Northern Minerals has expanded the Browns Range mining lease area from 4,923 hectares to 10,458 hectares, providing greater flexibility for future development planning and project execution. The company also secured a Section 45C amendment to Ministerial Statement 986, expanding the approved development envelope and supporting an alternative access route towards the Northern Territory border.
Material actions and disclosures
The company recorded no Lost Time Injuries during the year, maintaining a Total Recordable Injury Frequency Rate (TRIFR) of 0.00 for most of the reporting period. The company continued its safety activities through workforce training, workplace inspections, hazard reporting, risk-management awareness and leadership engagement.
Environmental management activities included fauna monitoring, pre-clearance surveys, biological assessments, Mining Rehabilitation Fund reporting and implementation of an updated Conservation Significant Fauna Management Plan. The company also continued environmental monitoring, closure planning and investigations to support regulatory compliance and inform future project development.
Forward commitments
The company aims to progress its project funding strategy through engagement with Australian and United States government financing agencies and other potential funding sources. Following the Critical Minerals and Rare Earths Framework Agreement between Australia and the United States, Export Finance Australia (EFA) and the Export-Import Bank of the United States (US EXIM) issued coordinated, conditional and non-binding expressions of support for potential debt financing of Browns Range.
US EXIM indicated that it could consider financing of up to US$230M in cooperation with EFA under the EXIM-EFA Single Point of Entry arrangement. The EFA Letter of Support and US EXIM Letter of Interest are conditional and non-binding. Any potential financing remains subject to further due diligence, including technical, environmental, social, financial, credit, risk and legal assessments, as well as the respective agencies’ approval processes and agreement of acceptable terms.
As at the date of this report, no legally binding funding commitment or approval had been obtained.
Source: Northern Minerals Limited, 2026 Annual Report