RareX Limited (ASX: REE) has provided a development update for its 100% owned Cummins Range project, Australia's largest undeveloped rare earths project, which contains significant phosphate deposits. Rare earth metallurgy and engineering efforts are on hold because of suppressed metal prices. However, the company is investigating early phosphate product generation as a standalone operation, aligned with its August 2023 Scoping Study. A phosphate metallurgical program has successfully produced samples that are currently being tested in the offtake market within Australia and Southeast Asia.
Additionally, RareX is testing alternative phosphate extraction technology that could lower startup costs, with results expected in November. The company has secured de-risked supply chain infrastructure through agreements concerning Wyndham Port, and discussions on native title heritage agreements are ongoing following new board representatives on the PBC.
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