{
  "id": 237586,
  "title": "Inferred tonnes drive rare earth growth in Avalon update",
  "url": "https://urgent.news/2026/08/06/inferred-tonnes-drive-rare-earth-growth-in-avalon-update",
  "topic": "ai",
  "section": "AI",
  "published": "2026-08-06T21:30:00.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/inferred-tonnes-drive-rare-earth-growth-in-avalon-update/"
  },
  "original_language": "en",
  "account": "An updated resource estimate for Avalon Advanced Materials' Nechalacho rare earths project in the Northwest Territories has increased the global contained resource by 42%. The new figure stands at 875,000 tonnes of contained TREO, double the previously reported 130.6 million tonnes. However, Nechalacho's resource now uses a higher net metal return cut-off of $366.40 per tonne, 14% more than in the 2013 feasibility study. Avalon CEO Scott Monteith highlights the project's broad range of commercially important rare earth elements, making it an attractive option for governments and industry seeking secure Western supply chains for critical minerals. The mine could potentially produce 9,300 tonnes of TREO annually over 20 years, with a post-tax net present value of $1.3 billion and an after-tax internal rate of return of 20%. Avalon shares fell 2% on Thursday, bringing the company's valuation to approximately $22.8 million.",
  "summary": "Avalon Advanced Materials has updated its resource estimate for its Nechalacho rare earths project in the Northwest Territories, raising the global contained resource by 42%. The updated estimate now shows 58.6 million measured and indicated tonnes grading 1.49% total rare earth oxides (TREO), equivalent to 875,000 tonnes of contained TREO. The update highlights a significant increase in inferred resources, which more than doubled to 130.6 million tonnes at 1.31% TREO for 1.7 million contained tonnes. The higher economic threshold used in the update, at $366.40 per tonne, is 14% higher than the cut-off used in the 2013 report and may exclude lower-value material at the project. Avalon CEO Scott Monteith highlighted the project's potential to provide exposure to a broad range of rare earth elements, including the four principal magnet rare earths and several others, as governments and industry focus on securing Western supply chains for critical minerals.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}