he will assist in outreach to significant market leaders and potential partners.
“In the past 10 years only one new project has entered production in the rare earths space. However, as these elements are so closely linked to the high tech applications we count on in our daily lives market demand for them is only going to grow,” said Noyrez. “More sustainable sources will be needed, and I see the Serra Verde project as a key means of meeting this requirement.”
Noyrez’s experience includes serving as the Chief Executive Officer of Lynas Corporation Limited from 2013 to 2014 as well as an Executive Director for the company until 2014. He also previously served as the President of Lynas from 2011 to 2013 and as its Chief Operating Officer from 2010 to 2013.
Prior to Lynas Noyrez spent nearly a decade with the Rhodia Group, a global specialty chemicals company, where he was President of Rhodia Silcea, and at Shell Group, where he managed chemical and industrial businesses. Noyrez, who began his career designing automobiles for the Peugeot/Citroen group, holds a Masters degree in Engineering and Mechanicals from France’s Ecole Nationale Superieure des Mines.
The Serra Verde Deposit Located in the State of Goias, an established mining region, Serra Verde hosts an
NI 43-101-compliant resource of 911 million tonnes @ 0.12 percent TREO (based on an exploration area representing approximately 15 percent of the overall Serra Verde deposit area), with high-value critical and heavy rare earths representing more than 60 percent of the resource.
Serra Verde’s ionic clay mineralogy is analogous to the mineralogy currently detained by market-dominating southern China producers, but with rare earth grades three times higher than the average of those deposits, and ore volume 10 times larger. The Serra Verde deposit also benefits from access to roads, water and power within 40 kilometers of the site, plus community support.
The region’s high-value rare earth mix is consistent with projected demand growth from next-generation applications ranging from clean energy and hybrid vehicles to high-performance consumer electronics, industrial and military applications.
About Serra Verde
Mineração Serra Verde is an advanced development stage rare earth project located near Brasilia, in the State of Goias, a mining friendly jurisdiction. The size of the resource and the project’s ionic clay geology and freely liberated mineralization is similar in geology to the well-known heavy rare earth Chinese deposits.
The weathered rock, saprolite ore allows for open pit, truck-and-shovel extraction — providing for cheaper, simpler processing and lower capex versus
peers. Further, a large portion of the deposit is comprised of heavy and critical rare earths, which have a higher value as compared to light rare earths, giving the project the potential to challenge China’s dominance of the heavy and critical rare earth market.
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