Avalon Advanced Materials has commissioned a new Preliminary Economic Assessment (PEA) for its Nechalacho Rare Earths and Zirconium Project in Canada’s Northwest Territories, updating the 2013 DFS.

The PEA incorporates advances in rare-earth processing, revised capital and operating costs, and current technical, commercial, and geopolitical considerations, including secure allied supply chains.

Wood Canada, a global engineering leader, has been engaged to complete the study and NI 43-101 report.

The PEA is expected within six months, after which Avalon plans to advance directly to a DFS, providing detailed engineering, cost validation, and support for project financing, offtake, and strategic partnerships.