Hastings Technology Metals’ Yangibana rare earths project is set to join Lynas Rare Earths as Western Australia’s second major producer of critical metals markets currently dominated by China. The Yangibana project 250 kilometres east of Carnarvon has been granted a $140 million loan from the Northern Australia Infrastructure Facility making it the first Australian rare…
The development of a new rare earths resource at Dubbo in New South Wales has taken a step forward with the completion of due diligence by a group of South Korean Investors. The investors, Cerritos Holdings Co., Ltd, Kamur Partners LLC and ACE Equity Partners LLC, completed their appraisal of the Australian Strategic Materials Limited…
Lynas Rare Earths is benefitting from the critical nature of its products to high technology products, reporting record June quarter sales revenue of $185.9 million and sales receipts of $192 million. The Western Australian producer reported sustained demand for Lynas Neodymium-Praseodymium (NdPr) products and strong market pricing as governments outside China seek to diversify supply…
Australian Strategic Materials (ASM) has kickstarted its Dubbo, NSW rare earths project with the signing of a $340.7 million ($US250m) framework agreement with a South Korean consortium. A consortium of South Korean Investors will receive 20 per cent of the equity in the holding company owner of the Dubbo project, with the partners planning a…
Iluka Resources has won Australian government backing for its proposal to build Australia’s first fully integrated rare earths refinery at its Eneabba monzanite deposit north of Perth. The company told investors that following a meeting with federal ministers in March, it had received a letter which indicated the government would look at ‘options for support’…
By Peter Roberts A patch of dirt in Dubbo, NSW and a lot of hard work are starting to pay off as a second Australian rare earths producer becomes a reality in the form of Australian Strategic Materials. In the past week ASM received firm commitments from sophisticated investors to raise $65 million to kick-start…
By Peter Roberts Australia’s ability to produce rare earths have been boosted in a controversial way with the news that a Chinese producer is allying itself with the company developing the Cummins Range Rare Earths Project in the East Kimberly region of Western Australia. China’s Shenghe Resources has signed a memorandum of understanding (MoU) with…
Lynas Rare Earths is to build a light rare earths separation plant in the United States which will process concentrates from the company’s cracking and leaching plant now under construction in Kalgoorlie. The plant will be subsidised by the US government under its Defence Production Act, recognising the company’s critical importance as the only large-scale…
Rare earths producer Lynas Corp has identified further light and heavy rare earths resources at depths previously not investigated below the main orebody at its Mt Weld mine in Western Australia. Lynas has successfully established two new bores to a depth of 100 and 106 metres below the current pit floor where it encountered ‘significant…
Rare earths producer Lynas Corp has ordered long lead time equipment for a new processing plant it is building at Kalgoorlie, a move forced on the company by troubles at its existing Malaysian processing plant. The Perth company operates a mine and concentration plant at Mt Weld in Western Australia for Neodymium, Praseodymium, Lanthanum, Cerium…
