Everest Metals (ASX:EMC) has secured $490,500 in funding under Australian’s Economic Accelerator (AEA) Ignite round two program for its Mt Edon Critical Minerals Project in Western Australia.
The project is under partnership with Edith Cowan University, with funding to fast-track development of the company’s Direct Rubidium Extraction technology at the project after it returned up to 97% rubidium recovery in laboratory testing.
Funds will be used to optimise extraction and purification from pegmatite ore. Everest intends to advance its technology readiness level from TRL4 to TRL6 in one year.
Everest says the grant from the Australian Government marks a “significant step” towards establishing a commercial pilot plant.
CEO Mark Caruso says the company is grateful to the Australian Government for its support over this initiative, benefitting the local rubidium industry.
“We are excited to advance these programs in collaboration with our research partner Edith Cowan University,” Caruso says.
Edith Cowan University Mineral Recovery Research Centre (MRRC) Leader Amir Razmjou says the funding comes from a “highly competitive AEA program”.
“This builds on our ongoing collaboration with Everest Metals on rubidium extraction and positions the team as pioneers in the emerging Australian rubidium industry,” Razmjou says.
Mt Edon is one of 174 grants awarded from the AEA Ignite round two program, as well as one of 14 awarded to the resource sector. The program received 838 applications for funding.
Everest executed a formal research agreement with Edith Cowan’s MRRC in February 2024 for an initial small-scale demonstration of the extraction technology process at its laboratory.
Write to Maddison Elliott at Mining.com.au
Images: Everest Metals
