Australian Rare Earths (ASX:AR3) has received $1 million from the Australian Government’s International Partnerships in Critical Minerals grant to advance its Koppamurra Rare Earths Project.
The instalment is the second of a larger $5 million grant, with the remaining $3.25 million expected to be released in 2026.
Funding will be used to progress metallurgical testwork ahead of a Prefeasibility Study (PFS) for the Koppamurra Project, which falls on the border of South Australia and Western Victoria.
CEO Travis Beinke says the grant instalment indicates “meaningful” progress of the Koppamurra Project, as the market begins to recognise projects alike that will bring diversification to the global supply of light and heavy rare earths.
“It comes at a time when momentum in the rare earths sector is building rapidly, highlighted by the recently announced partnership between MP Materials and the US department of Defense, which underscores the strategic imperative of establishing secure, international supply chains,” Beinke says.
“Meanwhile, in Australia, we note with encouragement the positive announcements by the Australian Government of its intention to implement a Critical Minerals Strategic Reserve and National Offtake Agreements, to incentivise new critical minerals supply, including rare earths.
“With strong government support, robust market tailwinds, and a commitment to sustainable development, Australian Rare Earths is well placed to become a supplier of high-quality, responsible sourced rare earth feedstocks to global markets.”
Australian Rare Earths is a critical minerals explorer, intending to meet the growing demand for uranium and rare earth elements through its wholly owned Koppamurra Project and Queensland assets.
Write to Maddison Elliott at Mining.com.au
Images: Australian Rare Earths
