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VECKTA awarded contract for Lynas Rare Earths Mt Weld energy optimisation

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Global Mining Review,

On 4 May 2021, Lynas Rare Earths Ltd was awarded VECKTA the contract for distributed energy system (DES) modelling, sizing, and initial conceptual design for the Lynas Rare Earths Mt. Weld mining operation.

Lynas is the only producer at scale of separated rare earths outside of China and the second largest in the world. The rare earths deposit in Mt Weld, Western Australia, is acknowledged as one of the highest-grade rare earths mines in the world and is a globally significant project for Australia.

In 2019, Lynas Rare Earths became a signatory to the United Nations Global Compact (UNGC). As part of this commitment and the development of the Mt Weld strategic resource, Lynas is dedicated to exploring and developing best in class energy solutions.

VECKTA will empower Lynas to accurately assess the energy options for the Mt Weld project, and then optimise them using VECKTA market data and the world’s leading DES design toolkit, XENDEE. VECKTA can then match specific project needs with the best suited constructors and equipment suppliers in the VECKTA market platform, and facilitate the procurement and contracting for transparent, consistent and value adding win-win outcomes for all stakeholders.

“We are privileged to be working on a project with such a significant global impact as Mt Weld. The minerals resulting from this project will touch every part of our lives from electric vehicles to wind turbines and many applications in between. The ability to power Mt Weld in a way that is consistent with Lynas and Lynas’ customers drive for sustainable mining, is exciting. It’s one of the reasons we built VECKTA, and we are proud to be part of the transition,” said Gareth Evans, CEO VECKTA.

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Australian mining news