Latest news with #Tanbreez
News.com.au
18-06-2025
- Business
- News.com.au
Resources Top 5: Lithium Universe takes up challenge of recycling spent solar panels
Lithium Universe is securing exclusive licensing rights to Microwave Joule Heating Technology A US$120m LOI from EXIM will assist in developing the Tanbreez REE project Gold and antimony have been identified in data from historical drilling and rock chips at Falchion prospect Your standout small cap resources stocks for Wednesday, June 18, 2025 Lithium Universe (ASX:LU7) The increasing global focus on reducing carbon emissions and limiting fossil fuel use by adopting renewable energy sources, including solar power, generates news on a daily basis but little attention is paid to what happens to the spent solar panels and the valuable metals they contain. It makes plenty of sense in the quest for a cleaner, greener world that more attention is paid to address the issue of waste from spent panels. Panels have a life of 25-30 years and the industry will increasingly face the growing challenge of managing solar panel waste and recovering valuable materials. One company taking up the challenge is Lithium Universe, which has executed a binding agreement to acquire the global rights to a patented photovoltaic solar panel recycling technology. This has been greeted positively by investors with LU7 shares doubling to 1.2c before easing back to 1c at the close, a 66.67% increase on the pre-trading halt close. LU7 will acquire Australian-incorporated holding company New Age Minerals to secure exclusive licensing rights to Microwave Joule Heating Technology (MJHT) under an agreement with Macquarie University, which developed the technology. MJHT uses microwave technology to selectively heat silicon to soften the EVA encapsulant in solar panels, enabling easy delamination and potential recovery of valuable materials at room temperature. This avoids the need for extreme heat of up to 1400 degrees C that's typically required to separate materials like glass and silicon as well as the use of costly hazardous chemicals such as nitric acid, sulphuric acid and hydrogen fluoride used in traditional processes. Adding interest for Lithium Universe (ASX:LU7), delamination enables selective separation of materials without the need for mechanical crushing, which often results in cross-contaminated material and lower recovery rates. It is also particularly effective for the recovery of silver as it preserves the silver contacts embedded within the cell layers, enabling nearly complete extraction. This is hugely important as growing demand for silver in industrial uses has meant that the market now faces supply shortfalls, which leads to significant price increases. 'I am thrilled about the acquisition of Macquarie University's Microwave Joule Heating Technology and the opportunity to potentially extract critical metals such as silver from solar panel recycling,' executive chairman Iggy Tan said. 'The need for effective PV recycling has never been greater, with only 15% of panels currently being recycled. 'The mass accumulation of solar panel waste in landfills is a growing problem, as valuable critical metals like silver, silicon, gallium and indium are left behind, contributing to both resource depletion and environmental harm. 'Microwave technology offers a promising solution to these challenges, enabling higher recovery rates and more sustainable recycling processes. 'We firmly believe that this technology represents the future of solar panel waste management. 'We are eager to collaborate with the Macquarie team to develop a more efficient and cost-effective recycling process.' Currently, just 15% of used panels are recycled – with the rest accumulating in landfills – due to complex processes, high-temperature furnaces, toxic chemicals and poor recovery yields required for traditional processes. This is concerning as the International Energy Agency has flagged that global waste PV modules will amount to 1.7-8Mt cumulatively by 2030 and 60-78Mt cumulatively by 2050. Panels can contain harmful materials like cadmium and lead, which may leak into the ground and water when dumped in landfills. Recycling panels enables the recovery of valuable minerals such as silver, silicon, gallium and indium while cutting down on pollution. European Lithium (ASX:EUR) A US$120 million letter of interest from the Export-Import Bank of the United States has been received by Critical Metals Corp to assist in developing the Tanbreez rare earths project in Greenland. As the largest shareholder in Critical Metals with a stake of around 63%, European Lithium has welcomed the LOI as have shareholders, who sent shares to a high of 6.9c, a 57% increase on the previous EUR close. EUR closed at 6.4c, an increase of 45.45% on the pre-trading halt finish, with almost 40m changing hands. 'This is a huge milestone for the Tanbreez project. The flow-on effect to European Lithium is enormous,' said EUR's executive chairman Tony Sage. 'As of close of Nasdaq trading yesterday , the company's shareholding in Critical Metals was valued at approximately A$305 million.' Tanbreez, which is one of the world's largest rare earth deposits, hosts elevated concentrations of high-value magnet rare earth oxides including neodymium, praseodymium, dysprosium and terbium, which are significantly more valuable than light rare earths. The EXIM funding proposal highlights the strategic importance of the Tanbreez project in bolstering Western supply chains for critical minerals, particularly rare earth elements. EXIM is the official export credit agency of the United States, offering financing tools including loans, guarantees and insurance to facilitate international trade to strengthen the US economy and support jobs across the country. This funding, if it proceeds, is expected to be used to develop the project, and European Lithium stands to benefit substantially via its shareholding in Critical Metals. The proposed package has a 15-year term and is subject to key development milestones including permitting, feasibility studies and environmental assessments. In order for the LOI to be converted to a binding financing agreement, EXIM will need to complete due diligence investigations. iTech Minerals (ASX:ITM) Gold and antimony have been identified by iTech Minerals in data from historical drilling and rock chips at Falchion prospect of its Reynolds Range project in the NT, prompting a 41% jump in shares to a high of 3.8c before closing up 14.81% at 3.1c. Previous exploration at Reynolds Range in the 1990s was conducted primarily by Poseidon Gold, Exodus Minerals, North Flinders Mines, Normandy and Newmont. Historical drill holes at Falchion were assessed for gold but not routinely analysed for antimony. In a review of data, ITM has revealed historical mineralisation over a strike of 400m and this is open to the east. Notable results include: 22m at 2.20g/t gold and 2.3% antimony and 8m at 1.3g/t Au including 2m at 12.35g/t Au and 5.4% Sb; 24m at 2.75g/t Au; 10m at 1.29g/t Au; and 7m at 1.4g/t Au. A review of the controls on gold and antimony mineralisation has identified multiple prospective structures in the surrounding region and this new geological interpretation allows for expanded gold prospectivity at Falchion and surrounding prospects. iTech Minerals (ASX:ITM) has identified more than 18km of prospective structures coincident with a regional 6.5km-long antimony in lag soil anomaly. 'A review of historical drilling at the Falchion gold-antimony prospect has identified up to 400m of mineralised strike just 1.4km from the 800m-long Sabre gold antimony prospect to the east,' managing director Mike Schwarz said. 'Importantly the Falchion prospect remains open at depth and to the east. 'Up to 18km of prospective structures have been identified in the region based on similarities to the Falchion and Sabre prospects.' Mapping and sampling of the newly identified prospective structures is planned to help define targets with potential for economic mineralisation. Drilling is expected to begin in the second half of 2025. Warriedar Resources (ASX:WA8) Visible gold has been encountered by Warriedar Resources in a diamond drill hole at Ricciardo gold-antimony deposit within the flagship Golden Range project with subsequent assays returning 2m at 116.3 g/t gold from 151m, including 0.2m at 1,148 g/t. The results from the Ardmore end of the project in WA's Murchison region saw shares hit a new two-year high of 13.5c, an increase of 17.39%. This represents a key development in the exploration of Ricciardo as it is the first time visible gold has been returned in Warriedar's drilling and demonstrates the potential to host significant free-milling gold. Two diamond drill rigs have been onsite at Golden Range, drilling at the Windinne Well and M1 deposits while an RC rig started drilling at Ricciardo earlier this week, marking the start of the Ricciardo fast-tracked program. Stage 1 of this program involves drilling 105 holes for about 29,000m, using four rigs concurrently. 'The identification of visible gold is always an exciting development in exploration. However, in this case the primary excitement is in what it might actually represent for Ricciardo moving forward,' Warriedar managing director and CEO Amanda Buckingham said. 'The potential existence of significant zones of high-grade, free-milling material within primary mineralisation at Ricciardo would be a further game-changer for its development.' NewPeak Metals (ASX:NPM) In welcoming progress made by Lakes Blue Energy with its gas supply strategy in Victoria's Gippsland region, NewPeak Metals reached 1.9c, up 46.15% on the previous close, and closed at 1.8c. NewPeak is the largest shareholder in Lakes with a stake of around 16.3%. Lakes is undertaking a fully underwritten institutional placement with firm commitments received to raise about $6.5m, subject to reinstatement to trading on the ASX. It has been approved to relist on or about June 24, 2025, and is also moving toward drilling the Wombat-5 well in the Gippsland basin, close to existing gas pipeline infrastructure. Lakes has received consent from the Victorian State Minister for Energy and Resources to drill the appraisal well in Petroleum Retention Lease 2, subject to the agreeing and payment of rehabilitation bonds. A drill rig supply agreement has been entered into, with an estimated spudding date of the week of July 21, 2025. The well is budgeted at $7.5m and an independent assessment of the properties of the reservoir suggests target rates of up to ~10TJ/day are achievable. NewPeak said it remained supportive of Lakes' strategy in the Gippsland Basin and looked forward to Lakes progressing towards drilling Wombat-5, which had potential to provide additional supply into the Australian East Coast domestic gas market from as early as 2026.
News.com.au
18-06-2025
- Business
- News.com.au
Break it Down: EUR welcomes US$120m LOI for Tanbreez rare earth development
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at the latest from European Lithium (ASX:EUR),who is the largest shareholder of Critical Metals Corp. Critical Metals' Tanbreez project boasts one of the largest rare earth deposits in the world, and the company has just been the recipient of a US$120 letter of interest from the Export-Import Bank of the United States to assist in its development. Tune in to hear all about it. While European Lithium is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: EUR welcomes US$120m LOI for Tanbreez rare earth development
Yahoo
16-06-2025
- Business
- Yahoo
Critical Metals Corp Secures US$120,000,000 LOI for a 15-Year Term Loan From the US Federal Government Bank (EXIM Bank) for the Development of its Tanbreez Rare Earth Project in Greenland
Non-dilutive funding package expected to be sufficient to enable the Tanbreez Project to complete pre-production activities and commence mining NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) ('Critical Metals Corp' or the 'Company'), a leading critical minerals mining company, today announced that it has received a Letter of Interest from the Export-Import Bank of the United States (EXIM), for a total non-dilutive funding package of $120 million. This funding package from the U.S's official export credit agency is expected to be used to develop the Tanbreez Project, one of the world's largest rare earth deposits located in Greenland. Based on preliminary information submitted by Critical Metals Corp for the Tanbreez Project, EXIM will consider financing up to $120 million of the project's costs with a repayment term of 15 years under EXIM's new Supply Chain Resiliency Initiative (SCRI). The amount of funding is expected to be sufficient for Critical Metals Corp to complete necessary technical and economic studies, pre-production activities, and begin mining at the Tanbreez Project. The Company expects that the Tanbreez Project will require $290 million in capital expenditure to bring it to initial commercial production. In its initial commercial production phase, the Company expects that the Tanbreez Project will be capable of producing up to 85,000 metric tons of rare earth material annually. 'This is a tremendous milestone for Critical Metals Corp which highlights to the rare earths supply chain, Western Governments and investors that Tanbreez is a world-class asset that will provide mission-critical rare earth metals to counter China's continued dominance,' said Tony Sage, CEO and Chairman of Critical Metals Corp. 'The Company appreciates the support of EXIM Bank and the US Federal Government as well as our Greenland partners in this major achievement. We are now razor focused to put Tanbreez into production as soon as possible.' In addition to continuing to progress its verification, de-risk the asset, and prepare for additional pre-production activities, including additional drilling, Critical Metals Corp expects to complete a definitive feasibility study by the end of 2025, which is expected to include important data, such as volumes and timeline estimates. In addition, the Company expects to invest $10 million in exploration expenses in Tanbreez in 2025 to have the option to acquire an additional 50.5% of the asset, bringing its total ownership to 92.5%. The proposed funding package may be eligible for special consideration under Section 402 of EXIM's 2019 reauthorization, which directs EXIM to take steps to mitigate the competitive impact of export support provided by the People's Republic of China and other covered countries and/or to advance the comparative leadership of the United States in Transformational Export Areas. The SCRI program is under The China and Transformational Exports Program (CTEP), which is an EXIM program established to help U.S. exporters compete with Chinese companies and ensure U.S. leadership in emerging technologies. Through CTEP, U.S. companies can benefit from reduced fees, extended repayment terms, and other tailored policies. About Critical Metals Corp. Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean. Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world. For more information, please visit About the Export-Import Bank of the United States The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at Cautionary Note Regarding Forward Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target,' 'designed to' or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the 'Risk Factors' section in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Critical Metals Corp. Investor Relations: ir@ Media: pr@ 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
Yahoo
15-06-2025
- Business
- Yahoo
Exclusive-US Export-Import Bank considers $120 million loan for Greenland rare earths project
By Ernest Scheyder (Reuters) -Critical Metals Corp has received a letter of interest from the U.S. Export-Import Bank (EXIM) for a loan worth up to $120 million to fund the company's Tanbreez rare earths mine in Greenland, in what would be the Trump administration's first overseas investment in a mining project. The loan, if approved, would boost U.S. access to minerals increasingly at the center of global economic trade and help offset the country's reliance on market leader China. It also comes after President Donald Trump openly mused earlier this year about acquiring the Danish island territory, an overture that has been repeatedly rejected. In a letter dated June 12 and reviewed by Reuters, New York-based Critical Metals has met initial requirements to apply for the $120 million EXIM loan and, if approved, would have a 15-year repayment term, longer than the company likely would have with private financing. The project would have to be "well-capitalized with sufficient equity from strategic investors" to receive the loan, the letter said. EXIM, which acts as the U.S. government's export credit agency, said in the letter that Critical Metals qualifies for a loan program designed to support companies that compete with China. The Tanbreez project is expected to cost $290 million and the EXIM funds would be used to fund technical work and get the mine to initial production by 2026. Once fully operational, the mine is expected to produce 85,000 metric tons per year of a rare earths concentrate and two minor metals. "This funding package is expected to unlock significant value for our project and our stakeholders," said Tony Sage, the company's CEO. Representatives for EXIM were not immediately available to comment. The move is the latest in a series of supportive actions by Washington toward the Tanbreez deposit and Greenland's mining sector. Reuters reported in January that former President Joe Biden's administration had successfully lobbied privately held Tanbreez Mining not to sell to a Chinese developer and instead sell to Critical Metals. Biden officials were visiting Nuuk as recently as last November trying to woo additional private investment in the island. Trump sent Vice President JD Vance to the island in March. The island's mining sector has developed slowly in recent years, hindered by limited investor interest, bureaucratic challenges and environmental concerns. Currently, only two small mines are in operation. Rare earths have strong magnetic properties that make them critical to high-tech industries ranging from electric vehicles to missile systems. Their necessity has given rise to intense competition as Western countries try to lessen their dependence on China's near-total control of their extraction and processing. Beijing in April put export restrictions on rare earths as part of its trade spat with Trump. The two countries earlier this month reached a truce, although Beijing's control of the sector has exacerbated the West's over-reliance and sparked a global hunt for fresh supplies. Despite the loan potential, Critical Metals would still have to either build a processing facility or find an existing site with spare capacity. The company told Reuters that its goal is to process the material inside the U.S., a goal the EXIM loan would make more achievable. Last year, Critical Metals had applied for funding to develop a processing facility from the U.S. Department of Defense, but the review process stalled ahead of Trump's January inauguration. For the EXIM loan's additional funding requirements, Critical Metals said it is considering offtake agreements, royalty streams and funding from other U.S. governmental agencies. Critical Metals told Reuters earlier this year that it has held supply talks with defense contractor Lockheed Martin, among others. Critical Metals' 10th-largest investor is brokerage firm Cantor Fitzgerald, which was formerly led by Howard Lutnick before he joined Trump's cabinet as secretary of the U.S. Commerce Department. Sage told Reuters in January he had never met or talked to Lutnick, but acknowledged Cantor's investment was a positive for his company. EXIM last year extended a letter of interest to Perpetua Resources for a loan worth up to $1.8 billion for its antimony and gold mine in Idaho. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
15-06-2025
- Business
- Reuters
Exclusive: US Export-Import Bank considers $120 million loan for Greenland rare earths project
June 15 (Reuters) - Critical Metals Corp (CRML.O), opens new tab has received a letter of interest from the U.S. Export-Import Bank (EXIM) for a loan worth up to $120 million to fund the company's Tanbreez rare earths mine in Greenland, in what would be the Trump administration's first overseas investment in a mining project. The loan, if approved, would boost U.S. access to minerals increasingly at the center of global economic trade and help offset the country's reliance on market leader China. It also comes after President Donald Trump openly mused earlier this year about acquiring the Danish island territory, an overture that has been repeatedly rejected. In a letter dated June 12 and reviewed by Reuters, New York-based Critical Metals has met initial requirements to apply for the $120 million EXIM loan and, if approved, would have a 15-year repayment term, longer than the company likely would have with private financing. The project would have to be "well-capitalized with sufficient equity from strategic investors" to receive the loan, the letter said. EXIM, which acts as the U.S. government's export credit agency, said in the letter that Critical Metals qualifies for a loan program designed to support companies that compete with China. The Tanbreez project is expected to cost $290 million and the EXIM funds would be used to fund technical work and get the mine to initial production by 2026. Once fully operational, the mine is expected to produce 85,000 metric tons per year of a rare earths concentrate and two minor metals. "This funding package is expected to unlock significant value for our project and our stakeholders," said Tony Sage, the company's CEO. Representatives for EXIM were not immediately available to comment. The move is the latest in a series of supportive actions by Washington toward the Tanbreez deposit and Greenland's mining sector. Reuters reported in January that former President Joe Biden's administration had successfully lobbied privately held Tanbreez Mining not to sell to a Chinese developer and instead sell to Critical Metals. Biden officials were visiting Nuuk as recently as last November trying to woo additional private investment, opens new tab in the island. Trump sent Vice President JD Vance to the island in March. The island's mining sector has developed slowly in recent years, hindered by limited investor interest, bureaucratic challenges and environmental concerns. Currently, only two small mines are in operation. Rare earths have strong magnetic properties that make them critical to high-tech industries ranging from electric vehicles to missile systems. Their necessity has given rise to intense competition as Western countries try to lessen their dependence on China's near-total control of their extraction and processing. Beijing in April put export restrictions on rare earths as part of its trade spat with Trump. The two countries earlier this month reached a truce, although Beijing's control of the sector has exacerbated the West's over-reliance and sparked a global hunt for fresh supplies. Despite the loan potential, Critical Metals would still have to either build a processing facility or find an existing site with spare capacity. The company told Reuters that its goal is to process the material inside the U.S., a goal the EXIM loan would make more achievable. Last year, Critical Metals had applied for funding to develop a processing facility from the U.S. Department of Defense, but the review process stalled ahead of Trump's January inauguration. For the EXIM loan's additional funding requirements, Critical Metals said it is considering offtake agreements, royalty streams and funding from other U.S. governmental agencies. Critical Metals told Reuters earlier this year that it has held supply talks with defense contractor Lockheed Martin (LMT.N), opens new tab, among others. Critical Metals' 10th-largest investor is brokerage firm Cantor Fitzgerald ( which was formerly led by Howard Lutnick before he joined Trump's cabinet as secretary of the U.S. Commerce Department. Sage told Reuters in January he had never met or talked to Lutnick, but acknowledged Cantor's investment was a positive for his company. EXIM last year extended a letter of interest to Perpetua Resources (PPTA.O), opens new tab for a loan worth up to $1.8 billion for its antimony and gold mine in Idaho.
