en.Wedoany.com Reported - Mont Royal Resources Ltd (ASX: MRZ) announced on June 9, 2026, the results of an updated Preliminary Economic Assessment for its wholly-owned Ashram Rare Earth and Fluorspar Project in Canada. Located in the Nunavik region of Quebec, the project has a planned mine life of 30 years, with an after-tax internal rate of return of 22% (real), an after-tax payback period of 3.9 years, an after-tax net present value of C$2.07 billion (real), and initial capital expenditure estimated at C$1.25 billion (including 30% contingency).
Mont Royal Resources Ltd is an international critical minerals development company headquartered in Montreal, Quebec, Canada. Formed in October 2025 through a merger with Commerce Resources Corp., it is dual-listed on the Australian Securities Exchange and the TSX Venture Exchange in Canada. The Ashram Project, its flagship asset, is one of the largest undeveloped rare earth projects in North America. As of April 2024, its NI 43-101 compliant mineral resource estimate comprises: 73.2 million tonnes of indicated resources grading 1.89% total rare earth oxides and 6.6% fluorspar; and 131.1 million tonnes of inferred resources grading 1.91% total rare earth oxides and 4.0% fluorspar.
According to the project plan, a hydrometallurgical plant located in Quebec is designed to process approximately 69,500 tonnes of flotation concentrate annually, producing about 33,800 tonnes of mixed rare earth carbonate per year while effectively removing impurities such as thorium. The project is expected to yield approximately 17,500 tonnes of marketable rare earth oxides annually, including about 4,035 tonnes of neodymium-praseodymium oxide and about 100 tonnes of dysprosium-terbium oxide. The project is eligible for an estimated C$347 million in refundable Clean Technology Manufacturing Investment Tax Credits, with 93% of the resource scheduled for production classified as indicated resources.
In terms of beneficiation and metallurgy, previously completed locked-cycle tests utilized a simplified flotation process effectively targeting the rare earth minerals monazite and bastnaesite, producing concentrates with rare earth oxide grades between 35.8% and 36.8% and overall recoveries of 65% to 68%. The project's economic indicators are based on an updated Preliminary Economic Assessment restarted in late 2025 and led by Altris Engineering. The planned annual production of approximately 4,035 tonnes of neodymium-praseodymium oxide and about 100 tonnes of dysprosium-terbium oxide are key raw materials for clean energy equipment such as permanent magnet motors for electric vehicles and wind turbine generators.
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