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The latest announcement is out from Pure Resources Limited ( (AU:PR1) ).
Pure Resources has signed a Strategic Partnership Projects Agreement with UT Battelle, operator of the U.S. Department of Energy’s Oak Ridge National Laboratory, to develop an economical process to recover heavy rare earth elements and yttrium from industrial andradite garnet sourced from its Garnet Hills Project. The research program, running to March 2027 and capped at US$100,000 in funding from Pure, will test feedstock selection, digestion, and separation protocols, potentially yielding new intellectual property while preserving U.S. government licence rights.
The partnership is intended to create a second value stream from Garnet Hills by layering rare earth recovery on top of Pure’s existing MIL-SPEC abrasive strategy, strengthening its mine-to-market positioning in the U.S. critical materials ecosystem. Management frames the deal as a way to extend the company further downstream into defence-related applications without materially altering its expenditure profile, with the goal of enhancing returns and strategic relevance in critical mineral supply chains.
More about Pure Resources Limited
Pure Resources Limited is an ASX-listed Australian resources company focused on developing its 100%-owned Garnet Hills Project, which produces industrial garnet and associated critical minerals. The company is targeting downstream applications in the U.S. defence and advanced manufacturing sectors, including MIL-SPEC abrasives and potential rare earths supply for high-tech and electrification supply chains.
Average Trading Volume: 213,478
Technical Sentiment Signal: Buy
Current Market Cap: A$32.39M
See more data about PR1 stock on TipRanks’ Stock Analysis page.