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July 11, 2024
Summit Minerals Limited (ASX: SUM) (“Summit” or the “Company”) is pleased to invite shareholders and investors to a webinar on Tuesday, 16 July 2024 at 11:00am AEST / 9:00am AWST, where Summit’s Managing Director, Gower He and Chief Geologist, Stuart Peterson will provide a Company update.
Details of the event are as follows:
Event: SUM Investor Webinar
Presenters: Managing Director, Gower He and Chief Geologist, Stuart Peterson
Time: Tuesday, 16 July 2024 at 11:00am AEST / 9:00am AWST
Where: Zoom Webinar, details to be provided upon registration. To register your interest for the webinar, please click through to the link below.
Registration link:
https://janemorganmanagement-au.zoom.us/webinar/register/WN_4pAIB5lSTL25B-DBSlWbFw
After registering your interest, you will receive a confirmation email with information about joining the webinar. Participants will be able to submit questions via the Panel throughout the presentation, given this is a pre-recorded webinar we highly encourage attendees to send through questions via email beforehand to jm@janemorganmanagement.com.au.
This announcement has been approved by the Board of Directors.
Click here for the full ASX Release
This article includes content from Summit 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.
23 June
Thick zones of HM mineralisation observed across Douala HM Project
DY6 Metals Ltd (ASX: DY6, “DY6” or the “Company”) is pleased to announce the initial visual estimations from the reconnaissance exploration program at the Douala Basin HMS Project, Cameroon. Desktop studies incorporating detailed geological mapping, geophysics, and known mineral occurrences, were used to define initial, high priority targets for ground- truthing. The reconnaissance programme, which consisted of hand auger and channel sampling, was successful in identifying high estimated concentrations of heavy mineral (HM) mineralisation across all the six tenements that make up the project. Additionally, the Company’s consultants have observed the presence of natural rutile grains within panned concentrates.
HIGHLIGHTS
- The Company’s reconnaissance auger and channel sampling programme has been completed at the Douala Basin HMS Project
- Reconnaissance sampling undertaken across the 6 Douala Basin tenements has identified thick zones of high estimated concentrations of heavy minerals (HM) as well as natural rutile
- Work at the Douala Basin Project followed up on historical HM occurrences identified by previous Eramet drilling, as well as priority areas identified through the Company’s internal reviews
- Samples collected from the reconnaissance program are due to be submitted for laboratory analysis in the coming weeks, with results expected in the September quarter
- At Douala Basin, exploration will transition to a detailed campaign of auger drilling
Samples collected from this initial exploration programme are currently being prepped for dispatch to the Company’s laboratory for analysis in South Africa, with results expected in the September quarter.
Technical Consultant, Cliff Fitzhenry, commented:“While the Company’s primary focus is on the Central Rutile Project, where we have recently reported the presence of wide-spread residual natural rutile mineralisation, we believe that the Douala Basin HMS project has significant potential. The reconnaissance programme has over the last few weeks demonstrated the potential of the area, with the identification of high concentrations of visible heavy mineral sands across the project tenements through a mixture of auger, channel, and soil sampling work. Pleasingly, we have also observed natural rutile grains at Douala Basin.
We look forward to the assay results of the reconnaissance programme in the coming months.”
Reconnaissance exploration at the Douala Basin HMS Project
As announced on 5 June 2025, the Company commenced reconnaissance auger and grab sampling programmes at the Central Rutile and Douala Basin HMS projects, Cameroon. At the Douala Basin project, the Company has completed 12 hand auger drill holes (refer Figure 1), collecting 53 samples in the process, as well as collected 38 channel samples from 11 surfaces for analysis (refer Tables 1 & 2).
Table 1: Reconnaissance auger drill holes completed to date at the Douala Basin HMS Project showing maximum visual estimates of HM% from panned concentrate of the 1m samples.
Cautionary Statement:
The Company cautions that, with respect to any visual mineralisation indicators, visual observations and estimates of mineral abundance are uncertain in nature and should not be taken as a substitute or proxy for appropriate laboratory analysis. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assay results from the drilling and sampling programmes will be required to understand the grade and extent of mineralisation. Initial assay results are expected in August 2025.
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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19 June
Critical Metals Secures US$120 Million Loan LOI for Tanbreez Rare Earths Project
Critical Metals
(NASDAQ:CRML) got a boost on Monday (June 16), landing a letter of interest
(LOI) for a non-dilutive US$120 million funding package from the Export-Import Bank of the US (EXIM).
The funds would be used to advance its Tanbreez rare earths project in Southern Greenland.
Touted as one of the world’s largest rare earths deposits, Tanbreez is expected to produce up to 85,000 metric tons of rare earth material annually, with more than 27 percent classified as heavy rare earth elements.
“This is a tremendous milestone for Critical Metals Corp which highlights to the rare earths supply chain, Western Governments and investors that Tanbreez is a world-class asset that will provide mission-critical rare earth metals to counter China’s continued dominance,” said Critical Metals CEO and Chairman Tony Sage.
The funding would support pre-production, technical studies and early mining activities. EXIM’s financing falls under its new Supply Chain Resiliency Initiative and comes with a 15 year repayment term.
Critical Metals acquired
a controlling stake in Tanbreez in June 2024 in a transaction valued at up to US$211 million. It expects the asset to require US$290 million in capital expenditure to advance to initial commercial production.
The US$120 million from EXIM would support key early stage work at Tanbreez, including technical and economic studies, pre-production activities and the start of mining operations.
The company is aiming to complete a definitive feasibility study by late 2025.
Critical Metals also plans to invest an additional US$10 million in exploration this year, giving it the option to increase its ownership in the project to 92.5 percent through the acquisition of a further 50.5 percent stake.
“We are now razor focused to put Tanbreez into production as soon as possible," said Sage
.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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18 June
Eclipse confirms high-value, coarse-grained rare earths at Grønnedal, backed by an efficient processing pathway
Eclipse Metals Limited (ASX: EPM) (Eclipse or the Company) is pleased to confirm that its Grønnedal rare earth elements (REE) Project in southwest Greenland continues to solidify its position as a strategically important and globally significant source of REE. The Project metrics are supported by robust scientific data and including benchmarked mineralogical results.
Project Highlights:
- Dominant synchysite, bastnasite and monazite mineralogy - ideal for Nd-Pr permanent magnet feedstock.
- Coarse-grain size of key REE minerals with up to 54% liberation, supporting low- cost, conventional flotation pathways.
- The defined resource of 89Mt represents approximately 6% of the carbonatite body, with extensive growth potential.
- Niobium ~4,670ppm, Yttrium ~777ppm, and HREE credits enhance the Project’s overall economics.
- Tier-1 Greenland location with deep-water access and no uranium permitting constraints.
- Mineralogical studies provide a strong foundation for upcoming metallurgical and process design work.
A recent mineralogical study completed by SGS Canada has confirmed the presence of high-value rare earth minerals, including Synchysite, Bastnasite and Monazite – highly sought-after hosts of magnet rare earth elements (Nd, Pr, Dy, Tb).
The recent mineralogical assessment returned significantly elevated niobium grades, ranging from <40ppm to 4,670ppm, and yttrium values ranging from 39ppm to 777ppm (refer Appendix 1), highlighting the polymetallic nature of the mineralisation and its potential for enhanced downstream value capture.
Both elements are increasingly sought after for superconductors, defence alloys, and advanced electronics, further elevating Grønnedal’s importance within the global critical minerals ecosystem.
Importantly, the test work confirms that the mineral assemblage is highly amenable to conventional processing, aligning with proven flowsheets successfully applied at other globally recognised REE operations, including Mountain Pass (USA) and Mount Weld (Australia).
Commenting on the SGS mineralogical results, Eclipse Metals Executive Chairman Carl Popal said:
“The Grønnedal REE complex continues to deliver compelling results that reinforce its emerging position as a globally strategic rare earths project. With 89 million tonnes now defined, the combination of scale, favourable mineralogy, coarse grain size and demonstrated processability sets Grønnedal apart as one of the few Western rare earth deposits with a clear pathway toward scalable development.
“The polymetallic nature of the mineralisation, combined with high liberation rates confirmed through advanced mineralogical studies, supports the potential for efficient recovery using well- established processing routes, further strengthening Grønnedal’s relevance to EU and North American critical minerals supply chains.
“Eclipse remains committed to responsible and transparent development in Greenland while advancing the project with a disciplined focus on value creation and global supply chain diversification,”
Click here for the full ASX Release
This article includes content from Eclipse 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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17 June
Expert: Can a United Front Loosen China’s Rare Earths and Critical Minerals Hold?
As western automakers reel from yet another round of Chinese export restrictions on rare earths, the urgency to create a counterweight to Beijing’s dominance over global mineral supply chains is reaching new heights.
At the center of the conversation is a persistent and disruptive strategy: Chinese state-backed firms flood global markets with critical minerals, push prices below sustainable production levels and wipe out foreign competition.
In response, experts like Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, are calling for a fundamentally different playbook.
In her view, it's time for nations to coordinate their market power and engage in collective deterrence.
“If countries continue to operate independently instead of collectively, China will retain its dominant position because no single nation has enough market leverage on its own,” Baskaran argues in her recent commentary.
The scale of disruption is difficult to overstate. In just three years, global prices for core energy transition minerals have collapsed. Between May 2022 and May 2025, prices for cobalt fell nearly 60 percent. Nickel prices plunged 73 percent, while lithium prices cratered by almost 87 percent. In each case, price collapses coincided with waves of supply from China or Chinese-backed operations, forcing western producers to shut down or defer investment.
Baskaran further explains that these price dynamics aren’t accidental.
Chinese companies — which often receive subsidies, low-interest loans or direct state support — can afford to operate at near-zero or even negative profit margins, squeezing out foreign firms that need to show a return on capital.
When it comes to rare earths, with 90 percent of refining under its control, China can suppress prices long enough to bankrupt competition, then raise prices once dominance is assured.
For Baskaran, the closure of Jervois Global's (ASX:JRV,OTC Pink:JRVMQ) cobalt mine in Idaho and BHP's (ASX:BHP,NYSE:BHP,LSE:BHP)Nickel West project in Australia illustrate how fragile western efforts are when exposed to this kind of strategic economic pressure.
Tariffs alone won’t cut it
To date, responses from the US have largely focused on domestic industrial policy — subsidies, tax credits and isolated tariffs. But given the country’s relatively small share of global minerals demand — just 1.7 percent for rare earths, for example — US actions alone are unlikely to move the needle.
“While tariffs can be an effective instrument, a single country acting alone is unlikely to make a significant difference for mineral prices given the small size of their offtake markets,” Baskaran stresses.
Instead, she suggests that any meaningful response must involve coordinated policy across a coalition of major consuming nations. The proposed solution is a shared “anchor market” — a bloc of like-minded countries that harmonize tariffs, coordinate investment protections and implement shared procurement rules.
If executed well, she believes this approach could flip the current dynamic, placing reciprocal pressure on China while supporting market conditions where western producers can survive.
“A unified market of this scale would be capable of challenging China’s dominance and providing the West with meaningful strategic leverage,” she adds in her piece.
Such a coalition is not hypothetical. The Minerals Security Partnership (MSP), an initiative involving 14 countries and the EU, already exists to foster cooperation on supply chain resilience.
With a combined market of nearly 2.8 billion people — double the population of China — Baskaran states that the MSP represents a latent force that, if fully activated, could counterbalance Chinese leverage.
Leverage through scale and policy
The power of an anchor market lies in its ability to send long-term price signals and create investor certainty.
Gradual import quotas, for instance, could mandate that a growing share of mineral inputs — starting at 10 percent and scaling to 60 percent over a decade — come from within anchor market countries.
Baskaran explains that unlike tax incentives, which are temporary and non-binding, quotas offer a durable guarantee that demand will materialize, helping de-risk large-scale mineral investments.
Equally important is investment protection. Chinese firms continue to buy up critical minerals assets abroad, even in a weak price environment, ensuring that they control future supply. If this trend continues, any market-based response from the west may simply enrich Chinese shareholders in the long run.
Australia’s key role and the G7’s moment for market unity
Baskaran highlights that, among potential partners, Australia stands out.
With rich deposits of 31 critical minerals and advanced mining capabilities, it is essential to any serious diversification plan. Mining already contributes over 13 percent to its GDP, compared to just over 1 percent in the US.
Politically, Australia has taken a hardline stance on Chinese influence, from banning Huawei in 2018 to imposing university research safeguards and building a state-backed mineral reserve to reduce foreign dependency.
The G7 summit in Canada offers a unique moment to align policy. All G7 countries have identified critical minerals security as a priority. By formalizing the anchor market concept, Baskaran argues that the G7 nations and their partners could finally mount a credible economic counteroffensive: “The anchor market can shift leverage away from Beijing and toward a more resilient, rules-based minerals ecosystem.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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16 June
Burgum Endorses Colosseum Rare Earths Project in Continued Critical Minerals Push
The Trump administration is fast tracking development of Dateline Resources’ (ASX:DTR,OTC Pink:DTREF) Colosseum rare earths project in California as part of its push to boost domestic critical minerals supply.
In a recent interview, Secretary of the Interior Doug Burgum highlighted the project as a priority under the government's critical minerals strategy, stating that the US has "to get back in the game in a serious way around critical minerals.”
For his part, US President Donald Trump has called the project "America’s second rare earths mine.” He first announced Colosseum's approval in an April 21 Truth Social post, listing it as a weekly achievement.
The Colosseum project sits in the Walker Lane Trend in East San Bernardino County, California, only 10 kilometers north of MP Materials’ (NYSE:MP) Mountain Pass mine, the only operating rare earths mine in the US.
Mountain Pass is also the highest-grade rare earths mine in the world.
According to Burgum, the endorsement from the government stems from the US’ push to restart domestic rare earths production and reduce dependence on other countries such as China.
Currently, China remains the biggest rare earths producer by far, producing 270,000 metric tons in 2024. That’s about 70 percent of the total production for the year, which was recorded at 390,000 metric tons.
The ongoing trade war has created tensions between the US and China, raising questions about supply chain security.
Some relief was seen last week — the BBC reported that China has agreed to supply US companies with magnets and rare earths as part of Trump’s deal with Xi Jinping, president of China. In return, the US said it will walk back its threats to revoke the visas of Chinese nationals at US colleges and universities.
Trump addressed the arrangement via a June 11 Truth Social update, stating that he has “always been good” with including Chinese students in colleges and universities.
Dateline has a green light to explore and extract rare earths from Colosseum, as well as gold.
“We have seen growing interest out of the US, particularly after recent milestones at Colosseum,” the Sydney Morning Herald quotes Dateline Managing Director Stephen Baghdadi as saying.
Dateline said in May that it had started the process to uplist to the OTCQB. Should the OTCQB listing go through, the company will still continue to meet its ASX disclosure requirements.
The same month, the company said it had begun preparations for a rare earths-focused drill program at Colosseum, and would complete it alongside a planned gold feasibility study for the site.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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12 June
Australian Strategic Reports Bump in Rare Earths Sales Enquiries
Australian Strategic Materials (ASX:ASM,OTC Pink:ASMMF) has confirmed the sale of neodymium and praseodymium (NdPr) metal and neodymium-iron-boron (NdFeB) alloy to its key partners.
Supply came from the company's critical metals facility in South Korea's Ochang Foreign Investment Zone. Located 115 kilometres south of Seoul, the plant opened in May 2022 and is Australian Strategic's flagship metallisation plant.
According to Australian Strategic, it is the only ASX-listed company capable of producing rare earth metals and alloys commercially. The plant is one of the few facilities outside of China capable of producing the high-tech metals and alloys needed for clean energy technologies, advanced manufacturing, defence and aerospace.
Australian Strategic shared that recent work carried out at the plant, together with ongoing trade and geopolitical uncertainty, has resulted in numerous sales enquiries and customer discussions.
“As rare earth supply chains face increasing vulnerability due to China’s export restrictions, ASM is continuing to develop existing and potential customer relationships, positioned to deliver an alternative supply to the rest of world," the company explains in a press release issued on June 6.
Its customers include big and small permanent magnet manufacturers in South Korea, the US and Europe
Australian Strategic also revealed that it will use existing stock and oxides from an Australian supplier to meet demand, and is currently in discussions with Canada-based Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF) for more oxide supply.
In Australia, rare earths have increasingly been in demand, with the government looking to secure rare earths independence using various tactics. These include project investments, strategic partnerships and tax incentives.
Australian Strategic received AU$5 million for its Dubbo rare earths project under the Australian government’s International Partnerships in Critical Minerals Program in October 2024.
As of 2025, Australia ranks fourth in both rare earths reserves and output.
Recently, Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF), the world’s only producer of separated rare earths outside of China, became the first producer of heavy rare earths outside China after starting production at its Malaysian facility.
Australian Strategic will continue to work with relevant partners and update the market as further sales occur.
“In recent months, ASM’s position as one of the leading ex-China producers of NdPr metal and NdFeB alloy has been cemented,” Managing Director and CEO Rowena Smith commented.
“Having navigated rigorous validation processes with existing and potential customers, proving our capability and product quality, we are now in a position to leverage our growing experience and reputation in the industry.”
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.
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