Northern Minerals (NTU) Diggers and Dealers Mining Presentation summary

Transition to net zero and rare earths demand

• Global emissions targets drive demand for rare earths, with major economies aiming for net zero by 2050 or 2060 and high renewable energy shares by 2030.

• Rare earths are essential for clean energy solutions, including electric vehicles and wind turbines.

Value proposition and project overview

• Browns Range is a high-grade heavy rare earths project, targeting production of ~25% TREO concentrate rich in dysprosium and terbium.

• Recent drilling at the Wolverine deposit confirms significant high-grade mineralisation open at depth.

• Strategic partnership with Iluka Resources for long-term supply and onshore processing.

• Over 5,600 km² of highly prospective landholding in WA and NT.

Supply chain and market positioning

• China dominates the rare earth value chain, but new supply chains are being established in Australia through partnerships.

• Browns Range and Iluka aim to supply critical feedstock for downstream processing of Dy and Tb in Australia.