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Yahoo
19-06-2025
- 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
Herald Sun
19-06-2025
- 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
