Located 25 kilometres south of Dubbo the $1 billion Dubbo Zirconia Project (DZP) will create 450 jobs and have a 70-year lifespan.
The NSW Department of Planning is currently assessing the mine’s Environmental Impact Statement as is expected to make a decision later this year.
Alkane managing director Ian Chalmers said the project has the potential to be a strategic and alternate source of zirconium and heavy rare earth products capable of long term supply.
The company has been developing the finished product at its Demonstration Pilot Plant at ANSTO.
It said several strategic partnerships have been established and product development work is continuing to ensure maximum return for the project’s output.
While the company has signed two memoranda of understanding and one letter agreement to advance development of markets for Dubbo Project output.
Current weakness in the zircon-zirconium materials pricing is expected to dissipate over the next two years as demand for rare earths increases.
Alkane says the $25 million in revenue per year from its newly opened Tomingley gold mine will help to maintain the project development pipeline and assist with the development of the DZP.