
September 03, 2025
Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced for the first time three new assay results from the 2024 diamond drill hole program at the Fjord Deposit at the Tanbreez Rare Earth Project in Greenland.
Highlights – 2024 New Diamond Drill Hole Results
- Consistent high-grade rare earth mineralization intersected in all four reported holes, with Total Rare Earth Oxide (TREO) grades between 0.40% and 0.42%.
- High proportion of heavy rare earth oxides (HREO) ~26% of TREO, reinforcing the deposit’s potential strategic value.
- Significant zirconium oxide (ZrO₂) grades of 1.57–1.58% across all holes.
- Gallium oxide (Ga₂O₃) assays between 93–99 ppm, providing a potential additional economic credit.
- All holes drilled vertically (-90°) through sub-horizontal, stratiform kakortokite layers, intersecting mineralisation at approximately true thicknesses.
- Mineralisation remains open at depth in all reported holes.
- Drilling confirms continuity of grade and mineralogy across multiple sections of the Fjord Deposit, consistent with historical data.
- All the drill holes were collared within the Fjord Deposit with 23.6MT @ 0.42% TREO Maiden Mineral Resource.
- The holes are part of the ongoing 2024–2025 Fjord Resource Upgrade program, with over 1900 m drilled to date in 2025 and further assays pending.
Tony Sage, Executive Chairman of the Company, commented:
“These additional 2024 diamond drill hole results indicate the consistent grades of rare earth and gallium, with a high proportion of critical heavy rare earths. Our rare earth grades and gallium concentration, position Tanbreez as a strategically important asset for Western supply chains. With China's control over the rare earth market and gallium, securing sources of these critical minerals has become paramount for U.S. defense capabilities and national security. The progress we've made, with 1,316 meters of diamond core drilling completed in 2024, and over 1,850 meters of drilling as part of our 2025 Fjord Resource Upgrade resource extension program, significantly strengthens our ability to build on our substantial resource base. With further assays pending and more drilling underway, we see strong potential to grow the scale and nature of the project's mineral inventory.”
Summary New Drill Hole Results
Drill hole collars and assay Tables 1 and 2 and Figure 1 and Appendix 1, 2 and 3.
Hole ID | Depth (m) | TREO (%) | HREO (% of TREO) | ZrO₂ (%) | Ga₂O₃ (ppm) | ||||||
D-24 | 85.70 | 0.42 | 26.3% | 1.58 | 99 | ||||||
E-24 | 62.30 | 0.40 | 26.5% | 1.57 | 93 | ||||||
F-24 | 107.45 | 0.40 | 25.5 | 1.57 | 93 | ||||||
Cut-off | 0.30 |
Table 1 – 2024 New assay results summary for D-24, E-24, F-24
New Drill Hole Results
Drill Hole D-24
Drilled vertically to 85.7m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.42% TREO (including 25.9%,HREO)
- 1.57% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1340ppm Nb2O5 niobium pentoxide,
- 99ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 63m downhole.
Drill Hole E-24
Drilled vertically to 62.3m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.39% TREO (including 26.2%,HREO)
- 1.56% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1330ppm Nb2O5 niobium pentoxide,
- 90ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 61.3m downhole.
Drill Hole F-24
Drilled vertically to 107.45m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.40% TREO (including 25.6%,HREO)
- 1.57% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1260ppm Nb2O5 niobium pentoxide,
- 93ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 72m downhole.

Figure 1 - Tanbreez Site Visit August 29 Malcolm Day Director CRML, Greg Barnes JV Partner, George Karageorge CTO, Anna Wingle Tanbreez Mining Greenland

Figure 2 - Fjord and Hill Deposit drill hole locations for 2007, 2010, 2013, 2024 in red with 2025 drill hole collars completed in July with 9 diamond holes awaiting drilling.
Drill Hole Statistics
Drill hole collars and assay Tables 1 and 2 and Figure 1 and Appendix 1, 1A , 2 and 3.
Hole ID | Depth From | Depth To | Interval | TREO% | HREO% | ZrO2 % | Ta2O5 ppm | Nb2O5 ppm | Ga2O5 ppm | |
A1-24 | - | 40.00 | 40.00 | 0.48 | 0.13 | 1.86 | 134 | 1513 | 103 | |
A2-24 | - | 41.00 | 41.00 | 0.51 | 0.14 | 1.96 | 145 | 1685 | 96 | |
B-24 | - | 58.00 | 58.00 | 0.49 | 0.13 | 1.99 | 144 | 1651 | 101 | |
C-24 | - | 65.00 | 65.00 | 0.54 | 0.14 | 1.98 | 156 | 1741 | 89 | |
D-24 | 1.00 | 63.00 | 62.00 | 0.42 | 0.11 | 1.58 | 112 | 1344 | 99 | |
E-24 | 1.00 | 62.30 | 61.30 | 0.40 | 0.11 | 1.57 | 105 | 1336 | 93 | |
F-24 | 0.00 | 72.00 | 72.00 | 0.40 | 0.10 | 1.57 | 103 | 1256 | 93 |
Table 2 - 2024 Drill Hole Assay results summary to date 2024 diamond drill hole program in the Fjord Area. Assay results are reported for drill holes D, E and F. A1, A2, B and C were reported on 22 August 2025. Remaining assay results for holes G to Z are expected to be reported in Q3, 2025.
Background – Fjord Deposit Drilling
The 2024–2025 drilling campaign in the Fjord area has targeted confirmatory and step-out holes to:
- Validate historical drilling data.
- Refine the geological model for resource estimation.
- Provide material for metallurgical and environmental test work.
All drill holes in this program are vertical, intersecting the sub-horizontal layers at true thickness. The three holes reported here return TREO grades between ~0.40% and 0.42% with approximately 26% HREO, along with ZrO₂ values of 1.57–1.58% and gallium oxide contents of 93–99 ppm. These results are consistent with historical assays and demonstrate the persistence of grade and mineralogy across the Fjord deposit.
From a deposit classification perspective, the kakortokite-hosted REE mineralisation is best described as stratiform magmatic, confined entirely to the kakortokite unit and not observed in adjacent lithologies such as lujavrite or naujaite. This strong lithological control underpins confidence in resource modelling, supports bulk mining strategies, and provides reliable input for geology domaining.
Given the continuity of mineralization over several kilometres, the Fjord deposit represents a significant portion of the overall Tanbreez mineral inventory. Ongoing drilling is expected to further delineate these resources, with pending assays from additional holes likely to extend the known mineralised envelope and refine the grade distribution.
Sampling over the 2024 diamond holes was taken over kakortokite intervals above the Black Madonna lower boundary.
- Collar data: All collar locations, RLs, azimuths, dips, and hole lengths have been clearly presented in Table 2 of the report.
- Assay data: Table 1 in the report provides the suite of weighted average downhole assay results for TREO, HREO, Ga₂O₃, and other oxides.
- True widths: All drill holes are vertical (-90°) through sub horizontal mineralised layers, so intersections are true widths.
- No cut-off grades or metal equivalents were applied. All assays are reported at face value.
Gallium Results
The gallium oxide Ga2O3 mineralization assay results ranges from low to high is 90ppm to 100ppm for the four 2024 drillholes published to date.
Drill holes that were not assayed for gallium, tantalum and niobium in 2013 will be assayed from existing pulps submitted to ALS Metallurgical in Perth for analysis in the coming months.
ALS laboratories will also assay all sample for gallium for the 2024 and 2025 drill holes with results that will be published in September and October 2025. The gallium oxide results for all diamond holes published to date may add a credit to the TREO-HREO mixed concentrate.
The Conversation (0)
6h
Rare Earths Stocks: 9 Biggest Companies in 2025
Rare earth elements (REEs) are crucial for technologies like smartphone cameras and defense systems.
A select few from the group of 17 are also vital to clean energy transition industries such as electric vehicles (EVs) — neodymium and praseodymium are found in the permanent magnet synchronous motors used in EV drive trains.
The rare earths sector has been thrust back into the geopolitical spotlight as supply chains face mounting pressure from escalating US-China trade tensions and tightening global regulations.
In May 2024, the former US administration imposed a 25 percent tariff on Chinese rare earth magnets starting in 2026, marking the first time these components have been targeted under Section 301. The move hits sintered neodymium-iron-boron (NdFeB) magnets, vital for EVs and wind turbines, highlighting their strategic role in clean energy and defense.
Soon after, China’s State Council announced new rules effective October 1, 2024, tightening control over rare earth production and banning the export of extraction and magnet-making technology.
Since taking office in January 2025, US President Donald Trump has escalated the trade conflict, imposing cumulative tariffs of 54 percent on Chinese goods. Beijing responded by heightening export controls on seven strategic rare earth metals associated with global defense, renewable energy and the technology sectors.
China’s dominance remains a defining feature of the market: the country accounts for nearly 70 percent of mine output and more than 80 percent of refining capacity. That concentration has created persistent vulnerabilities, especially for medium and heavy rare earths like dysprosium and terbium, which are already in tight supply.
Analysts note that tariffs and export restrictions are setting the stage for a two-tiered market, where ex-China buyers face premiums while domestic Chinese buyers remain insulated.
Despite the volatility, demand fundamentals continue to trend upward. Permanent magnets are driving growth across EVs, clean energy and defense, and efforts to diversify supply are accelerating.
In the US, Washington has increased Department of Defense (DoD) funding and streamlined permitting to support domestic production, while in Europe, a law enacted in May 2024 aims to reduce Chinese reliance by boosting output of critical minerals by 2030.
These recent escalations could be a boon to rare earth minerals and rare earth magnet stocks operating in the space outside of China. Investors are watching closely to see which rare earth companies are best positioned to capture the opportunity.
To help paint a better picture of the REE landscape, the Investing News Network has compiled a list of the biggest rare earths stocks by market cap on US, Canadian and Australian stock exchanges. Data was collected on August 21, 2025, using TradingView’s stock screener.
US rare earths stocks
The US is striving to secure stable domestic supply of REEs outside China, a matter that has become even more pressing in 2025 due to the escalation of the US-China trade war and China's new rare earth mineral export restrictions.
The nation has vast rare earths reserves and is the second largest global REE producer thanks to its sole operating rare earth mine, Mountain Pass. However, it currently lacks sufficient processing facilities.
American rare earths companies are working to address this imbalance, presenting investment opportunities for those looking to capitalize on the market's growth potential. Learn more about MP Materials, Energy Fuels and NioCorp Developments, the three largest US rare earths stocks by market cap, below.
1. MP Materials (NYSE:MP)
Market cap: US$11.79 billion
Share price: US$66.60
MP Materials, the largest producer of rare earths in North America, focuses on high-purity separated neodymium and praseodymium (NdPr) oxide, heavy rare earths concentrate, lanthanum and cerium oxides and carbonates.
The company went public in mid-2020 after acquiring the Mountain Pass mine in California, the only operational US-based rare earths mine and processing facility. In Q3 2023, MP Materials began producing separated NdPr, marking a significant milestone.
In April 2024, MP Materials was awarded US$58.5 million under the Section 48C tax credit to build the US’s first fully integrated rare earth magnet plant.
Located in Fort Worth, Texas, the facility began making NdFeB magnets in January, with first deliveries due by year-end. MP Materials sources feedstock from its Mountain Pass mine, creating a fully integrated, closed-loop supply chain with integrated recycling.
In its Q2 2025 results, MP Materials reported an 84 percent year-over-year increase in revenue, which totaled US$57.4 million in Q2. Additionally, the company achieved record NdPr output of 597 metric tons (MT), while its rare earth oxide (REO) production reached 13,145 MT, marking its second-highest quarterly production ever and a 45 percent increase from last year.
In early July, MP penned a deal with the US DoD in which the government would purchase US$400 million worth of preferred stock in the company, making the DoD the company's largest shareholder.
The funds are earmarked for the expansion of its processing capabilities at Mountain Pass and the construction of a second magnet manufacturing facility in the US.
MP also signed a US$500 million deal with Apple (NASDAQ:AAPL) to produce rare earth magnets in the US using only recycled materials. Starting in 2027, MP will supply magnets for hundreds of millions of Apple devices, including iPhones, iPads and MacBooks.
2. Energy Fuels (NYSEAMERICAN:UUUU,TSX:EFR)
Market cap: US$1.97 billion
Share price: US$8.53
Energy Fuels is a leading US uranium and rare earths company that operates key uranium production centers, including the White Mesa mill in Utah and the Nichols Ranch and Alta Mesa projects in Wyoming and Texas.
The company finished construction of Phase 1 REE separation infrastructure at White Mesa in early 2024, and in June reported successful commercial production of separated NdPr that meets the specifications required for REE-based alloy manufacturing. The Phase 1 REE separation circuit is now operating at full capacity.
Following its 2023 acquisition of the Bahia heavy mineral sands project in Brazil, Energy Fuels made multiple deals in 2024 with the aim of acquiring feedstock for White Mesa.
In early June of last year, Energy Fuels executed a joint venture that gives it the option to earn a 49 percent stake in Astron's (ASX:ATR) Donald rare earths and mineral sands project in Victoria, Australia. Donald is expected to begin production as early as 2026, and will supply the White Mesa mill with 7,000 to 8,000 MT of monazite sand in rare earths concentrate annually in Phase 1.
In October 2024, Energy Fuels acquired Australian mineral sands company Base Resources, which owns the Toliara project in Madagascar.
As for 2025, in mid-March Energy Fuels inked a memorandum of understanding with South Korea-based POSCO Holdings (NYSE:PKX,KRX:005490) for the potential creation of a non-China REE supply chain for EVs and hybrid EV drivetrains for US, EU, Japanese and South Korean auto markets.
In June 2025, the Government of Victoria approved the work plan for the construction and operation of the Donald rare earth and mineral sand project. The site can now move into construction.
A month later, Energy Fuels achieved pilot-scale production of heavy rare earth oxides at its White Mesa mill and aims for commercial output by late 2026. Additionally, the company noted that it could source feedstock from the Donald project by the end of 2027.
In late August, Energy Fuels successfully produced its first kilogram of 99.9 percent pure dysprosium oxide at pilot scale from White Mesa. Using monazite sourced from Florida and Georgia, Energy Fuels now plans to produce 2 kilograms weekly.
“Multiple magnet manufacturers and OEMs have already expressed their strong interest in obtaining these samples to accelerate their validation processes,” the company said.
3. NioCorp Developments (NASDAQ:NB)
Market cap: US$291.32 million
Share price: US$4.01
NioCorp Developments is advancing its Elk Creek project in Nebraska, which features North America's highest-grade niobium deposit under development, with significant scandium production capacity. The Elk Creek project is fully permitted for construction.
NioCorp is working to secure financing to move the project forward, and the US Export-Import Bank advanced its application for financing to its next stage of due diligence in February.
An updated 2022 feasibility study highlights an extended mine life, improved ore grades and enhanced economics for niobium, scandium and titanium.
In April 2024, NioCorp began exploring integrating permanent rare earth magnet recycling at its Elk Creek project to produce separated rare earth oxides which could then be used to produce new NdFeB magnets. It completed initial bench-scale tests in October.
2025 has been busy for NioCorp. It completed a US$45 million public offering in July, which, combined with an additional US$15 million, will be used to accelerate pre-construction activities at Elk Creek.
NioCorp also secured up to US$10 million from the US DoD under the Defense Production Act’s Title III program. The funding, tied to milestone achievements, is aimed at establishing the country’s first domestic scandium mine-to-manufacture supply chain.
The award is expected to bolster NioCorp’s efforts to secure up to US$800 million in debt financing from the US Export-Import Bank.
In an effort to bolster its Nebraska land position, NioCorp acquired three key land parcels associated with the Elk Creek project in early August. The adjacent parcels will house production operations and infrastructure.
NioCorp is currently awaiting the results from the Phase I drilling campaign completed in mid-August. The program aims to convert portions of the resource from the indicated and probable categories to measured and proven.
Canadian rare earths stocks
As part of Canada's Critical Minerals Strategy, the government has allocated C$3.8 billion in federal funding for opportunities across the critical minerals value chain, from exploration to recycling.
REEs are among the minerals listed as critical.
Additionally, the government has designated C$7.5 million to support the establishment of a rare earths processing facility in Saskatoon, Saskatchewan. In mid-September 2024, the Saskatchewan Research Council (SRC) announced that the facility reached commercial-scale production, making it the first in North America to achieve this milestone.
The SRC plans to produce 400 MT annually once it is fully operational.
Learn about Aclara Resources, Mkango Resources and Ucore Rare Metals, the three largest Canada-listed rare earth stocks by market cap, below.
1. Aclara Resources (TSX:ARA)
Market cap: C$321.18 million
Share price: C$1.46
Aclara Resources is advancing its Penco Module project in Chile, characterized by ionic clays abundant in heavy rare earths, and its Carina Module project in Brazil.
Its objective at the Penco Module is to generate rare earths concentrate via an environmentally friendly extraction process. This approach aims to eliminate the need for a tailings facility, minimize water use and ensure the absence of radioactivity in the final product.
Aclara successfully concluded a semi-industrial pilot plant program for Penco Module in 2023, yielding 107 kilograms of wet high-purity heavy rare earths concentrate from 120 MT of ionic clays. Aclara and Vacuumschmelze penned a memorandum of understanding in early July 2024 to jointly pursue a "mine-to-magnets" solution for ESG-compliant permanent magnets.
The company submitted a new environmental impact assessment (EIA) for the project in June 2024, and it moved to the next stage in August.
In May 2025, Aclara received the second round of technical observations (Second ICSARA) from the Environmental Service Assessment Authority, including 205 questions regarding technical aspects of the EIA. The company plans to submit its response during Q3 2025.
Aclara is also advancing its Carina Module project in Brazil, which it discovered in 2023. In December of that year, Aclara disclosed an initial inferred resource for the project, saying it encompasses approximately 168 million MT grading 1,510 parts per million TREO and 477 parts per million desorbable rare earth oxides.
In August 2024, Aclara released an updated preliminary economic assessment for Carina Module featuring initial capital costs of US$593 million and sustaining capital costs of US$86 million. Later in the month, the company signed a memorandum of understanding (MoU) with the State of Goiás and Nova Roma to expedite the Carina Module project.
In late May 2025, Aclara submitted its EIA for the Carina Module, and anticipates its approval during Q4 2025. The company also reiterated its expectations to produce an average of 191 MT of dysprosium and terbium annually. As well as yearly output targets of 1,350 MT of neodymium and praseodymium.
On the innovation side, Aclara is deepening its tech-driven approach to rare earths through a long-term letter of intent (LOI) with Stanford’s Mineral-X initiative to leverage AI, data science and decision modeling to build a more resilient heavy rare earth supply chain.
Meanwhile, an MoU with Virginia Tech covers operation of Aclara’s pilot plant showcasing its solvent-extraction technology for producing high-purity rare earth elements.
2. Mkango Resources (TSXV:MKA)
Market cap: C$262.87 million
Share price: C$0.79
Mkango Resources is advancing as a producer of recycled rare earth magnets, alloys, and oxides, through its 79.4 percent stake in Maginito with partner CoTec Holdings (TSXV:CTH,OTCQB:CTHCF).
Mkango’s assets include Malawi’s Songwe Hill project, targeting neodymium, praseodymium, dysprosium, and terbium, and the Pulawy rare earths separation project in Poland, alongside a broader exploration portfolio in Malawi.
In July 2024, Mkango and the Malawian government signed a mining development agreement for the Songwe rare earths project, granting Malawi a 10 percent stake and customs and excise exemptions. Through Maginito, Mkango also owns HyProMag, which licenses the Hydrogen Processing of Magnet Scrap (HPMS) process to recycle rare earth magnets from scrap.
A pilot plant using a long-loop recycling process underpinned by the HPMS process was commissioned in July 2024. Additionally, Maginito is expanding HyProMag’s recycling technology to the US through the joint venture HyProMag USA, with a positive feasibility study completed in November 2024.
While the feasibility study was based on two HPMS vessels, HyProMag announced in March 2025 that conceptual studies are underway to expand the capacity to three vessels and the addition of "long-loop chemical processing" to complement the HPMS short-loop recycling process.
In an August 2024 update for investors, Mkango reported that HyProMag will receive 350,125 euros to develop its eco-friendly NeoLeach technology, which will further upgrade metals recovered with HPMS. The funding, part of the 8 million euro GREENE project, aims to improve the resource efficiency and performance of rare earth permanent magnets.
Mkango completed a C$4.11 million private placement in early February 2025 to help fund the advancement of its rare earth magnet recycling projects in the UK and Germany. The next month, the company provided an update on the construction of its UK magnet recycling and manufacturing facility, which is on track to begin initial commercial production by the end of Q2 2025.
In late March, the European Commission designated Mkango's Pulawy project in Poland as a strategic project under the Critical Raw Materials Act.
In June, HyProMag USA received a “Make More in America” LOI from the US Export-Import Bank. The letter signals potential financing of up to US$92 million for the company’s first integrated rare earth recycling and magnet manufacturing facility in Dallas-Fort Worth, with a 10 year repayment term.
Later in the month, Mkango updated on its advanced pilot program and the scale-up of HPMS technology, aiming to produce domestically sourced, short-loop recycled rare earth magnets with a minimal carbon footprint in the UK and Germany in 2025, and the US in 2027. The company commenced initial production runs on its commercial-scale HPMS vessel at Tyseley Energy Park in Birmingham in early July.
On July 3, Mkango signed a definitive merger deal with Crown PropTech Acquisitions that would see several of Mkango’s subsidiaries, including Lancaster Exploration, combine with Crown to form Mkango Rare Earths. The combined company will be a vertically integrated rare earth firm that owns the Songwe Hill and Pulawy projects, and its shares are expected to trade on Nasdaq.
In the US, Intelligent Lifecycle Solutions started stockpiling feedstock under its supply and pre-processing agreement with HyProMag USA in late August. Pre-processing is slated to start before year-end 2025 at ILS facilities in South Carolina and Nevada.
3. Ucore Rare Metals (TSXV:UCU)
Market cap: C$231.44 million
Share price: C$2.60
Ucore Rare Metals is focused on the exploration and separation of rare earth elements in Canada and the US.
The company owns the Bokan-Dotson Ridge rare earth project in Alaska and is developing a strategic metals complex for processing heavy and light rare earth elements in Louisiana, US. Ucore acquired an 80,800 square foot brownfields facility in Alexandria, Louisiana, for developing its first commercial REE processing facility in January 2024.
In Canada, Ucore's Ontario-based RapidSX demonstration plant, operated by Kingston Process Metallurgy, was commissioned to evaluate the techno-economic advantages, scalability and commercial viability of the RapidSX technology platform for separating and producing REEs like praseodymium, neodymium, terbium and dysprosium. This initiative was supported by a US$4 million award from the US DoD granted to Ucore's subsidiary, Innovation Metals.
Last year, Ucore entered and advanced partnerships with several companies. In April, Ucore tested mixed rare earths carbonate from Defense Metals' (TSXV:DEFN,OTCQB:DFMTF) Wicheeda project and confirmed it was suitable for commercial-scale processing at Ucore's planned facilities. A few months later, Ucore executed a non-binding MoU with Cyclic Materials to qualify Cyclic's recycled rare earth oxide product in Ucore's process.
In August 2024, Ucore and Meteoric Resources (ASX:MEI) signed an MoU for Meteoric to supply 3,000 MT of TREO from its Caldeira project in Brazil to Ucore's Louisiana strategic metals complex, and Ucore established a similar deal with Australia’s ABx Group (ASX:ABX) in early September under which ABx would supply Ucore with mixed rare earth carbonates from its Deep Leads ionic adsorption clay rare earths resource in Northern Tasmania.
At the start of 2025, Ucore was awarded C$500,000 via its partnership with Ontario’s Critical Minerals Innovation Fund to help finance the advancement of the company’s Canadian RapidSX commercial demonstration facility.
As for its Louisiana facility, the company received an US$18.4 million investment from the US DoD in May, its largest funding commitment to date. The funding will support construction of Ucore’s first commercial-scale RapidSX refining machine in Louisiana.
In late August, Ucore entered a non-binding LOI with Critical Metals (NASDAQ:CRML) for a 10 year offtake of heavy rare earth feedstock from Critical’s Tanbreez project in Greenland that will supply its Louisiana facility, with smaller volumes first processed at its demo facility in Ontario.
Australian rare earths stocks
Australia ranks among the globe's top rare earths producers and possesses the fourth largest rare earths reserves. The nation is notable for hosting the largest supplier of rare earths outside of China.
Learn more about Lynas Rare Earths, Iluka Resources and Arafura Resources, the three largest ASX-listed rare earths stocks focused stocks by market cap.
1. Lynas Rare Earths (ASX:LYC)
Market cap: AU$13.08 billion
Share price: AU$14.61
Well-known ASX-listed rare earths stock Lynas Rare Earths is the leading separated rare earths producer outside of China, with operations in Australia and Malaysia.
In Western Australia, Lynas operates the Mount Weld mine and concentrator and is ramping up processing at its Kalgoorlie rare earths processing facility.
Lynas secured AU$20 million from Australia’s Modern Manufacturing Initiative in mid-2023 to advance its apatite leach circuit at the Kalgoorlie plant. By December, the facility hit its first production milestone, marking the shift from commissioning to full-scale operations. Lynas’ new large-scale downstream Kalgoorlie rare earths processing facility came online in November 2024.
In August 2024, the firm reported a 92 percent increase in mineral resources and a 63 percent rise in ore reserves at Mount Weld. Resources grew to 106.6 million MT at 4.12 percent TREO, while reserves increased to 32 million MT at 6.44 percent TREO, including added tailings. The updated estimates boost contained heavy rare earths and support a mine life exceeding 20 years at higher production rates.
Lynas also processes mined material at its separation facility in Malaysia. After commissioning the new heavy rare earth separation circuit earlier in the year, the site achieved first production of dysprosium oxide in May 2025.
Later in the month, Lynas penned a non-binding memorandum of understanding with Menteri Besar, the Kelantan state investment arm in Malaysia, to supply mixed rare earth carbonate (MREC). Subsequently, the Malaysian facility reported the first production of terbium oxide.
According to Lynas, the Malaysian milestones mark the first commercial production of separated dysprosium and terbium oxides outside China in decades.
During its June fiscal quarter, the company also signed an MoU with Korea’s JS Link to develop a magnet plant in Malaysia and advanced key expansion projects at Mt Weld and Kalgoorlie.
On August 27, Lynas released its 2025 annual results and its new long-term strategy named Towards 2030. The company produced 10,462 metric tons of rare earth oxides, including 6,558 metric tons of NdPr, in its fiscal 2025.
While it had previously been working with the US DoD to establish a rare earth processing facility in Texas, Lynas shared that it is now uncertain if the facility will be built, in part due to permitting issues with the site. It is negotiating an offtake with the DoD for production from its current operations instead.
2. Iluka Resources (ASX:ILU)
Market cap: AU$2.71 billion
Share price: AU$6.34
Iluka Resources is advancing its Eneabba rare earths refinery in Western Australia with backing from the Australian government, which aims to bolster the country’s footprint in the global rare earths market. The company also owns zircon operations in Australia, including Jacinth-Ambrosia, the world's largest zircon mine.
Additionally, Iluka is progressing its Wimmera project in Victoria, focusing on mining and beneficiation of fine-grained heavy mineral sands in the Murray Basin. This project aims to supply zircon and rare earths over the long term. A definitive feasibility study for Wimmera is scheduled for completion by the end of 2025.
Iluka secured an AU$1.25 billion non-recourse loan for Eneabba under the AU$2 billion Critical Minerals Facility administered by Export Finance Australia, and the Australian government agreed to an additional AU$400 million in funding in December 2024.
This funding will support the development of Eneabba as Australia's first fully integrated refinery capable of producing both light and heavy separated rare earth oxides. The facility will process material from Iluka’s own feedstocks and third-party suppliers, with commissioning expected in 2027.
In early August 2025, Iluka signed a 15 year deal with Lindian Resources (ASX:LIN) for the annual supply of 6,000 MT of rare earth concentrate from Lindian’s Kangankunde project in Malawi. The feedstock will be processed at Eneabba, accounting for about 10 percent of the refinery’s capacity.
Also in August, Iluka released its half year results, which were impacted by global economic uncertainty and a subdued mineral sands market, according to the company. The data noted a 8 percent year-over-year revenue decline to AU$558 million in the mineral sands segment.
3. Arafura Resources (ASX:ARU)
Market cap: AU$468.22 million
Share price: AU$0.19
Arafura Resources, an Australian rare earths firm, has secured government funding to advance its Nolans rare earths project in the Northern Territory. Arafura is currently working toward a final investment decision for Nolans, which is shovel ready. Nolans is envisioned as a vertically integrated operation with on-site processing facilities.
A 2022 mine report updates Nolans' expected lifespan to 38 years, targeting an annual production capacity of 4,440 MT of NdPr concentrate. The project's definitive feasibility study highlights significant concentrations of neodymium and praseodymium, alongside all other rare earths in varying quantities.
Arafura has inked binding offtake agreements with Hyundai Motor (KRX:005380,OTC Pink:HYMTF), Kia (KRX:000270) and Siemens Gamesa Renewable Energy. Additionally, the company has a non-binding memorandum of understanding with GE Vernova's (NYSE:GEV) GE Renewable Energy to collaborate on establishing sustainable rare earths supply chains.
In late August 2024, Arafura signed a memorandum of understanding with Canada’s Saskatchewan Research Council to process rare earths from Arafura’s Nolans project into dysprosium and terbium oxides at SRC’s rare earths processing facility in Saskatchewan. The collaboration aims to support global supply chain diversification for energy transition technologies.
The company received a AU$200 million investment commitment from Australia's National Reconstruction Fund in January 2025.
In March 2025, Arafura announced a binding offtake agreement with Traxys Europe through which Arafura will supply a minimum of 100 MT per year of NdPr oxide over a five-year term from the Nolans project. Arafura has the option to increase the offtake to a maximum of 300 MT per year at its discretion.
The company provided an update in its annual report released in July, noting the Nolans project has advanced to the appraisal stage for 100 million euros in funding from the 1 billion euro German Raw Materials Fund, becoming only the second project to reach this phase. The proposed financing is linked to NdPr oxide supply, supported by Arafura’s existing offtake deal with Siemens Gamesa for 520 MT annually.
As of August 2025, Arafura has secured conditional approval for over US$1 billion in debt funding for the Nolans project.
In August, Arafura received a conditional letter of interest from Export Finance Australia to bolster equity alongside existing debt funding, and completed a AU$80M a “two-tranche institutional placement” at AU$0.19 per share. It also launched a AU$5M share purchase plan at the same price.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
02 September
Critical Metals Corp NASDAQ CRML – Surpasses 70% Completion Milestone of the Tanbreez Bankable Feasibility Study & Remains on Schedule for Completion on or Before Q4 2025
Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced that Tanbreez Mining Greenland A/S (“Tanbreez”) is approximately 70% complete on the final stages of the Bankable Feasibility Study (BFS) for a 500,000 tons per annum mining and processing operation at the Tanbreez Rare Earth Project in South Greenland. The BFS is being led by Danish engineering firm NIRAS A/S (“NIRAS”), a globally leading multidisciplinary engineering and environmental consultancy based in Denmark. The BFS remains on track for submission in Q4 2025. In addition, NIRAS has completed environmental fieldwork for the 2025 baseline sampling program.
Tony Sage, Executive Chairman of the Company, commented:
“The progress on the final BFS engineering and the completion of the 868 baseline sampling program represent a major milestone in unlocking the full potential of the Tanbreez Rare Earth Project. Our partnership with NIRAS ensures that both technical and environmental aspects are being addressed to the highest standards, reinforcing our commitment to responsible development.”
This final BFS phase includes:
• Completion of mine design and process plant engineering
• Tailings management and water treatment strategies
• Integration of environmental and regulatory inputs
• Preparation of documentation for submission to Greenland’s MLSA

Figure 1. Proposed plant and port site.
The engineering scope encompasses detailed design of the two open pit mining phases, including blasting and haulage logistics, crushing and magnetic separation circuits, slurry transport systems, and tailings deposition infrastructure at Lake Foster. It also includes port and haul road layouts, diesel power generation, and worker accommodation facilities. NIRAS is integrating hydrological modelling, dust dispersion controls, and closure planning into the final design to ensure long-term environmental compliance, operational efficiency, and alignment with Greenland’s regulatory framework.

Figure 2 – NIRAS engineers at the proposed Tanbreez port site 27/8/2025
Once completed, which is expected in the fourth quarter of 2025, the BFS will form the central component of the Tanbreez updated Exploitation License documentation, to be submitted to the Mineral License and Safety Authority (MLSA) of Greenland, in accordance with the Greenlandic Mineral Resources Act and the specific terms of the granted exploitation license MIN 2020-54.

Figure 3 – NIRAS team undertaking August 2025 baseline marine sampling
This submission will support the progression of the project towards final approval to commence potential commercial mining operations.

Figure 4 - NIRAS FS finalization team
Completion of 2025 Baseline Sampling Program
In parallel, Critical Metals Corp confirms that environmental fieldwork for the 2025 baseline sampling program has officially been completed. This program—coordinated by NIRAS ran through August 2025 and was designed to close spatial and seasonal gaps in the existing baseline dataset.
Key components of the sampling campaign included:
- Bergerhoff dust monitoring
- All-year freshwater sampling across 19 stations
- Sediment coring in Lake Foster and Kangerluarsuk Fjord
- Arctic char population update via electrofishing
- Intertidal sampling of mussels, bladderwrack, and sea scorpion

Figure 5 – NIRAS team undertaking baseline marine fauna sampling August 2025
These efforts support the Environmental Impact Assessment (EIA) and reinforce Tanbreez’s commitment to responsible development.
About NIRAS
With nearly 70 years of experience, NIRAS has grown from a Danish consultancy into an international leader in sustainable progress. Founded by visionary engineers Jørgen Kristian Nielsen and Konrad Rauschenberger in 1956, NIRAS’s early projects in Greenland laid the foundation for their expertise in resilient and innovative solutions. Their decentralized structure fosters local expertise, adaptability and collaboration across borders and disciplines, ensuring sustainable value creation for their clients and the communities they serve.
As a multidisciplinary consultancy company with more than 3,000 employees located in 62 offices across Europe, Africa, Asia, North, and South America, NIRAS work within multiple areas from processing plants and construction over energy, water, environment, and infrastructure to third world aid and urban planning. NIRAS have 8,000 ongoing projects in more than 140 countries and their trademark is the crosscutting approach, always grounded and tailored to achieve the best outcomes for their clients and communities.
About Tanbreez
The Tanbreez Rare Earth Project is one of the world’s largest hard rock rare earth elements (REE) deposits, located in southern Greenland near the town of Qaqortoq. The project is notable for its high concentration of heavy rare earth oxides (HREOs), which are critical for high-tech applications, clean energy, and defence industries. Unlike other major TREO deposits, Tanbreez contains very low levels of uranium and thorium, making it more environmentally and politically viable.
- Deposit Type: Kakortokite (a stratiform layered igneous rock rich in TREOs)
- Kakortokite Estimate: ~4.7 billion tonnes of REE-bearing mineralisation
- Heavy REE Content: ~27% of Total Rare Earth Oxides (TREO)
- Location: Near Qaqortoq, southern Greenland
- Target drilling: ongoing to achieve Measured and Indicated Mineral Resources
- Project Stage: advanced Bankable Feasibility Study phase
Kakortokite host may not always contain any economic mineralisation of TREO.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/88d85eb6-7ec7-4eb8-a7f1-9541d0ea1e07
https://www.globenewswire.com/NewsRoom/AttachmentNg/78882267-a354-4f9d-bfc5-904be7463263
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ee43546-681a-4bee-ab33-8753fe41123b
https://www.globenewswire.com/NewsRoom/AttachmentNg/4b7e57a1-6ec0-45eb-b5c2-1fe2fc557de3
https://www.globenewswire.com/NewsRoom/AttachmentNg/e76ca157-f762-463b-a9ef-4b68773af474
Keep reading...Show less
01 September
Critica Set to Produce First Rare Earths as Jupiter Project Progresses
Critica (ASX:CRI,OTC Pink:VTMLF) has delivered the first composite concentrate from its flagship Jupiter project to the Australian Nuclear Science and Technology Organisation (ANSTO) for independent leach testwork.
ANSTO will process the concentrate to produce mixed rare earth carbonate (MREC), while specialist consultancy Minutech will conduct hydrometallurgical programs to gauge processing routes.
Located in Yalgoo, Western Australia, Jupiter currently holds a global inferred resource of 1.8 billion tonnes at 1,700 parts per million (ppm) total rare earth oxides (TREO), including 520 million tonnes at 2,200 ppm TREO.
On August 13, Critica confirmed the project’s standing as Australia’s largest and highest-grade clay-hosted magnet rare earth oxide (MREO) inferred resource by both total tonnage and contained MREO.
According to the company, mineralisation at Jupiter can easily be upgraded by over 800 percent via two beneficiation steps, which “points to a materially smaller wet plant and lower capital and operating intensity.”
Additionally, Jupiter contains low uranium and thorium levels, which could ease permitting and international offtake.
“ANSTO's independent leach test program, alongside Minutech's, will define the most effective chemistry to produce Jupiter MREC and directly inform our pilot work and staged duties,” Deysel said in an August 26 release.
With a focus on four key magnet rare earths — namely neodymium, praseodymium, dysprosium and terbium — Critica aims to assist in the global energy transition. The company is also looking to support long-term demand from areas including the electric vehicle, wind turbine, medical and defence sectors.
“With infrastructure advantages and extensive additional targets across our tenure, Jupiter is shaping as a cornerstone of Australia’s rare earth supply chain," added Deysel.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
27 August
Ucore Strikes Rare Earth Offtake Deal With Critical Metals
Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF) has moved to shore up future supplies of heavy rare earths through a preliminary offtake deal with Critical Metals (NASDAQ:CRML).
The Halifax-based company announced Tuesday (August 26) it had signed a non-binding letter of intent with Critical Metals, which plans to develop the Tanbreez rare earth project in Southern Greenland.
Under the proposed 10 year arrangement, Critical Metals would deliver a rare earth carbonate or oxide product to Ucore, starting in 2027 or upon commercial production, whichever comes later.
The feedstock is slated for processing at Ucore’s Strategic Metals Complex in Louisiana, a facility backed by both the Pentagon and the state of Louisiana. Smaller volumes will be processed first at Ucore’s demonstration plant in Kingston.
“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for the production of rare earth permanent magnets,” Ucore Chief Executive Pat Ryan said in a statement. “Both Critical Metals Corp and Ucore share a vision to lessen China’s grip of the rare earth ecosystem in the West, and we look forward to our partnership.”
Critical Metals’ executive chairman Tony Sage also said the collaboration would help fill gaps in Western supply chains for strategic minerals.
“These materials are critical to a number of western defense and consumer applications and we look forward to teaming up with Ucore and their exceptional team to support the development of a robust supply chain in America that isn’t reliant on China,” he said.
Rare earth elements, particularly the heavy segment such as terbium and dysprosium, are crucial for high-performance magnets used in fighter jets, missiles, radar, electric vehicles and renewable energy systems.
China currently controls the vast majority of mining and separation capacity, leaving Western nations exposed to potential export restrictions and supply chain disruptions.
Incidentally, the offtake announcement comes weeks after Ucore recieved a US$18.4 million Phase 2 award from the US Department of Defense to scale up its Louisiana refining complex.
The project builds on an earlier US$4 million Phase 1 program in which the company successfully demonstrated the separation of terbium and dysprosium at its Ontario pilot facility.
In addition, the Pentagon funding supports the installation of the company’s proprietary RapidSX separation technology at commercial scale. Ucore said the award will culminate with the construction of a first commercial RapidSX machine at the Louisiana site.
Pentagon officials have repeatedly warned that China’s dominance in the sector poses a strategic vulnerability, and have stepped up efforts to seed alternative supply chains in North America.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
22 August
Top 5 Australian Mining Stocks This Week: Kaili Resources Shares Surge on Drilling Update
Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks listed on the ASX, starting with news in Australia's resource sector.
Various companies were on the move this week, with their focuses ranging from rare earths to oil and gas.
Making headlines in the sector was Peabody Energy (NYSE:BTU), which said it will not be purchasing Anglo American's (LSE:AAL,OTCQX:AAUKF) steelmaking coal portfolio, cancelling the US$3.78 billion deal.
Peabody made the decision after an "ignition event" at Anglo's Moranbah North mine in Queensland's Bowen Basin; in response, Anglo said the incident “does not constitute a material adverse change” under their agreements.
Elsewhere, Highfield Resources (ASX:HFR) said China Minmetals and its subsidiary have decided not to proceed with a proposed strategic transaction amounting to an approximately US$300 million equity subscription in Highfield.
In other news, Victory Metals (ASX:VTM) was chosen as the recipient of a Mineral Research Institute of Western Australia research grant, with the total amounting to AU$250,000. It will use the funds to pursue scandium oxide production.
Market and commodities price round-up
The S&P/ASX 200 (INDEXASX:XJO) had a record-breaking week, passing the 9,000 mark for the first time on Thursday (August 21). The index ended Friday (August 22) below that level at 8,973.8.
Gold demonstrated a 0.2 percent decrease in US dollars, going from US$3,336.30 per ounce on Monday (August 18) to US$3,329.49 by the close of Australian trading on Friday. The metal saw a significant increase in Australian dollars, going up 1.18 percent, from AU$5,126.49 to AU$5,187.26, over the same period of time.
Silver largely remained flat in US dollars, starting the week at US$38.03 per ounce and closing at US$38.01. In Australian dollars, the metal went from AU$58.43 to AU$59.22, a 1.35 percent increase.
Top ASX mining stocks this week
How did ASX mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Australian mining stocks below as the Investing News Network breaks down their operations and why these companies are up this week.
Stocks data for this article was retrieved at 4:00 p.m. AEST on Thursday using TradingView's stock screener and reflects price movements between Monday and Thursday. Only companies trading on the ASX with market capitalisations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Kaili Resources (ASX:KLR)
Weekly gain: 427.78 percent
Market cap: AU$159.19 million
Share price: AU$0.19
Kaili Resources is an explorer with an all-Australian asset portfolio.
It is currently focused on the advancement of its Limestone Coast rare earths projects in South Australia, alongside the pursuit of its gold, rare earths and base metal assets in Western Australia and the Northern Territory.
On August 15, Kaili received drilling approval for three tenements at its Limestone Coast projects, namely Lameroo, Karte and Coodalya. After opening the week at AU$0.036, the junior explorer turned heads with an 8,700 percent increase in its share price during trading on Monday, peaking at AU$3.15 around 3:30 p.m. AEST.
Trading was halted shortly after, by which time shares had pulled back to AU$1.08.
That day, the company addressed the spike in response to an ASX price query, saying that its only recent update is the approved drilling for Limestone. “(This) may have drawn investors’ interest to KLR in view of current market high interest in critical minerals,” Kaili states in its response to the ASX. A report by Livewire Markets notes that the ASX “declined to comment beyond what it has already publicly detailed” in its Monday query to Kaili.
Kaili recommenced trading on Thursday following a response to further inquiries from the ASX. While its share price pulled back over the period, it still ended the day up significantly from the start of the week.
2. iTech Minerals (ASX:ITM)
Weekly gain: 117.24 percent
Market cap: AU$12.3 million
Share price: AU$0.063
Founded in 2021, iTech Minerals' two main assets are the Eyre Peninsula graphite project in South Australia and the Reynolds Range copper-gold-lithium project in the Northern Territory.
On Tuesday (August 19), iTech identified antimony zones at Reynolds Range. The company reported two separate zones of up to 300 metres, with rock chip results including 30.6 percent antimony and 2.5 grams per tonne (g/t) gold.
The day before the announcement, iTech shares saw a spike in trading volume, prompting an ASX price query. The company responded on Tuesday morning, saying its only pending announcement was the Reynolds Range news.
On Friday, the company shared new geophysics targets at Reynolds Range, with a dipol-dipol induced-polarisation survey discovering a significant chargeability anomaly, and a rock chip sample at a separate zone returning grades of 15.4 percent g/t gold and 3.3 percent copper.
Shares of iTech peaked on Tuesday and Wednesday (August 20) with a close of AU$0.072.
3. TMK Energy (ASX:TMK)
Weekly gain: 50 percent
Market cap: AU$30.67 million
Share price: AU$0.003
TMK Energy is a gas exploration company with a focus on Mongolia.
Its flagship project is the Gurvantes XXXV project, an approximately 8,400 square kilometre coal seam gas exploration initiative in Mongolia’s South Gobi Basin. Six active coal mines are within its boundaries.
On Thursday, TMK announced that the pilot production well at Gurvantes has been completed and is currently undergoing final commissioning activities. Once it enters production, which the company said would happen in the coming days, it will bring the total number of online pilot production wells at the site to seven.
“With the help of additional production data acquired from LF-04, LF-05 and LF-06 since early 2025, we are gaining a better understanding of the reservoir and placing a renewed emphasis on the overall reservoir management plan with the objective of maximising both water and gas production in the near term and ultimately proving commerciality of the resource," CEO Dougal Ferguson commented in the company's press release.
Now that drilling operations have concluded, TMK outlined its next steps, including a search for project partners to co-fund the next development stage of Gurvantes XXXV. After closing at AU$0.002, shares of the company climbed mid-week, peaking at an AU$0.003 close on Wednesday and Thursday.
4. Latrobe Magnesium (ASX:LMG)
Weekly gain: 47.06 percent
Market cap: AU$71.13 million
Share price: AU$0.025
Latrobe Magnesium is a magnesium company known for developing what it claims is the world’s first-of-its-kind magnesium extraction production process combining hydrometallurgical and thermal reduction.
Its flagship asset is a portfolio of projects in Latrobe Valley, Victoria. This includes a Stage 1 demonstration magnesium plant, which is expected to start production later this year.
“In the Latrobe Valley, magnesium metal will be extracted from fly ash produced by brown coal power plants,” the company states on its website. “This low emission process produces other valuable by-products such as supplementary cementitious material (SCM), silica and iron oxide using almost 100 percent of the fly ash resource.”
On Monday, Latrobe said that the Environmental Protection Authority had updated and reissued its pilot project licence, with an extension granted until February 2027. This step will allow it to begin hydrometallurgical operations again, with the first magnesium oxide output coming after it achieves steady state operations.
Shares of the company rose following the Monday announcement, climbing from a Monday close of AU$0.021 to an AU$0.027 close on both Tuesday and Wednesday.
5. Sunrise Energy Metals (ASX:SRL)
Weekly gain: 44.53 percent
Market cap: AU$201.36 million
Share price: AU$1.915
Sunrise Energy Metals is a developer focused on the Sunrise battery materials project in New South Wales.
Sunrise hosts a nickel-cobalt-scandium deposit, which the company states is among the largest of its kind globally. The project includes the Syerston scandium project, planned as a smaller, standalone scandium extraction operation.
The Sunrise deposit’s scandium resource estimate currently stands at 60.3 million tonnes at 390 parts per million (ppm) scandium for 23,500 tonnes of contained scandium.
On July 28, the company released high-grade scandium assays from a drill campaign at Syerston, with results such as 11 meters at 635 ppm scandium from surface, including 6 meters at 788 ppm scandium from 4 meters.
On Thursday, Sunrise said shareholder Sam Riggall, director of philanthropic trust the JTM Foundation, had sold 180,000 shares on market to fund grants to Australian charities. The sale was split across Wednesday and Thursday.
”Mr. Riggall remains a committed long-term shareholder in the company and retains a direct and indirect ownership interest in over 2.5 million shares in (Sunrise Energy),” the Thursday announcement states.
After spiking Wednesday, shares of Sunrise moved even higher on Thursday and closed at AU$1.92.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
20 August
New Rare Earths Venture to Target High-grade Assets in US and Brazil
Privately owned Rare Earths Americas (REA) has formed in a bid to explore and develop high-grade rare earths assets in the US and Brazil, looking to consolidate supply chains for various domestic sectors.
The company, which raised AU$25 million in a private funding round, said it combines experienced operators and investors with “deep expertise across global mining, energy and critical materials.”
Included in the company's portfolio is the Foothills discovery, located in Georgia, US.
The site contains grades of up to 41.3 percent total rare earth oxides, including heavy rare earths crucial for high-performance magnets. REA has highlighted its strong logistics, low-cost power and streamlined path to permitting.
In Brazil, the Alpha and Constellation projects hold more than 1 billion metric tons of high-grade ionic clay rare earths mineralization, including dysprosium and terbium, which are essential for permanent magnets.
The Homer project, also located in Brazil, targets multiple carbonatite clusters with the potential for niobium discoveries in a region known for leading niobium mines.
“The rare earths market is undergoing a generational shift as the West races to secure its rare earths future,” said CEO Donald Swartz in a Monday (August 18) press release.
REA’s timing aligns with broader US efforts to reduce reliance on China, which currently controls nearly 70 percent of global rare earths processing and accounts for most heavy rare earths production.
In April, Beijing restricted shipments of seven rare earths to the US and other countries, prompting concern among automakers and defense contractors dependent on these materials.
The US government recently proposed a pricing support mechanism for domestic rare earths ventures in order to increase production and mitigate China’s influence.
Discussions last month, led by former White House Trade Advisor Peter Navarro and National Security Council official David Copley, included rare earths producers and major tech firms reliant on these critical minerals.
China’s dominance stems from billions of dollars invested in mining and processing since 2000, often with minimal environmental or safety oversight, allowing the country to produce rare earths at lower cost than western competitors.
The US response to the Asian nation's rare earths stranglehold has included efforts to develop domestic mine supply and build out refinement, processing and production capacity. American companies have also sought to secure alternative sources in Africa and Latin America, but investment and technology barriers remain significant.
Mountain Pass in California, the country’s only large-scale rare earths mine, produces bastnaesite carbonate, but relies heavily on foreign processing. MP Materials (NYSE:MP), the mine’s operator, posted a net loss of US$65.4 million in 2024, highlighting the challenge of competing with China’s low-cost production model.
REA’s launch positions it as a potential strategic player in this evolving landscape.
According to the company, the Foothills project offers a “streamlined permitting pathway” in the US, while the Alpha and Constellation projects in Brazil provide access to large-scale, high-grade heavy rare earths.
“With grade and strategic geography on our side, we intend to advance our rare earths projects to support the long-term supply of critical materials essential to domestic innovation,” Swartz added.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00