January 24, 2024

Frontier Rare Earths Joins the Rare Earth Industry Association

BRUSSELS, Belgium – January 24, 2024 – The Rare Earth Industry Association (“REIA” or the “Association”) is pleased to report that Frontier Rare Earths Limited (“Frontier” or the “Company”) has become a member of the Association.

Frontier is developing the Zandkopsdrift rare-earths and battery-grade manganese-sulphate project in South Africa. Zandkopsdrift is fully permitted, and first production is targeted for 2028, with the mine expected to become one of the world’s largest and lowest cost new sources of rare earths and battery-grade manganese sulphate.

James Kenny, CEO of Frontier commented, “Frontier is pleased to be joining REIA and intends to actively support its efforts to promote the global rare-earth industry along the entire value chain, from mine to consumer.”

Dr. Badrinath Veluri, President of REIA, commented, “We are very pleased to welcome Frontier as the newest member of our organisation. The company’s developments in South Africa will be of interest to our existing members. We look forward to working with them and to building a strong relationship”.

About Frontier Rare Earths

Frontier is a private company headquartered in Luxembourg. Frontier’s principal asset is the Zandkopsdrift project in South Africa, which will produce magnet rare earths and battery-grade high-purity manganese sulphate monohydrate (“HPMSM”) – two of the critical raw materials required to support the energy transition. Frontier expects Zandkopsdrift to be one of the lowest cost producers of magnet rare earths and HPMSM outside China. Proven and probable mineral reserves at Zandkopsdrift will support production of 17ktpa of rare earths, including 4ktpa of magnet rare earths, and 100ktpa of battery grade HPMSM over a 45-year mine life.

The South Korean Government has a c.10% direct interest in Zandkopsdrift acquired for a $24 million cash consideration. Frontier was listed on the Toronto Stock Exchange between 2010 and 2015 but is now controlled by management and related parties based in the EU. Frontier is also developing the Nipacue flake graphite project in Mozambique, which is expected to be one of the lowest cost producers of graphite outside China, with target production of 140ktpa of graphite concentrate. Learn more at www.frontierrareearths.com.

About the Rare Earth Industry Association (REIA)

The Rare Earth Industry Association is a global, Belgium-based not-for-profit organisation founded in 2019. REIA’s mission is to serve, promote and advance the sustainable development of the global rare-earth-element (“REE”) value chain. The Association’s more than 80 members are drawn from across the entire REE value chain, including public and private companies, research and academic institutions, government entities, policymakers, and other stakeholders. REIA is currently developing a framework and guidelines to help standardise ESG reporting accepted by upstream, midstream, and downstream participants. The Association provides its members with a platform for networking and benchmarking; for making their voice heard by policymakers, regulators, and other key stakeholders; for finding potential partners and collaborators; for accessing and sharing data, information, and best practices; and gaining visibility and highlighting their engagement towards a more sustainable supply chain.

Contact

Dr. Nabeel Mancheri
Secretary General
Rare Earth Industry Association
+32.466.24.61.31
nabeel.mancheri@global-reia.org
www.global-reia.org