RareX Wins Key Mining Lease for Flagship Cummins Range Critical Minerals Project

RareX Limited ( (AU:REE) ) has provided an update.

RareX Limited has secured a key Mining Lease for its 100%-owned Cummins Range Project in Western Australia, a multi-commodity critical minerals asset hosting rare earths, gallium, scandium and phosphate. The grant, considered one of the most complex approvals in the state, materially de-risks the project by confirming RareX’s statutory right to develop a mining operation and shifting remaining approvals to the operational and environmental domain. With tenure risk largely removed, the company plans to concentrate on metallurgical optimisation, process flowsheet design and value maximisation across multiple mineral streams, paving the way for detailed mine planning, financing discussions and potential strategic partnerships as it advances what it describes as Australia’s largest undeveloped rare earths project.

The most recent analyst rating on (AU:REE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on RareX Limited stock, see the AU:REE Stock Forecast page.

More about RareX Limited

RareX Limited is an Australian critical minerals company focused on hard-rock carbonatite deposits containing rare earth elements, gallium, niobium and scandium. Its exploration portfolio includes the Mt Mansbridge heavy rare earths project, the Khaleesi gallium-niobium project in the East Yilgarn, and near-mine targets at Cummins Range. The company’s main development asset is the mid-study Cummins Range rare earths and phosphate project in Western Australia, described as Australia’s largest undeveloped rare earths project and hosting magnet-grade rare earths, battery-grade phosphates and substantial gallium and scandium, alongside strategic investments in several other exploration companies.

Average Trading Volume: 6,474,984

Technical Sentiment Signal: Buy

Current Market Cap: A$29.56M

For an in-depth examination of REE stock, go to TipRanks’ Overview page.