West High Yield Resources Provides an Update on Permit Application for Its Record Ridge Magnesium Project

West High Yield Resources Provides an Update on Permit Application for Its Record Ridge Magnesium Project

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to provide an update on the progress of its application for a mining permit for its Record Ridge Industrial Mineral Mine ("RRIMM" or the "Project") magnesium deposit located 10 kilometers southwest of Rossland, British Columbia.

First Provincial Mining Development Review Committee Meeting introduced the technical review process

On June 27,2023, a meeting (the "MDRC Meeting") with the Provincial Mining Development Review Committee (the "MDRC") was held in Rossland, British Columbia, where the technical review process for the Project was introduced.

At the MDRC Meeting, which was run and facilitated by British Columbia's Ministry of Energy, Mines and Low Carbon Innovation, the MDRC initiated the technical review of the Company's permit application process and allowed for discussions regarding the further engagement of interested parties as the permit process and Project unfolds. Participants at the MDRC Meeting included government officials, technical experts, and First Nations groups and Indigenous peoples.

At the MDRC Meeting, the Company outlined a number of the proposed Project mitigation strategies to address concerns and interests that have been expressed through its public engagement to date. These included:

  • substituting the use of explosives with mechanized equipment for ore extraction;
  • implementing enclosed environments for crushing equipment to effectively manage dust and noise; and
  • exploring the option with the British Columbia Ministry of Transportation and Infrastructure of utilizing a trucking route along Highway 22 to North Port, Washington, rather than passing through the City of Rossland.

"We appreciate the community members who provided feedback at our open houses in May, and we have responded to show our commitment to working together to make this the best possible project," said Barry Baim, Director and Corporate Secretary of West High Yield. "We look forward to ongoing conversations to demonstrate the positive benefits of the Project for the First Nations and Indigenous people and community."

Engagement with Indigenous Nations

West High Yield continues it engagements with First Nations groups and Indigenous peoples that reside in the Project territory, and discussions with the Osoyoos Indian Band continue to advance.

"We appreciate the constructive approach West High Yield has taken, and we look forward to working with the Company and the B.C. Government to ensure that any decisions going forward reflect an approach that is sustainable and includes the Osoyoos Band," said Clarence Louie, Chief of the Osoyoos Indian Band.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium, silica, and nickel deposit using green processing techniques to minimize waste and CO2 emissions.

The Company's Record Ridge magnesium deposit is located 10 kilometres southwest of Rossland, British Columbia and has approximately 10.6 million tonnes of contained magnesium based on an independently produced preliminary economic assessment technical report prepared by SRK in accordance with the National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com

Barry Baim, Director and Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172313

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West High Yield  Resources Ltd. Announces Second Tranche Closing of Private Placement and Debt for Shares Transaction

West High Yield Resources Ltd. Announces Second Tranche Closing of Private Placement and Debt for Shares Transaction

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, further to its news releases of August 29, 2024 and September 26, 2024, it has closed a second tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units"). The Company is announces that it has it has entered into debt settlement agreements (the "Debt Settlement Agreements") with four (4) lenders of the Company (the "Creditors") to settle outstanding debts owed to them.

Offering

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West High Yield  Resources Ltd. Announces Amended Permit Submission

West High Yield Resources Ltd. Announces Amended Permit Submission

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce that, further to its news release dated August 29, 2024, the Company had a productive forward-focused meeting with the British Columbia Ministry of Energy, Mines and Low Carbon Innovation (the "EMLI") on September 4, 2024 (the "EMLI Meeting"). During this meeting, the Company outlined its revised permit application (the "Amended Application") for carrying out the extraction and production of critical minerals (the "RRIMM Project") at its Record Ridge Industrial Mineral Mine (the "RRIMM"), which included a reduction in the proposed tonnage output to fall under the threshold set by the British Columbia Environmental Assessment Office ("EAO") for reviewable projects for Mineral mines.

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West High Yield  Resources Ltd. Announces Mine Permit Update, Corporate Update, and Private Placement Offering

West High Yield Resources Ltd. Announces Mine Permit Update, Corporate Update, and Private Placement Offering

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") announces that, further to the Company's news release dated August 15, 2024, it met with Ministry of Energy, Mines and Low Carbon Innovation (the "EMLI") on August 26, 2024 (the "EMLI Meeting") to continue discussions regarding the permit process for carrying out the extraction and production of critical minerals (the "RRIMM Project") at its Record Ridge Industrial Mineral Mine (the "RRIMM") at a reduced throughput. The Company also confirms the commencement of a private placement offering (the "Offering").

Mine Permit Update

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West High Yield  Resources Ltd. Announces Closing of Private Placement

West High Yield Resources Ltd. Announces Closing of Private Placement

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is announces that, further to its news releases dated July 9, 2024 and August 9, 2024, it is closing its previously announced private placement offering (the "Offering") of units (the "Units").

The Company confirms that it issued a total of 435,076 Units for total gross proceeds of $143,575.05 under the Offering. Each Unit consisted of one (1) Common share of the Company (each, a "Common Share") and one half (1/2) of one (1) Common Share purchase warrant (each, a "Warrant"). Each Warrant, together with CAD$0.45, entitles the holder thereof to acquire one (1) additional Common Share for eighteen (18) months from each Offering closing date. The Company's news release of August 9, 2024 incorrectly noted that each Unit consisted of one (1) Common Share and one (1) Warrant, and shall be considered corrected by the information contained in this news release.

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West High Yield  Resources Ltd. Outlines Next Steps for the Record Ridge Magnesium Project Mine Permit

West High Yield Resources Ltd. Outlines Next Steps for the Record Ridge Magnesium Project Mine Permit

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") announces the next steps in the mining permit process for the Company's Record Ridge Industrial Mineral Mine project (the "Project").

The Company received notification from the British Columbia Environmental Assessment Office (the "EAO") that it has now determined the Project is subject to environmental assessment thresholds applicable to mineral mines rather than industrial mineral projects. This occurred despite the Project having been advancing in the regulatory process, with the knowledge of EAO, for years on the understanding and assumption that was not the case.

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Australian money on top of business chart.

Queensland Opens Applications for Ninth Round of Collaborative Exploration Initiative

Queensland has opened applications for the ninth round of its Collaborative Exploration Initiative (CEI).

A total of AU$5 million in funding has been allotted to support exploration companies looking for new critical minerals deposits in the state. Each explorer can apply for maximum funding of AU$250,000.

According to a September 25 press release, priority will be given to those focused on critical minerals that are needed for clean energy innovations, such as solar panels, wind turbines and electric vehicle batteries.

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US Rare Earth and Critical Mineral Supply Security Significantly Boosted as Energy Fuels Closes Acquisition of Australia's Base Resources

US Rare Earth and Critical Mineral Supply Security Significantly Boosted as Energy Fuels Closes Acquisition of Australia's Base Resources

  • Energy Fuels is restoring essential U.S. critical mineral supply chains and processing capabilities that are key to clean energy, economic security, and national defense.
  • Acquisition of Base Resources secures the world-class Toliara Project in Madagascar , which Energy Fuels believes is the best critical mineral development project in the world.
  • The Toliara Project is a new large-scale and low-cost source of rare earth minerals that Energy Fuels plans to develop and process into advanced rare earth products at the Company's existing facility in Utah .
  • Rare earths are key ingredients in various clean energy technologies, including electric vehicles (EVs), Plug-In Hybrid Electric Vehicles (PHEVs), and direct-drive wind energy, along with critical national defense technologies.
  • Acquisition positions Energy Fuels to become a globally significant producer of titanium and zirconium minerals in the future, while also maintaining its current position as a leading U.S. producer of uranium.
  • Acquisition also secures Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating the Kwale Project, a world-class heavy mineral sands operation in Africa .

 Denver-based Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), an industry leader in the U.S. production of uranium and rare earth elements (" REE "), today announced that it has completed the acquisition of Base Resources Limited (" Base "), an established heavy mineral sands (" HMS ") and critical mineral company, headquartered in Perth, Australia in consideration of the issuance of Energy Fuels shares totaling approximately US$178 .4 million in value 1 . The financial terms and details of the transaction can be found here .

"With Energy Fuels' acquisition of Base Resources and its Toliara Project in Madagascar , we have now acquired the raw materials that, when developed, will enable us to become one of the world's leading suppliers of advanced rare earth products and titanium and zirconium minerals, while also maintaining our current position as a leading producer of uranium in the United States ," said Mark Chalmers , President and CEO of Energy Fuels Inc.

Chalmers continued: "We have been putting together the missing pieces of the REE supply chain over the past two years, as we create a large-scale and low-cost critical mineral company based in the United States that produces uranium, rare earth elements, vanadium and soon medical isotopes on American soil, along with titanium and zirconium minerals at our mines in the Southern Hemishere. The 'common thread' connecting these products is that they are produced from, or associated with, ores that contain uranium, an integral part of our story over many years. We are able to process these ores at our facility in Utah and recover these elements in addition to the contained uranium."

The Base acquisition is one of the most important pieces in Energy Fuels' REE plan, as the development of the Toliara Project is expected to greatly increase Energy Fuels' supply of raw materials and help the Company control its internal supply chain and costs. "We are working to bring rare earth processing capabilities back to the United States , while also mining and processing to the highest global standards for protection of human health, human rights and the environment," Chalmers remarked. "This is great news for America's clean energy, economic, and national security."

Energy Fuels has now assembled a world-class and low-cost REE and critical mineral supply chain, where a suite of HMS projects in the Southern Hemisphere are expected to be developed in the coming years and produce large quantities of REE-bearing mineral product (" Monazite ") from Base's Toliara Project in Madagascar , the Company's 100% owned Bahia Project in Brazil , and the Company's planned interest in the Donald Project joint venture (" JV ") in Australia for which a joint venture agreement was recently entered into with Astron Corporation Limited. Monazite contains the minerals "monazite" and "xenotime," which have excellent grades and distributions of both "light" and "heavy" REEs.

The Company plans to develop and import Monazite from these HMS projects (and potentially others) into the United States where it will be processed into advanced REE products at the Company's White Mesa Mill, located near Blanding, Utah (the " Mill "). Earlier this year, Energy Fuels demonstrated its ability to process Monazite and refine the material into separated neodymium-praseodymium (" NdPr ") at commercial scale. Monazite also contains material quantities of natural uranium, which Energy Fuels plans to recover for sale to nuclear utilities who will process it further to be used as fuel to produce carbon-free electricity.

REEs are used in a wide variety of clean energy and advanced technologies, including EVs, PHEVs, direct-drive wind energy, magnets, and a number of other energy transition and defense-related technologies. Over the next 2 to 4 years, the Company plans to develop and put the Toliara, Bahia, and Donald projects into production, which have the combined ability to produce up to 43,000 metric tons (" tonnes ") of Monazite per year. The Monazite produced from these projects, along with Monazite that may be acquired from other parties, is expected to provide sufficient raw materials for Energy Fuels to produce roughly 4,000 – 6,000 tonnes of separated NdPr per year, along with roughly 200 – 300 tonnes of separated dysprosium (" Dy ") and terbium (" Tb ") per year. Energy Fuels is currently in the process of designing and licensing the expansion of its REE separation capabilities at the Mill. Commissioning of the expansion is expected to roughly coincide with the timing of when these mines complete development and begin production of Monazite.

Once developed, Energy Fuels' HMS projects are also expected to produce significant quantities of traditional HMS product lines, including titanium and zirconium minerals, which are expected to generate significant additional cash flow for the Company. As a result, Energy Fuels also expects to become a significant global supplier of, not only REEs, but also titanium and zirconium minerals. At the same time, the Company is currently ramping-up uranium production at its mines and the Mill in the United States and expects to maintain its position as a leading U.S. uranium producer.

The Toliara Project is considered by the Company to be one of the best HMS and critical mineral development projects in the world, due to the high-grade and high-quality of the titanium, zirconium and REE minerals, and its long mine life. The definitive feasibility study for titanium and zirconium minerals, along with the prefeasibility study for the addition of the Monazite stream, showing attractive project economics is available here . The Toliara and Donald Projects are currently in the development phase and the Bahia project is currently in the exploration and permitting phase. In addition, the Toliara Project is subject to negotiation of fiscal terms with the Madagascar government and the receipt of certain Madagascar government approvals and actions before a current suspension on activities at the project will be lifted and development may continue.

Chalmers concluded: "I am also honored and excited to welcome Base's highly successful management and employees to the Energy Fuels' team, which I am confident will elevate our competitive advantages from day one. A key benefit to Energy Fuels from this acquisition is that Base brings to the Company an experienced and highly regarded management and operations team with a proven track record of safe, efficient, and profitable operations at heavy mineral sands operations in Africa . I would also like to welcome Mr. Michael Stirzaker to Energy Fuels' Board of Directors. Mr. Stirzaker was Base's Non-Executive Chair, and his many years of experience in mining finance and investment will be a valuable addition to the Company."

About Energy Fuels

Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS, vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in situ recovery uranium projects in the western United States . The Company also owns the White Mesa Mill in Utah , which is the only fully licensed and operating conventional uranium processing facility in the United States . At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar , the Bahia Project in Brazil , and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado , near Denver , with its heavy mineral sands operations managed from Perth, Australia . For more information on all we do, please visit http://www.energyfuels.com .

Note 1 : The transaction value is US$178,438,295 , which is based on the issuance of 31,920,983 common shares of Energy Fuels and assuming a share price of US$5.59 (the closing share price for Energy Fuels on the NYSE American as of October 1, 2024 ).

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation that the Toliara, Bahia and Donald Projects will be successfully developed; any expectation as to production levels or timing or duration of production from the Toliara Project or any of the Company's other mines or projects; any expectations as to costs of production at the Toliara Project, the Mill or any of the Company's mines or other projects;   any expectations as to future cash flows; any expectation that any production at the Toliara Project or Mill will be world or globally competitive; any expectation that the acquisition may position Energy Fuels to become a globally significant producer of titanium and zirconium minerals; any expectation that the Company will be successful in acquiring any additional sources of Monazite; any expectation that Energy Fuels will be successful in designing and licensing the expansion of REE separation capabilities at the Mill; any expectation that Energy Fuels will be successful in agreeing to acceptable fiscal terms with the Government of Madagascar or in achieving and maintaining sufficient fiscal and legal stability; any expectation that the current suspension relating to the Toliara Project will be lifted in the near future or at all; any expectation that the Company will successfully continue to operate to the highest global standards for the protection of human health, human rights and the environment; and any expectation that the Toliara Project will become a world-class heavy mineral sands project. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition from other producers; public opinion; government and political actions; the failure of the Government of Madagascar to agree fiscal terms or provide the approvals necessary to achieve sufficient fiscal and legal stability on acceptable terms and conditions or at all; the failure of the current suspension affecting the Toliara Project to be lifted on a timely basis or at all; the failure of the Company to provide or obtain the necessary financing required to develop any or all of its Projects; market factors, including future demand for rare earth elements; the ability of the Mill to be able to separate radium or other radioisotopes at reasonable costs or at all; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

Energy Fuels Inc., a US-based uranium and rare earth elements producer. (CNW Group/Energy Fuels Inc.)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/us-rare-earth-and-critical-mineral-supply-security-significantly-boosted-as-energy-fuels-closes-acquisition-of-australias-base-resources-302265274.html

SOURCE Energy Fuels Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/02/c9175.html

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Update Regarding the Penco Module Permitting Process

Update Regarding the Penco Module Permitting Process

Aclara Resources Inc. ("Aclara" or "Company") (TSX:ARA) informs that the evaluation process of the Penco Module's Environmental Impact Assessment ("EIA") continues and has now formally received from the Environmental Service Assessment ("SEA") the consolidated report with the observations and questions ("ICSARA") received from the different agencies involved in the evaluation process

The Company is diligently working to file its response addressing questions and observations received by the end of Q1, 2025. The Company is committed to working with the SEA throughout the assessment and review process.

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Aclara's Penco Module included in Chile's strategic Industrial Strengthening Plan for the Biobío region

Aclara's Penco Module included in Chile's strategic Industrial Strengthening Plan for the Biobío region

Aclara Resources Inc. ("Aclara" or "Company") (TSX:ARA) is pleased to announce that the Chilean government has unveiled a comprehensive "Industrial Strengthening Plan" for the Biobío region. This plan highlights the Penco Module as one of the key projects selected to bolster the region's future economic growth

The Industrial Strengthening Plan aims to revitalize the Biobío economic landscape, which has faced challenges due to slow economic activity and lack of consistent new investments over the past two decades. Key objectives include accelerating private investment and enhancing the capabilities of institutions responsible for investment approvals. Aclara's Penco Module is among 25 large-scale projects featured, representing a combined potential investment of US$ 6.8 billion and the creation of up to 5,000 jobs during their operational phases, significantly advancing regional development.

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Federal Court of Australia Approves Transformational Acquisition of Base Resources

Federal Court of Australia Approves Transformational Acquisition of Base Resources

Combination expected to close on October 2, 2024

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in uranium and rare earth elements (" REE ") production for the energy transition, is pleased to announce that the Federal Court of Australia (the " Court ") has today made orders approving the proposed acquisition of Base Resources Limited (" Base ") by Energy Fuels by way of a scheme of arrangement under Australia's Corporations Act (the " Scheme ").

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Banner saying "BHP Xplor."

BHP Opens Applications for 2025 Xplor Critical Minerals Accelerator Program

Commodities giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP) said in a press release last week that it has started accepting applications for Xplor 2025, the third edition of its critical minerals accelerator program.

"Once again, the program is seeking visionary teams focused on uncovering new sources of critical minerals crucial for a sustainable future," BHP said about Xplor, which is intended for early stage explorers.

Participants receive multiple benefits, such up to US$500,000 in equity-free funding, mentorship and the chance to network with a range of industry experts for technical, business and operational development support.

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