DY6 Secures Key Mining Lease for Rare Earths Project

DY6 Metals Limited (ASX: DY6) has achieved a significant milestone with the grant of Mining Lease ML2023/11, covering 4.89 km² within the Machinga Rare Earths Project in southern Malawi. The lease, awarded for a term of 25 years, grants the company full rights to develop and operate its rare earths and niobium assets. This approval follows positive engagement with Malawi’s Ministry of Mining and underscores the government’s support for advancing strategic mineral projects. With the mining lease in place, DY6 can progress from exploration to development, including detailed feasibility studies, infrastructure planning, and project financing. The Machinga Project is particularly prospective for heavy rare earths such as dysprosium and terbium, which are critical for permanent magnets used in clean energy and advanced technologies. The milestone strengthens DY6’s position as an emerging player in the rare earths sector and marks a significant step toward commercial production.

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