ABx Group (ASX:ABX) CEO Mark Cooksey says its mixed rare earth carbonate (MREC) products produced from the Deep Leads Project in northern Tasmania are “likely to be very attractive to customers” following an evaluation of the MREC sample.
“Unlike ABx’s rare earth deposits in northern Tasmania, many rare earth deposits have a significant uranium and thorium content, introducing complexity, cost, and risk to mining, processing, and storage of tailings,” Cooksey says.
“Furthermore, many rare earth separation plants simply cannot accept radioactive intermediate rare earth products as feed material.
“Therefore, it is very pleasing for the ANSTO results to confirm that ABx’s maiden MREC sample from Deep Leads would meet the exemption criteria for radiological control.”
ABx has supplied potential customers with the samples of its maiden MREC product.
The company initially produced 72g from the Deep Leads resource in December 2025, containing between 2.8 to 4.7 times the proportion of the highest-value rare earths, dysprosium and terbium.
The sample was tested by the Australian Nuclear Science and Technology Organisation (ANSTO), returning a basket price between 17% to 51% higher than peer MREC samples.
One prospective customer for ABx’s product is Ucore Rare Metals (TSX-V:UCU), which has received a sample to develop heavy and light rare earth processing facilities in both Canada and the US.
The two parties have established a memorandum of understanding (MoU) to develop a supply pathway for MREC from Australia to Ucore.
ABx has since re-engaged ANSTO to produce a second MREC sample from the liquor from column leach tests on 26kg bulk samples.
The company is focused on conducting economic studies to optimise project design from in-house metallurgical studies and partnering with ANSTO and engineering companies.
Write to Maddison Elliott at Mining.com.au
Images: ABx
