Latest news with #EverestMetals
Yahoo
2 days ago
- Business
- Yahoo
Everest Metals gains DIBC membership to advance rubidium project in WA
Everest Metals has been granted membership in the US Defence Industrial Base Consortium (DIBC), enabling the company to advance its Mt Edon rubidium project in Western Australia (WA). Managed by Advanced Technology International on behalf of the US Department of Defence (DoD), the DIBC aims to strengthen the DoD's industrial base by fostering collaboration between the government and private sector entities. The approval provides Everest with opportunities for prototyping, access to commercial solutions and project development funding tailored for defence needs. This membership could also streamline contracting processes and potentially secure non-dilutive funding to expedite the development of the Mt Edon Project. Everest is actively aiming to establish a commercial pilot plant for the project by 2026. Everest Metals executive chairman and CEO Mark Caruso said: 'We are thrilled to join the DIBC, a testament to the strategic importance of our Mt Edon Rubidium Project. This approval opens doors to collaborate with the US Department of Defence, access non-dilutive funding, and advance our goal of establishing a commercial rubidium pilot plant. 'With rubidium's critical applications in defence and high-tech industries and forecast growing demand, Everest is well-positioned to address global supply constraints and meet growing demand for this extremely scarce mineral.' This initiative aligns with the strategic importance of rubidium in defence, aerospace, medical and high-tech industrial applications. With rubidium's classification as a critical mineral by the US, the project is poised to contribute to domestic production and reduce reliance on international supply chains. US President Donald Trump invoked emergency powers in March to boost domestic production of critical minerals, aiming to reduce the US' dependency on foreign sources, especially China. The executive order utilises the Defense Production Act to financially support the processing of critical minerals such as lithium and nickel, vital for electronics and electric vehicle batteries. "Everest Metals gains DIBC membership to advance rubidium project in WA" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
West Australian
3 days ago
- Business
- West Australian
Everest-US Defence partnership opens funding for WA rubidium play
Everest Metals has secured a seat at a high-level table after being accepted onto the United States Department of Defence's (DoD) Defence Industrial Base Consortium, thanks to its Mt Edon rubidium project in Western Australia's Mid West region. Consortium membership will support Everest's research to advance its high-grade Mt Edon rubidium processing technology as the company bids to become Australia's first rubidium supplier. The consortium is managed by US-based Advanced Technology International. Membership opens the door to prototyping opportunities, streamlined contracts and direct collaboration with US defence initiatives. Management is confident Everest will gain access to non-dilutive DoD funding through its membership, which would allow it to capitalise on a red-hot critical minerals market and future strategic US alliances. The company says the development will supercharge Mt Edon, where a maiden inferred resource of 3.6 million tonnes at 0.22 per cent rubidium oxide holds more than 7900t of the scarce critical mineral. The real kicker for Everest is not the resource, but its patented direct rubidium extraction (DRE) technology, which has a staggering 97 per cent recovery rate. The company believes it can refine its technology with partners Edith Cowan University and the CSIRO, through a commercial pilot plant planned for next year. Everest has grant applications in with the Minerals Research Institute of Western Australia, which, added to consortium funding, gives management the confidence to scale up its pilot plant vision while reducing any reliance on shareholder capital. Rubidium is fetching a hefty US$1170 (A$1810) per kilogram for carbonate and is a linchpin for defence, aerospace and high-tech applications, including in night vision imaging, atomic clocks and medical sedatives. With global demand projected to soar from US$4.46 billion (A$6.9B) in 2023 to US$7.2B by 2032 and China's grip on supply tightening, Everest's Mt Edon project could be perfectly timed to meet US calls for a secure, Western-aligned rubidium source. The project's granted mining lease in the Paynes Find Greenstone Belt, 420 kilometres northeast of Perth, means the company has cleared another operational hurdle. Everest says shallow pegmatites start from surface at Mt Edon and are primed for an open-pit mining scenario. With a high-grade resource, proven extraction technology and a direct line to US defence priority spending, Everest is shaping up as a critical minerals frontrunner. The company will now gear up for its pilot plant development and further testwork, as it sorts through an array of non-dilutive funding opportunities in the global critical minerals landscape. Is your ASX-listed company doing something interesting? Contact:
Herald Sun
3 days ago
- Business
- Herald Sun
US defence initiative helps Everest Metals unlock funding for Mt Edon rubidium project
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Everest Metals receives nod to join America's Defense Industrial Base Consortium initiative DIBC membership could help secure non-dilutive funding and strategic partnerships to advance its Mt Edon rubidium project This will in turn support the company's plans to build a pilot processing plant for the project in WA's Mid West region Special Report: The strategic importance of Everest Metals' Mt Edon rubidium project in WA's Mid West region has allowed it to secure entry into a US Department of Defense initiative that could accelerate project development. The approval of the company's application to join the Defense Industrial Base Consortium (DIBC) – an initiative that supports research, development, and prototyping to advance technologies critical to national defence – enables collaboration with the US DoD. This key milestone could pave the way for Everest Metals (ASX:EMC) to unlock non-dilutive funding and strategic partnerships to advance Mt Edon. Grant funding will enable the company to scale-up Mt Edon to a commercial pilot plant during 2026 to capitalise on the strategic importance of rubidium. Rubidium is classified as a critical mineral in the US due to its essential uses in defence such as night vision imaging and radiation detector, aerospace, propulsion, medical and other high-tech applications. This includes recent research highlighting its potential for chemical storage in hydrogen batteries as well as its suitability to replace caesium, resources of which are steadily dwindling. Despite this, global production of rubidium is significantly lower than that of other alkali metals, resulting in a production cost of ~US$1170/kg, significantly higher than the cost of producing lithium, sodium or potassium. 'We are thrilled to join the DIBC, a testament to the strategic importance of our Mt Edon rubidium project,' executive chairman Mark Caruso said. 'This approval opens doors to collaborate with the US Department of Defence, access non-dilutive funding, and advance our goal of establishing a commercial rubidium pilot plant. 'With rubidium's critical applications in defence and high-tech industries and forecast growing demand, Everest is well-positioned to address global supply constraints and meet growing demand for this extremely scarce mineral.' Mt Edon project The Mt Edon project is 5km southwest of Paynes Find, a former gold rush settlement in WA's Mid West region which is considered highly prospective for lithium, caesium, tantalum and rubidium mineralisation. It is contained within granted mining lease M59/714, which is in the southern portion of the Paynes Find Greenstone Belt that is known to host swarms of pegmatites. The project already hosts an inferred resource of 3.6Mt grading 0.22% rubidium, or more than 7900t of contained rubidium, with a higher grade zone of 1.3Mt at 0.33% rubidium. EMC recently delivered an engineering scoping study for rubidium extraction that leverages its patent pending direct rubidium extraction tech, which is capable of achieving up to 97% rubidium recovery. The process involves mining and beneficiating to concentrate rubidium-bearing minerals ore, followed by roasting, leaching and crystallisation to produce rubidium chloride. It had also reached an agreement in May 2025 with Australia's national science agency CSIRO to conduct advanced geochemical and mineralogical studies at Mt Edon. This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as US defence initiative helps Everest Metals unlock funding for Mt Edon rubidium project
West Australian
03-06-2025
- Business
- West Australian
Everest ticks off extraction study to start Aussie rubidium industry
Everest Metals and Edith Cowan University (ECU) have achieved 97 per cent rubidium extraction in a joint engineering scoping study for Everest's Mt Edon project in Western Australia. The study is a key step in Everest's plans to pioneer a new rubidium industry in Australia. Everest plans to inject Australia onto the world rubidium stage by unlocking the nation's entry into a new and valuable critical mineral processing industry. The engineering study was completed at ECU's Mineral Recovery Research Centre, which Everest asked to help develop an innovative rubidium extraction process. The direct extraction process aims to extract the critical mineral in a more cost-effective and environmentally friendly manner from ore mined at the company's Mt Edon critical mineral project in WA's Mid West region. Demand for the rare mineral used in high-tech industries, such as defence, aerospace and communications, is expected to lift significantly. Research by global market research company Market Research Future projects global market usage to grow from US$4.46 billion (A$6.91B) in 2023 to US$7.2B by 2032 using a compound annual growth rate of 5.48 per cent. The study achieved exceptional results from phase three beneficiation and leaching testwork, which produced the outstanding 97 per cent recovery rate for rubidium oxide from Mt Edon's primary ore. Everest has elected to lock in a standard patent to protect its new-age technology, having realised the effectiveness of its extraction process. It jumped on a provisional patent for the process earlier this year. The company says the results confirm the project's potential commercial and technical viability, based on its plans for a processing plant capable of producing 750-1000 tonnes per annum rubidium chloride. Further studies are required to nail down an optimised process. Management believes the project can prosper from broad geopolitical initiatives, such as United States President Donald Trump's April executive order calling for an investigation into the national security risks associated with its dependence on imported processed critical minerals. The executive order outlines an urgent need to develop transparent, secure and US-aligned supply chains for required critical minerals. Rubidium has many high-technology applications and is listed as one of 35 critical minerals by several countries, including the US and Japan. Everest sees the current price of rubidium carbonate, near US$1170 per kilogram, as providing the project with strong potential to develop into a profitable operation. Downstream applications are fuelling rapid growth with an increase in demand for rubidium salts. With the engineering study complete, Everest has work underway to increase the efficiency of its extraction technology and reduce costs. During testwork, data from samples indicated the beneficiation process enhanced rubidium liberation and therefore its availability for downstream extraction, removing gangue minerals. Beneficiation led to higher leaching efficiency and improved outcomes, resulting in the 97 per cent recovery levels. The innovative extraction method is part of a process involving mining, beneficiation to concentrate the rubidium-bearing minerals, followed by roasting-leaching-crystallisation to produce rubidium chloride. Further analysis is required to evaluate the technical and economic risks for scalability and operational stability. The company plans to run additional bench-scale and pilot-scale testwork to validate its process before building a full-scale plant. Everest has an agreement with the CSIRO to enhance its understanding of rubidium, caesium and lithium mineralogy. The increased knowledge of the critical minerals is expected to improve the company's processing methods and overall recovery rates. Everest applied to the Minerals Research Institute of WA for funding under its METS Innovation program. The application sought matched funding to support upcoming metallurgical and purification testwork. The company expects to receive word on its application this month. It is also exploring grant funding opportunities and potential future funding options through domestic and international critical mineral initiatives to help scale up to a pilot plant next year. Mt Edon is 420 kilometres northeast of Perth and 5km southwest of the State's former gold rush settlement of Paynes Find. The project has an inferred mineral resource of 3.6 million tonnes grading 0.22 per cent rubidium oxide and 0.07 per cent lithium oxide. Management says the resource contains a world-class component of 1.3Mt at 0.33 per cent rubidium oxide and 0.07 per cent lithium oxide. The high-grade zone contains 56 per cent of the total contained rubidium tonnes at Mt Edon, which has 7900t of the rare critical mineral. Everest says its initial resource is based on drilling along 400 metres of strike within a 1.2km-long pegmatite corridor on a 192.4-hectare granted mining lease. Drilling was conducted to a vertical depth of 140m below surface, with 61 reverse circulation drill holes plunged in over 2779m to determine the estimated resource. Everest holds a 51 per cent stake in Mt Edon with the potential to take over the entire operation in a joint venture farm-in agreement with private company Entelechy Resources. The company is aiming big: It is looking to develop a fledgling industry locally, supply a growing market globally, and support the nation's defence needs with a reliable rubidium supply. Is your ASX-listed company doing something interesting? Contact:
West Australian
27-05-2025
- Business
- West Australian
Everest spins drill bit in search for gold northeast of Southern Cross
Everest Metals has started spinning the drill bit at its Mt Dimer Taipan project in the hunt for further gold and silver at the site, 150 kilometres northwest of Kalgoorlie. The reverse circulation drilling program will test four high-priority targets identified through advanced satellite imagery and geochemical anomalies. Targets were defined from the integration of interpreted geochemical anomalies and alteration zones outlined by high-resolution satellite imagery. The company aims to expand the existing mineralisation at Mt Dimer Taipan, which remains open to the south and at depth, by combining historical data with advanced exploration methods. The project contains an existing mineral resource of 722,000 tonnes grading 2.1 grams per tonne (g/t) gold for 48,545 ounces. Management submitted a mining proposal and mine closure plan for the project last August to the Western Australian Department of Energy, Mines, Industry Regulation and Safety and anticipates receiving approval within the next two months. Everest has completed extensive work on its mining proposal, including a geotechnical study, hydrogeological modelling, baseline environmental study and flora and fauna surveys. The department requested further information in January and Everest submitted updated proposal and closure plans on March 12. The company also applied for a 45-million-litres-per-annum groundwater licence and plans to drill a water borehole to a depth of 120m to support its upcoming activities and future mining operations at site. When the mining proposal is approved, Everest expects to launch into mining activities. Mt Dimer Taipan's mining proposal involves a cutback of the existing pit to extract ore laterally and from the pit's base. Everest plans to process the ore nearby. Given today's sky-high gold price, the company believes it has a terrific opportunity to charge into the task of turning Mt Dimer Taipan into a profitable mining operation, utilising a toll-treatment agreement with one of the nearby mills. Negotiations with nearby plant operators are ongoing. Everest completed a geochemical soil sampling program in 2021 to verify historical geochemical results, structures, shear zones and lithological contacts previously mapped by the Geological Survey of WA, which were interpreted from magnetic inferred structures. The program outlined three distinct geochemical anomalies in part of the company's ground, returning assay values up to 430 parts per billion (ppb) gold and 420 parts per million arsenic. Four anomalous zones with gold values exceeding 100ppb were identified and two are considered higher-priority targets for testing. Everest's recently processed satellite data identified iron oxide and alteration mineral signatures relevant to orogenic gold and banded-iron formation-style exploration. Analysis techniques were applied to identify hydrothermal alteration minerals linked to orogenic gold systems. An alteration mineral intensity map was generated, highlighting alteration zones in the central part of the licence area, with characteristics similar to those at Mt Dimer Taipan and nearby gold mining districts. Everest acquired Mt Dimer Taipan in 2020, along with an additional exploration tenement to the west of the project. A range of rotary air-blast drilling, reverse circulation and diamond drilling identified mineralisation at the project. Former owner Taipan Resources mined the project in the mid-1990s, hauling out 84,000t at about 4.61g/t for 5933 ounces of gold. Several small players later leached the stockpiles for gold and silver, with moderate success. With gold and silver prices remaining strong, Everest will be hoping for a mountain of positive news from this drilling program. Is your ASX-listed company doing something interesting? Contact:
