An announcement from RareX Limited ( (AU:REE) ) is now available.
RareX Limited has formed a consortium with Iluka Resources to apply for the Mrima Hill project in Kenya, which is rich in rare earth, niobium, phosphate, and manganese. The consortium aims to establish a Special Purpose Vehicle (SPV) for the project’s development, with RareX leading the de-risking efforts. If successful, the project could significantly enhance RareX’s position in the rare earth market, with potential offtake agreements to supply Iluka’s Eneabba refinery in Australia. The proposal includes collaboration with Curtin University to transfer skills to local Kenyans, supporting long-term project operations.
More about RareX Limited
RareX Limited is a company operating in the mining industry, focusing on the exploration and development of rare earth elements. The company is involved in projects that target rare earth, niobium, phosphate, and manganese resources, with a market focus on enhancing its portfolio through strategic partnerships and development projects.
YTD Price Performance: 260.0%
Average Trading Volume: 13,546,836
Technical Sentiment Signal: Sell
Current Market Cap: A$28.83M
Learn more about REE stock on TipRanks’ Stock Analysis page.