The Makuutu project has a geology similar to southern China's clay-type deposits, the cheapest and most accessible source of heavy REEs.

Move will result in the loss of about 1,000 jobs, though it will keep its refinery and smelters open in North Queensland.

Barrick was granted a special mining lease by the island country's Governor General, clearing the way for the 700,000 oz. per year operation to return to production.

Researchers emphasized that many mines set to close soon don't have plans for future operations or transitioning to a post-coal economy.

Mill construction began in August 2022 and commissioning began in September 2023.