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Donald Rare Earth and Mineral Sands Project, Phase 2 (RL2002), Vic

Astron Limited (ATR) | Revised Phase 2 Economic Study and RL2002 Ore Reserves Update | Released 9 Jun 2026

Mine life
52 years
Both phases combined
Strip ratio
1.8
Average, both phases combined
NPV
$1.5 billion
Pre-tax, NPV8, incremental expansion
Capex
$557 million
Incremental expansion, incl. contingency

Inferred share: Reserve-based, no Inferred

Figures are as the company states them, in its currency and on its basis. "Not disclosed" means the release doesn't state the figure.

Planning inputs

Reserve-based, no Inferred | Overall wall angle 20.0 degrees | No mining dilution applied, ore loss 6.0% | Contractor mining | Ore Reserve and mine planning by AMC Consultants

Also in the release

Dozer push strip mining to an in-pit MUP. Both phases: ROM ore throughput of 15.0Mtpa, average ore grade 4.6%, pre-tax NPV8 $2.3 billion, IRR 25.6%. RL2002 Ore Reserve 435Mt at 4.7% heavy mineral grade.

Read the release on the company's siteAdded to the tracker; released before the first issue of The Study Sheet.

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