Ausenco has been awarded the Definitive Feasibility Study (DFS) for Meteoric Resources NL's (Meteoric) Caldeira Project (Caldeira Project or Project) in Brazil, following the successful completion of a Pre-Feasibility Study (PFS), Scoping and Trade-Off Studies.
The Caldeira Project, a Tier 1 Ionic Clay Rare Earth Element (REE) project, is located in the Minas Gerais State of Brazil, approximately 270km north of São Paulo. The Project aims to be one of the lowest-cost rare earth producers globally and currently hosts the world’s largest and highest-grade ionic REE Mineral Resource.
Ausenco will now progress the next key milestone with the delivery of the DFS for the development of a 6 Mt/y rare earths processing plant and associated infrastructure. The scope includes study management, detailed engineering across all major disciplines, procurement and tendering support, and development of capital and operating cost estimates to AACE Class 3 accuracy. The DFS will also include a high-level operational readiness strategy to support a smooth transition into steady-state operations.
Meteoric Managing Director, Stuart Gale, said, “Completion of a Definitive Feasibility Study for the Caldeira Project marks another step in realising the full potential of the asset and we're pleased to continue partnering with a globally recognised leader in engineering and project delivery like Ausenco to achieve this. Ausenco brings deep technical expertise and an in-depth understanding of our project, having worked alongside us from the earliest stages and we look forward to continuing the journey with them."
The DFS will be led by Ausenco's highly experienced Perth-based team, supported by a global network of subject matter experts, including specialists from its Belo Horizonte office in Brazil.
Ausenco President APAC/Africa, Minerals & Metals, Reuben Joseph, said, "We're thrilled to continue our work with Meteoric Resources on the Caldeira Project, advancing from the Pre-Feasibility Study into the Definitive Feasibility Study. This milestone continues to strengthen our partnership with Meteoric and highlights our commitment to delivering high-quality, fit-for-purpose studies. We're excited to bring our technical expertise and collaborative approach that will help support the successful delivery of this world-class project."
Once complete, the DFS will position the Caldeira Project for construction in 2026, with first production targeted for 2028.
About Ausenco
Ausenco is a global engineering, consulting and project delivery firm built for the minerals and metals industry. With three decades of global experience, we work alongside clients to navigate complex challenges from first study to final closure—across every phase, on five continents. Deeply rooted in the minerals and metals industry, our people combine technical depth, hands-on expertise, and hard-earned insight to deliver practical, forward-thinking solutions that reduce risk and unlock value. (www.ausenco.com).
About Meteoric Resources
Meteoric Resources NL (ASX: MEI) is a Perth-based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil. The Caldeira Project is a true Ionic Adsorbed Clay (IAC) deposit with high TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with very low capital and operating costs. Meteoric is poised to become a significant volume, low-cost producer and is committed to supporting and integrating into western supply chain opportunities.
Media contact
Megan Clavelle, Vice President, Communications & Brand, Ausenco, megan.clavelle@ausenco.com