A rare peak for REEs

CEO TALK

A rare peak for REEs

ASX-listed Peak Resources discovered rare earth mineralisation at Ngualla, Tanzania, in 2010. Together with its partners, Peak is developing the site into a low-cost next-generation rare earth elements (REEs) project that is strongly aligned to the expanding, high-value, hightech magnet metal market. CEO Rocky Smith talks to Inside Mining.

What makes mining in Africa different compared to other continents?

Rocky Smith Africa is a beautiful continent with a rich bounty of natural resources. Therefore, mining in Africa will not only allow companies to extract high- grade minerals but – with the development of infrastructure and services – can help the local surroundings and employment levels to improve.

What would you say is the most challenging thing about operating in Africa?

The primary industry near this particular mine, Ngualla, is agriculture based, so the skills needed for the mining operation will have to be developed. The infrastructure/logistics in the project location will have to be created to support the construction and operation of the mine, given the distance from the port.

How is Peak Resources planning to overcome these challenges?

Operation readiness plans need to be developed to formulate hiring and training programmes to extend employment opportunities to as many locals as possible. The long-term plan is to find and develop the technical skills needed in Tanzania to optimise the operation of this facility.

What would you say is the biggest lesson Peak Resources has learnt operating in Africa?

Patience. Speaking only from experience in Tanzania, there are numerous levels of bureaucracy that need to be navigated when operating in the country. We have had unanimous support for our project throughout all levels of government, yet it takes time for permits to be granted.

How has Tanzania’s Ministry of Minerals dealt with Covid-19 and what impact has this had on operations?

The Ministry of Minerals in Tanzania has for the most part operated as normal. We have continued to hold meetings with the ministry, although most are now held online or over the phone. The main impact of Covid-19 on our company is that our executive management has not been able to fly to attend important face-to-face meetings that have been requested by the ministry. The free movement of labour would also assist us to access skilled and semi-skilled staff that can be difficult to find, particularly when commencing new operations.”

What does the near future hold for Peak Resources?

Peak aims to enter the production phase in the next few years, after securing the special mining licence in Tanzania. Thereafter, funding is to be secured and the building of two plants is to commence – these being a beneficiation plant in Tanzania and an REEs refinery in the UK.

Rocky Smith, CEO of Peak Resources