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Outstanding New Drill Intercepts At Cummins Range: 455m at 0.5% TREO and 5% P2O5 & 326m at 0.4% TREO and 4% P2O5
Latest diamond holes further expand the rare earths and phosphate mineralisation at depth, demonstrating strong potential to expand the current 18.8Mt Resource
Further to its announcement of 20 September 2022, RareX Limited (RareX, the Company) (ASX: REE) advises that assays have been received for a further two diamond drill-holes, CDX0022 and CDX0027, at its 100%-owned Cummins Range Rare Earths and Phosphate Project in the Kimberley region of Western Australia (the Project, Cummins Range).
HIGHLIGHTS
- Assays for next two diamond holes set new records at the Cummins Range Rare Earths and Phosphate deposit:
- 455.6m at 0.5% TREO and 5% P2O5 returned in CDX0027, with multiple high-grade rare earths intersections above 0.5% TREO cumulatively 100.4m at 1.9% TREO including 17m at 2.4% TREO from CDX0027
- 326.4m at 0.4% TREO and 4% P2O5 returned in CDX0022 with multiple high-grade rare earths intersections above 0.5% TREO cumulatively 60.5m at 1.8% TREO including 6.2m at 4.2% TREO
- Results follow the previous record intercept of 384.4m at 4% P2O5 and 0.4% TREO in CDX0020, reported on 20 September
- Rare Dyke is strongly mineralised to 500m down-dip with a >450m wide rare earths and phosphate mineralised alteration halo
- Drilling continues at Cummins Range with over 15,000m completed
The latest results include: 455.6m at 5% P2O5 and 0.5% TREO and multiple high-grade rare earths intersections cumulatively 100.4m at 1.9% TREO including 17m at 2.4% TREO from CDX0027; and 326.4m at 4% P2O5 and 0.4% TREO with multiple high-grade rare earths intersections cumulatively 60.5m at 1.8% TREO including of 6.2m at 4.2% TREO from CDX0022.
These two drill holes have been drilled on the same drill section down-dip from the JORC 2012 Indicated and Inferred Mineral Resource Estimate (at a 0.5% TREO cut-off) of 18.8 million tonnes at 1.15% TREO and 10% P2O5, highlighting the strong potential to expand and upgrade the current MRE.
CDX0027 and CDX0022 are located 100m to the south-east of CDX0020, which intersected 384.4m at 4% P2O5 and 0.3% TREO (ASX: 20 September 2022).
RareX Managing Director, Jeremy Robinson, said: “Our 2022 drilling program is continuing to provide overwhelming evidence that Cummins Range is a world-class mineral system, hosting both rare earth oxides and top-quality rock phosphate. The potential to extract both valuable minerals was confirmed by the encouraging metallurgical testwork results we announced yesterday, which confirmed the potential to produce a high-quality phosphate concentrate.
“The latest drilling is now adding significant volume and scale to the deposit, with these latest intersections occurring well beyond the current Mineral Resource envelope. They will be incorporated in our next MRE update, which will in turn underpin a Pre-Feasibility Study to determine the optimum scale of this exciting and globally significant project.”
Click here for the full ASX Release
This article includes content from RareX, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rare Earths Reserves: Top 8 Countries (Updated 2024)
The outlook for rare earths is supported by strong supply and demand fundamentals as the world heads into a new economic era with a focus on clean energy and technological advancements.
But with supply chain worries rising, it’s worth looking at which countries have the highest rare earths reserves. Many of the world’s major rare earths producers have large reserves, but some countries have low rare earths output and high reserves.
Case in point — mines in Brazil produced only 80 metric tons (MT) of rare earth elements in 2023, but the nation’s reserves are tied for third highest in the world. It’s possible that countries like this could become bigger players in the space in the future.
One caveat is that reserves information is unavailable for a few rare earths producers, including Myanmar which took the third spot for rare earths production last year.
Here’s an overview of rare earths reserves by country, with a focus on the eight countries whose reserves are over 1 million MT. Data is taken from the US Geological Survey’s latest report on rare earths.
1. China
Reserves: 44 million MT
Unsurprisingly, China has the highest reserves of rare earth minerals at 44 million MT. The country was also the world’s leading rare earths producer in 2023 by a long shot, putting out 240,000 MT.
Despite its top position, China remains focused on ensuring that its rare earths reserves remain elevated. Back in 2012, the Asian nation declared that its reserves of these materials were declining; it then announced in 2016 that it would raise domestic reserves by establishing both commercial and national stockpiles.
The country has also been reigning in illicit rare earths mining for a number of years now, taking steps such as shutting illegal or environmentally non-compliant rare earths mines and limiting production and exports. The production limits have been easing though, and last year the country raised mining quotas by more than 8 percent over 2022 in its sixth consecutive increase.
China’s dominance in both rare earth elements production and reserves has caused problems in the past. Rare earths prices surged when the country cut exports in 2010, resulting in an ongoing rush to secure supply of the minerals elsewhere.
In recent years, China has begun importing more heavy rare earths from Myanmar, for which the US Geological Survey does not have rare earths reserves data. While China has stricter environmental regulations, the same cannot be said for Myanmar, and the mountains along its border with China have been heavily damaged by rare earths mining.
Rare earths prices soared to their highest level in 20 months, according to OilPrice.com, in early Q3 2023 coinciding with a temporary production halt in Myanmar, which accounted for 38 percent of China's rare earth materials imports in the first seven months of 2023.
2. Vietnam
Reserves: 22 million MT
Vietnam’s rare earths reserves stand at 22 million MT. It reportedly hosts several deposits with concentrations against its northwestern border with China and along its eastern coastline. The majority of rare earths in the country can be found in primary ore deposits, with a smaller amount located in coastal placer deposits. While this potential was previously untapped, that has now changed as the country looks to become an alternative to China.
Vietnam’s rare earths production was minuscule in 2022 at 1,200 MT, but it was even less in 2023 at 600 MT. Vietnam is the only country outside of China to have a vertically integrated rare earths magnet supply chain, according to Reuters, and it has attracted interest from companies in a variety of sectors. The country's goal is to produce 2.02 million MT of rare earths by 2030.
However, the arrests of six rare earths executives, including the chairman of Vietnam Rare Earth JSC (VTRE), in October 2023 may put a kink in those plans. "VTRE’s chairman, Luu Anh Tuan, was accused of forging value-added-tax receipts in trading rare earths," reported Asia Financial.
3. Brazil
Reserves: 21 million MT
Although Brazil has the third largest rare earths reserves globally, the latin nation was not a major producer of rare earths in 2023, with production flat at a tiny 80 MT on par with the previous year and even lower than its 2021 total of 500 MT.
However, that will soon be changing as rare earths company Serra Verde began commercial production from its Pela Ema rare earths deposit at the top of 2024. Pela Ema is an ionic clay deposit that will produce the four critical magnet rare earth elements: neodymium, praseodymium, terbium and dysprosium. According to the company, it is the only rare earths operation outside of China to produce all four of those magnet rare earths.
4. Russia
Reserves: 10 million MT
Russia produced 2,600 MT of rare earths in 2023, more than Brazil and Vietnam. The Russian government shared plans in 2020 to invest US$1.5 billion in order to compete with China in the rare earths market.
Russia’s invasion of Ukraine caused some concern over possible disruptions to the rare earths supply chain in the US and Europe, and there are signs the government has had to put its domestic rare earths sector development plans on ice while it's mired in war.
5. India
Reserves: 6.9 million MT
India’s rare earths reserves sit at 6.9 million MT, and it produced 2,900 MT of rare earths in 2023 on par with the previous year. India has nearly 35 percent of the world’s beach and sand mineral deposits, which are significant sources of rare earths. The country's Department of Atomic Energy released a statement in December 2022 breaking down the country's production and refining.
More recently, the Government of India is reportedly putting policies and legislation in place to establish and support rare earths research and development projects to take advantage of its reserve base.
6. Australia
Reserves: 5.7 million MT
While Australia was the fourth largest rare earths-mining country in 2023 at 18,000 MT of production, it has the sixth largest reserves in the world. Currently, its reserves stand at 5.7 million MT.
Rare earths have only been mined in Australia since 2007, but extraction is expected to increase moving forward. Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF) operates the Mount Weld mine and concentration plant in the country; it also runs a rare earths refining and processing facility in Malaysia. The company is considered the world’s largest non-Chinese rare earths supplier.
Hastings Technology Metals' (ASX:HAS,OTC Pink:HSRMF) Yangibana rare earths mine is shovel ready and the company recently signed an off-take agreement with Baotou Sky Rock for concentrates produced at the mine. Hastings expects the operations to produce up to 37,000 MT of rare earths concentrate annually and deliver first concentrate in Q2 2025.
7. United States
Reserves: 1.8 million MT
While the US reported the second highest output of rare earths in 2023 at 43,000 MT, the country takes the seventh top spot in terms of global rare earths reserves.
Rare earths mining in the US now happens only at California’s Mountain Pass mine. Over the past few years, the Biden Administration has made several moves toward strengthening the nation's rare earths industry.
In February 2021, President Joe Biden signed an executive order aimed at reviewing shortcomings in America’s domestic supply chains for rare earths, medical devices, computer chips and other critical resources. The next month, the US Department of Energy announced a US$30 million initiative to research and secure domestic supply chains for rare earths and battery metals such as cobalt and lithium. The government released a follow-up fact sheet about the progress made in these initiatives in February 2022. The US Department of Energy announced a US$32 million investment in new rare earths production facilities in July 2023.
8. Greenland
Reserves: 1.5 million MT
Although Greenland’s rare earths reserves number is close to that of the US, the island nation currently doesn't produce the metals. However, it does have two significant rare earths projects with large reserves, private company Tanbreez Mining's Tanbreez project and Energy Transition Minerals' (ASX:ETM,OTC Pink:GDLNF) Kvanefjeld project. The USGS only measures proven economic reserves, but in terms of total reserves for rare earths projects globally, they placed first and third respectively with 28.2 and 10.2 million metric tons of total rare earth oxides.
After signing an exploitation license with the government in 2020, Tanbreez is currently working on securing financing for its project's development; avenues being explored include discussions with independent oil and gas executives and the creation of critical metals NFTs backed by the project. The company has its sights set on 2024 for production.
While Energy Transition Minerals had previously signed a license for Kvanefjeld, it was revoked by Greenland's current government due to the company's plans to exploit uranium. The company submitted an amended plan that did not include uranium, but the updated version was rejected as well in September 2023.
FAQs for rare earths reserves
What are rare earth metals?
Rare earths are a basket of 17 naturally occurring elements comprised of 15 elements in the lanthanide series, plus yttrium and scandium. Other than scandium, all rare earths can be divided into “heavy” and “light” categories based on their atomic weight. Heavy rare earths are generally more sought after, but light rare earth elements can of course be important too.
Is lithium a rare earth metal?
Lithium is not a rare earth metal. It is an alkali metal in the same group as sodium, potassium, rubidium and cesium.
What is the global total for rare earths reserves?
Global rare earths reserves amount to 130 million MT. With demand for rare earth minerals ramping up as hype about electric vehicles and other high-tech products continues, it will be interesting to see how the top producers contribute to future supply.
What is the annual production of rare earths?
According to the US Geological Survey, global rare earths production in 2023 came in at 350,000 MT, up from 300,000 MT the previous year. The production of rare earths has ramped up aggressively in recent years — only a decade ago, global production was just above 100,000 MT, and it first broke 200,000 MT in 2019.
Who is the largest producer of rare earth metals in the world?
China has consistently been the largest producer of rare earths, and its 2023 production made up 240,000 MT of the world's 350,000 MT. In terms of specific rare earths mines, the top producer is the Bayan Obo mine in Inner Mongolia, an autonomous region in Northern China. The mine is owned by the state-owned Baotou Iron and Steel Group.
Are there rare earth minerals in Europe?
There are currently no rare earths mines in Europe, but there are multiple countries with reserves, including one with a significant new discovery. In early 2023, Swedish state-owned company LKAB announced it had identified the continent's largest rare earths deposit, the Per Geijer deposit, with rare earths resources of over 1 million MT of oxides.
With the European Union focusing heavily on building its own supply chain with the European Critical Raw Materials Act, the Per Geijer deposit could develop into an important source of rare earths for the region.
Several other countries in Europe hold significant rare earths reserves as well. Greenland hosts many deposits totaling 1.5 million MT of rare earths reserves along its coastline, with the majority located in the southwest of the country. The Gardar igneous province in the south hosts the largest ones.
Countries in the Fennoscandian Shield — such as Norway, Finland and, of course, Sweden — also host rare earth deposits, as the region has similar mineralization to Greenland.
What are the most technologically useful rare earth metals?
Rare earth metals play a significant role in various technologies. They are often used in electronics such as laptops and smartphones. Rare earth oxides such as neodymium and praseodymium are used in magnets, aircraft engines and green technologies, including wind turbines and electric vehicles. Samarium and dysprosium are also used in rare earth magnets. Phosphor rare earths such as europium, terbium and yttrium are used in lighting, as are cerium, lanthanum and gadolinium.
How are rare earths mined?
Rare earth elements are either mined from open pits, like many other metals and minerals, or they are mined through in-situ leaching. The metals are found in hard-rock deposits, ionic clay deposits and mineral sands. Some minerals that are mined for rare earths are bastnäsite, monazite, loparite and xenotime.
The open-pit mining process for rare earths is similar to that of other minerals: hard rock is mined, ore is separated from tailings and then it is refined. In in-situ leaching, which is also a common method of mining uranium, miners pump a chemical solution into an orebody. The solution dissolves the targeted materials into a brine that is then pumped back out of the ore and into collection pools. Rare earths mining also has a final step, which is the separation of the different rare earths from each other.
Why is it difficult to mine rare earth metals?
Although rare earths aren't as rare as you might assume from the name, finding economic deposits is very difficult. This is even more so the case for the heavy rare earths, as orebodies containing them are less abundant versus light rare earths.
Another road bump for rare earths is the separation process. Because the rare earth elements all have similar chemical behavior to each other, they are very tough to separate, making the process difficult and expensive. The most common separation method is solvent extraction, but it is lengthy and can take hundreds to thousands of cycles to achieve high purity levels, according to the Science History Institute.
Lastly, the environmental risks associated with rare earths mining mean even more care needs to be taken to minimize damage to the environment and to the people near the mine.
Is rare earths mining bad for the environment?
Rare earths mining can be very damaging to local environments, especially when it comes to illegal and unregulated mines. A major issue with mining rare earths is that the ore they are extracted from also often contains thorium and uranium, which are both radioactive. This means the separation of rare earths from this ore must be handled carefully, as the waste produced will be radioactive as well.
Unfortunately, it is common for this radioactive waste to make its way into groundwater and streams, which is incredibly damaging to the environment and to nearby communities that rely on this water. This can be seen in the mountains of Southern China and Northern Myanmar, both of which have been heavily exploited for their rare earths.
A report from Global Witness that investigates the effects of rare earths mining in these regions shows that mining in Myanmar has escalated in recent years after China began closing its own mines and outsourcing to the neighboring country. As of mid-2022, 2,700 illegal collection pools from in-situ leaching in the mountains had been identified, and they covered an area the size of Singapore. Those who lived in the region reported difficulty accessing safe drinking water and said local wildlife and fish were dying out.
Additionally, the in-situ leaching process can damage the rocks that are being extracted. Global Witness found that over 100 landslides have already taken place in China's Ganzhou region as a result of this extraction, and the damage to Myanmar's mountains is substantial as well.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Ionicre Raises $5.5 Million in a Placement
The Board of Ionic Rare Earths Limited (ASX: IXR) (“IonicRE” or “the Company”) announces it has received firm commitments to raise $5.5 million (before costs) by way of a share placement of approximately 423 million shares at $0.013 per share (“Placement”). The Placement was strongly supported by both key existing shareholders.
- IonicRE has received firm commitments to raise $5.5 million (before costs) in a Placement;
- Placement includes participation of $0.5 million from IonicRE Executive Chairman Mr Brett Lynch, further to his recent $1.5 million investment on joining the Company in January 2024;
- Funds raised will support:
- Advancing Ionic Technologies’ magnet recycling technology and enhancements to its Magnet Recycling Demonstration Plant, currently producing separated magnet rare earth oxides (REOs) in Belfast, UK, along with the completion of a Feasibility Study for a full-scale plant, expected mid 2024; and
- Advancing offtake and financing discussions presently underway at the Makuutu Ionic Adsorption Rare Earths Project, where the demonstration plant at site is producing mixed rare earth carbonate (MREC) which will be evaluated by several parties to advance offtake negotiations.
Managing Director Tim Harrison commented,“We have received such a significant amount of interest from various magnet manufacturers, alloy makers and OEM’s who are interested in utilising our world-class magnet rare-earth recycling technology for access to secure, sustainable, and traceable rare earth supply. Demand at our operational demonstration plant in Belfast is now full for the next 18 months with potential partner trials advancing to plan.”
“Further, our upstream project, the Makuutu Rare Earth Project, is also advancing well with several offtake negotiations with partners who will be evaluating our MREC being produced at the Makuutu demonstration plant. We are on the verge of a tangible increase in shareholder value. We greatly appreciate the support of existing shareholders with funding this placement.”
Placement Details
The Company has received binding commitments from existing sophisticated investors to raise $5.5 million (before costs) through the issue of 423,076,923 fully paid ordinary shares (“Shares”) at an issue price of $0.013 per Share (“Placement”). Participants will receive 3 free attaching unlisted options for every 4 shares issued with an exercise price of $0.02 (being a 54% premium to the issue price of Shares under the Placement) and a 4-year term which will see 317,307,690 unlisted options (“Options”). 216,967,454 free attaching unlisted Options will be issued utilising the Company’s existing placement capacity pursuant to Listing Rule 7.1, with the balance to be issued subject to shareholder approval.
The issue price under the Placement represents a 25.3% discount to the volume weighted average price ("VWAP") of IonicRE shares over the past 10 trading days. Shares issued under the Placement will be issued utilising the Company’s existing placement capacity pursuant to Listing Rule 7.1 and are expected to be issued on or about Wednesday, 1 May 2024. The Shares issued under the Placement will rank equally with IonicRE’s existing Shares quoted on the ASX.
Mr. Brett Lynch, IonicRE’s Executive Chairman, will subscribe for 38,461,539 Shares ($500,000) under the Placement plus 28,846,154 free attaching Options with an exercise price of $0.02 and a 4-year term, subject to receiving approval at a general meeting of shareholders to be held this quarter. This is in addition to Mr Lynch’s $1.5 million equity investment in January 2024 when he joined the Board of the Company.
Canaccord Genuity (Australia) Limited and MST Financial Services Pty Limited acted as Joint Lead Managers to the Placement, with Canaccord acting exclusively as Global Coordinator and Sole Bookrunner (Global Coordinator) to the offer.
Use of Funds
It is the intention of the Company to use the funds raised under the Placement to advance the commercial partnership negotiations, magnet recycling demonstration plant enhancements and the completion of the feasibility study at Ionic Technologies, plus activity at the Makuutu demonstration plant tied to offtake negotiations and working capital.
The Joint Lead Managers will be entitled to receive a fee equal to 6% of the Placement proceeds, excluding the amount subscribed by Mr. Brett Lynch. Subject to shareholder approval, the Company proposes to issue 20 million unlisted options to the Joint Lead Managers with an exercise price of $0.02 and expiring 4 years after the date the options are issued.
All amounts are in Australian dollars unless otherwise specified.
Nothing contained in this announcement constitutes investment, legal, tax or other advice. Investors should seek appropriate professional advice before making any investment decision.
Click here for the full ASX Release
This article includes content from Ionic Rare Earths, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ChemX Materials: Developing Innovative Processing Technology to Produce High Purity Alumina
ChemX Materials (ASX:CMX) develops innovative processing technology to produce high purity alumina for advanced technology and clean energy applications. The company's 100 percent owned, Australian patented HiPurA® process technology offers a low cost and energy intensity production method to produce high purity alumina (HPA).
HPA is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors and synthetic sapphires. Synthetic sapphires are critical in the production of applications such as smart watches, iPhones and laptop screens.ChemX Materials is also developing a high purity manganese project. The Jamieson Tank project is located on two exploration tenements, EL 5920 and EL 6634 in the Eyre Peninsula in South Australia. These tenements collectively cover an area of 718 km2.
ChemX Materials completed a 94-hole drill program at the Jamieson Tank project, totaling 6,164 metres and released its maiden Mineral Resource Estimate in September 2023. The Mineral Resource Estimate reported 13.1 Mt at 5.7 percent manganese, with 21 percent classified as Indicated and 79 percent classified as Inferred.
Company Highlights
- ChemX Materials Limited (ChemX Materials) is an Australian company developing an innovative, processing technology to produce high-purity alumina (HPA), this process is called HiPurA®.
- ChemX Materials owns 100 percent of HiPurA® and was granted an Australian patent for this technology in January 2024.
- High purity alumina is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors, smart watches and iPhones.
- The HiPurA® process is modular, scalable and uses a readily available aluminous chemical as its feedstock, therefore is not reliant on mine production offtake, all of which enable the technology to be deployed close to end users' manufacturing operations.
- ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) high purity alumina at micro plant scale. This testwork indicates HiPurA® is low in cost and energy intensity.
- ChemX Materials is constructing a pilot plant to demonstrate HiPurA® can work at scale, which is the next step towards commercialisation. The pilot plant construction is underway and on track for commissioning in June 2024.
This ChemX Materials profile is part of a paid investor education campaign.*
Click here to connect with ChemX Materials (ASX:CMX) to receive an Investor Presentation
Massive Maiden Mineral Resource Estimate >1B Tonnes for EMA Rare Earth Project
Brazilian Critical Minerals Limited (ASX: BCM) (“BCM” or the “Company”) is pleased to announce a maiden Mineral Resource Estimate (MRE) for the Ema and Ema East projects (collectively Ema), forming part of the Company´s wholly owned REE projects, Apuí, Amazon, Brazil (Table 2) at a cut-off of 500ppm the Inferred Mineral Resource Estimate contains 1,017Mt @ 793 ppm TREO.
Highlights
- JORC 2012 compliant Inferred Mineral Resource Estimate (MRE) of 1.02Bt @ 793ppm TREO, including a higher-grade portion of 331Mt @ 977ppm TREO
- Places Ema as one of the largest1 tonnage fully ionic clay, rare earth deposits in the world
- High magnetic REO (Nd, Pr, Dy, Tb) element proportion of 27 – 31% of basket positioning it as one of Brazil’s most enriched MREO deposits
- MRE developed from only 46% of the available area at Ema, with 107km2 available for further exploration
- The mineralisation is close to surface, amenable to low-cost open pit mining methods and remains open at depth and to the east and west
- Drilling program is now being designed to convert MRE from Inferred to Indicated and Measured categories
MRE when coupled with previously announced1 world class metallurgical testwork recovery results of the magnetic rare earth oxides (MREO), as listed below, confirm the following:
- 10 metres @ 76% Nd, 74% Pr, 47% Dy and 54% Tb from 10m (EMA-TR-101)
- 6 metres @ 66% Nd, 61% Pr, 56% Dy and 83% Tb from 10m (EML-TR-059)
- 13 metres @ 71% Nd, 62% Pr, 45% Dy and 52% Tb from 5m (TR-071)
- 5 metres @ 66% Nd, 66% Pr, 52% Dy and 55% Tb from 12m (TR-059)
- 10 metres @ 65% Nd, 61% Pr, 43% Dy and 50% Tb from 10m (TR-110)
- Ema is a fully ionic clay rare earth deposit – there is currently zero drilling into fresh rock
- Is amenable to a low cost REE metal recovery process – low reagent usage, high impurity removal in final product
- Recoveries achieved using standard weak ammonium sulphate leaching solution, pH 4, at ambient temperatures over low leach times of only 30 minutes duration
- Results demonstrate mineralisation is suited to low-cost processing through conventional processing facilities commonly used in China
Andrew Reid, Managing Director, commented:
“Today’s announcement is very important for the Company and our shareholders as it now sets us on a path towards development. This result places Ema as one of the largest ionic rare earths deposits in the world. The team has done a tremendous job in getting such a large MRE defined in less than 1 year, which now confirms the immense potential of the Ema project in Brazil.
Not only do we have a massive mineral resource of >1 billion tonnes but also significantly we have >300 million tonnes at grades close to 1,000ppm which will assist in generating positive financial cash flow models.
Opportunities to increase both grade and tonnage remain high due to the extremely conservative global specific gravity (SG) of 1.34 which was applied to the estimated volumes. Additional deeper, less weathered samples from the higher-grade horizon is expected to result in significantly higher sg’s.
With only 46% of the total area drilled, the team is confident of increasing not only tonnages but believes the opportunities to also increase the grade are well founded and will be tested through the next round of drilling commencing over the coming months. BCM is now well on its way to establishing the Company as a global rare earths leader.”
Click here for the full ASX Release
This article includes content from Brazilian Critical Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ChemX Materials
Overview
ChemX Materials (ASX:CMX) is a critical materials company developing innovative processing technology to produce high purity alumina for advanced technology and clean energy applications.
ChemX Materials’ 100 percent owned, Australian patented HiPurA® process technology offers a low cost and energy intensity production method to produce high purity alumina (HPA).
HPA is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors and synthetic sapphires. Synthetic sapphires are critical in the production of applications such as smart watches, iPhones and laptop screens.Company Highlights
- ChemX Materials Limited (ChemX Materials) is an Australian company developing an innovative, processing technology to produce high-purity alumina (HPA), this process is called HiPurA®.
- ChemX Materials owns 100 percent of HiPurA® and was granted an Australian patent for this technology in January 2024.
- High purity alumina is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors, smart watches and iPhones.
- The HiPurA® process is modular, scalable and uses a readily available aluminous chemical as its feedstock, therefore is not reliant on mine production offtake, all of which enable the technology to be deployed close to end users' manufacturing operations.
- ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) high purity alumina at micro plant scale. This testwork indicates HiPurA® is low in cost and energy intensity.
- ChemX Materials is constructing a pilot plant to demonstrate HiPurA® can work at scale, which is the next step towards commercialisation. The pilot plant construction is underway and on track for commissioning in June 2024.
Key Business Segments
High Purity Alumina Processing Technology - HiPurA®
ChemX Materials is developing an innovative processing technology to produce high-purity alumina (HPA). This process is called HiPurA®. ChemX Materials owns 100 percent and holds an Australian patent for HiPurA®. ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) pure HPA at micro plant scale. This test work has also demonstrated that HiPurA® is superior compared to alternative technologies, offering several advantages, including:
- Lower costs – both capital and operating.
- Independent feedstock - – process is not tied to mine production and uses a readily available aluminous industrial chemical.
- Easily scalable – production output can increase based on demand.
- Modular – can be built near end users’ manufacturing operations.
- Optionality – patented technology can be licenced to end users.
- Lower carbon footprint – technology is not energy intensive.
HPA has several applications, the most important being lithium-ion batteries used in electric vehicles (EVs) and energy storage applications. HPA is used in the coating of the battery separator to enhance safety and performance. The outlook for EVs is very promising. With the adoption of EVs growing rapidly year on year as governments across the globe deploy domestic incentives and regulations to reduce the use of internal combustion engines to meet net zero targets.
HPA is also a key in the production of synthetic sapphire, which is used in LEDs, semiconductors, lasers, optical lenses and medical devices.
ChemX Materials has proven its HiPurA® technology can achieve above 99.99 percent (4N) HPA purity at micro plant scale. Following the technical success of the micro plant, ChemX Materials is constructing a 24 tpa pilot plant in Western Australia. The pilot plant is expected to be operational in June 2024.
In January 2024, ChemX Materials was granted an Australian Patent for its innovative HiPurA® technology. Based on the success of the Australian patent, it is anticipated that ChemX Materials will be afforded similar protections in other international jurisdictions. The patent is important as it provides intellectual property protection as ChemX Materials seeks to commercialise the technology globally.
HPA production from the pilot plant will be used for customer qualification and marketing purposes. ChemX Materials is actively pursuing commercial opportunities globally. Commercialisation options include:
- Build, own, operate a commercial scale plant to sell high purity alumina to end users.
- Licence the HiPurA® technology for deployment at end users’ manufacturing locations.
High Purity Manganese Project
ChemX Materials is developing a high purity manganese project. The Jamieson Tank project is located on two exploration tenements, EL 5920 and EL 6634 in the Eyre Peninsula in South Australia. These tenements collectively cover an area of 718 km2.
ChemX Materials completed a 94-hole drill program at the Jamieson Tank project, totaling 6,164 metres and released its maiden Mineral Resource Estimate in September 2023. The Mineral Resource Estimate reported 13.1 Mt at 5.7 percent manganese, with 21 percent classified as Indicated and 79 percent classified as Inferred.
High purity manganese has essential applications in lithium-ion batteries as a cathode material. Manganese provides energy density, stability and lower costs and is a critical material for modern battery chemistries. As the world pursues decarbonisation it is forecasted that the demand for manganese will grow.
With the objective of the United States Inflation Reduction Act (IRA) to reduce its reliance on Chinese sources of critical minerals, by 2025, the Jamieson Tank project is an important prospect. China currently supplies around 95 percent of the global manganese sulphate.
The South Australian jurisdiction offers excellent infrastructure. The Jamieson Tank project is in a province that is characterised by rapidly growing renewable energy infrastructure (wind, solar and hydrogen) and access to a local skilled workforce. The Jamieson Tank project is accessible by road, approximately 160 kms from the port of Whyalla and near a major regional airport.
The tenements in which the Jamieson Tank project is located also host kaolin and rare earth elements (REE) deposits. The area has historically been well known and explored for its potential for kaolin. The Kelly Tank exploration target is estimated to be 55 - 130 Mt of extractable kaolin.
In 2022, ChemX Materials undertook a drilling program and identified REE hosted within the kaolin throughout the tenements. The drilling program intersected high-grade REE mineralisation with intervals of up to 5 metres @2,468 parts per million total rare earth oxides from 7 metres. Importantly, it remains open in various directions, providing potential exploration upside for future drill programs.
Management Team
Peter Lee – Chief Executive Officer
20+ years’ experience across mining, metals processing and chemical industries within Canada and Australia. Lee has held technical leadership roles with companies including Rio Tinto, BHP, Roy Hill and WSPGolder. He is an expert in refining and electrochemical processes and a registered P. Eng Engineers and Geoscientists of British Columbia, Canada, and a member of AusIMM and AICD.
Warrick Hazeldine – Non-executive Chair
Warrick Haseldine has more than 20 years of experience across capital markets and strategic communications with a focus on battery materials. He is the co-founder of advisory firm Cannings Purple, and former chair and non-executive director of Global Lithium Resources Ltd (ASX:GL1). Hazeldine is currently a director of Surfing WA, advisory board member of Curtin University, and a non-executive director of Purple.
Stephen Strubel – Executive Director and Company Secretary
Stephen Strubel is the company founder with 20 years’ experience in finance and corporate governance. Struber held a senior leadership role with Patersons Securities and has been a director and company secretary for ASX-listed companies. He holds a bachelor’s degree in banking and international trade from Victoria University and an MBA from the Australian Institute of Business.
Alwyn Vorster – Non-executive Director
Alwyn Vorster has 30+ years’ experience in the resources industry, spanning several commodities including rare earths, iron ore, bauxite, potash and salt. Vorster has several senior leadership positions including chief executive officer of Hastings (ASX:HAS) and managing director of BCI Minerals (ASX:BCI) and Iron Ore Holdings (ASX:IOH). Vorster is currently non-executive director of Lindian Resources (ASX:LIN) and Arrow Minerals (ASX:AMD).
Rock Chips of up to 3.22% TREO Identified in Newly Granted Machinga Licence
Heavy rare earths (HREE) and Niobium (Nb) explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to announce the receipt of the assay results for the second comprehensive reconnaissance rock chip and soil sampling program completed at Machinga Main Licence Area Anomaly (Figure 1).
HIGHLIGHTS
- Sampling program consisting of a total of 727 rock chips and soil samples recently completed into recently granted licence area at Machinga
- Full assay results received from soil and rock chip sampling program at Machinga:
- 305 soil samples were taken on a 200m x 100m grid
- Assays returned up to 0.49%TREO
- 21% of all soil samples returned >1000ppm (>0.1%) TREO
- 422 rock chip samples were taken on a nominal 50 x 50m grid
- Assays returned up to 3.22% TREO, with 5 samples returning 1%+ TREO
- Rock chips also returned up to 0.75% Nb2O5
- 305 soil samples were taken on a 200m x 100m grid
- Two anomalies west of the main road of the newly granted licence show a much more continuous character of higher TREO results - highlighting the scale potential of REE mineralisation in this new area of the licence
- Assays will assist in refining targets ahead of next phase of drilling at Machinga
Machinga Soil and Rock Chip Sampling Program
Following on from the DDH assays reported in December 2023, DY6 conducted a comprehensive geochemical sampling over the Machinga exploration licences (EL0705/EL0529) initially, targeting the western side of the maiden drilling in Area 1 and 2 in licence EL0529 before moving to the anomalous soil responses in the southern region of Machinga main (EL0705) (Figure 1). The program consisted of a total of 727 samples which included 422 rock chips and 305 soils. The full list of assay results is included in Table 1.
Geochemical sampling was extended into the new licence and over the anomalous southern region covering and area of approximately 3000m x 2000m along a NW-SE strike direction. A previously reported extensive uranium radiometric anomaly, which spans over 7km along the same geological unit (refer ASX release dated 6 July 2023) is being targeted by the Company.
Click here for the full ASX Release
This article includes content from DY6 Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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