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ARK Mines Ltd ( (AU:AHK) ) has shared an update.
Ark Mines Limited has secured a $4.5 million investment from the QIC Critical Minerals and Battery Technology Fund to advance its Sandy Mitchell Rare Earth and Heavy Mineral Project. This investment, which includes $4 million in up-front funding and a $500,000 equity investment, will accelerate the project’s development, with a focus on increasing the mineral resource and commencing production by late 2027. The funding aligns with Queensland’s strategy to strengthen domestic supply chains for critical minerals and is expected to create approximately 80 local jobs. This strategic partnership marks a significant step forward for Ark Mines in becoming a key supplier in the global clean energy supply chain.
More about ARK Mines Ltd
Ark Mines Limited is a company operating in the critical minerals industry, focusing on the development of rare earth and heavy mineral projects. The company’s primary project is the Sandy Mitchell Rare Earths Project located in North Queensland, Australia. Ark Mines aims to position itself as a leading supplier of rare earths to both domestic and international markets, aligning with the Queensland government’s strategy to enhance the critical minerals supply chain.
Average Trading Volume: 39,954
Technical Sentiment Signal: Hold
Current Market Cap: A$12.24M
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