RareX Managing Director Jeremy Robinson: Rare Earth Opportunities in Western Australia

RareX Managing Director Jeremy Robinson: Rare Earth Opportunities in Western Australiayoutu.be

RareX (ASX:REE) Managing Director Jeremy Robinson discussed the company’s drilling campaign at its 100 percent owned Cummins Range rare earths project.

Recent assays reveal interesting results with the discovery of a high-grade zone intersecting multiple mineralized areas. The low-phosphate conditions suggest the presence of bastnasite, a rare earth carbonate in high demand.

“This project has real size potential," Robinson emphasized. "We've raised the money. Our crew is about to start drilling, and we're going to make this project in the top three rare earth projects in Australia this year.”

The Australian government shows dedication to increasing its country’s global share of the rare earths market. Even though Australia has some of the largest rare earths reserves in the world, China dominates between 70 and 80 percent of the global market.

Both the US and Australia are pushing to secure long-term supply of rare earths in a stable jurisdiction.

“Our infrastructure is pretty well established," Robinson stated. "Western Australia is a very well-provisioned part of the world for mining and mining infrastructure. We operate mines in the Kimberley region, shipping out of established ports. No major infrastructure upgrades are required for our project. It's a very high-value, low-volume product. It will simply be our infrastructure site, which we’ll need to build.”

Robinson also noted, “Some of the world's largest mines are located here in Western Australia, one being the Cummins Range, which we're very much focused on. We've spent the last two years drilling and proving it up, and we’re proceeding with a very large drill program this year.”

The demand for rare earth metals is expected to continue, driven largely by the electric vehicle market. Robinson stated, “This year, we're looking at building our refinery somewhere in Western Australia to produce these rare earth oxides. We’re focused on building this project out. We are in a very good period for rare earth metals. The demand is growing due to magnetic properties of electric vehicles, wind turbines and general household electronics. So we're in a really good period for the next three to four years, and probably the rest of this decade in terms of rare earth metal pricing.”

Watch the full interview of RareX Managing Director Jeremy Robinson above.