Nimy Resources (ASX:NIM) has signed a non-binding memorandum of understanding with Curtin University to advance gallium-related research, development, and production.
The news sent shares up over 16% on Tuesday (18 March) to an intra-day high of $0.05.
Under the agreement, both parties will conduct joint research programs, promote collaboration in gallium-relayed research and development with a focus on increasing stakeholder mapping and engagement to secure external funding opportunities, and coordinate visits with one another.
Nimy and Curtin University will also encourage the exchange of staff and students working in the field of gallium.
This collaboration is expected to accelerate the development of commercial-scale gallium production, while also strengthening Australia’s role in the global critical minerals market.
Technical Director Christian Price says the deal is a step forward in Nimy’s strategy to establish itself as a key player in the gallium market.
“By combining our high-grade gallium discoveries with Curtin’s world-leading research capabilities, we are well-positioned to deliver a secure source of this critical mineral for high-tech and defence applications,” Price says.
Gallium is listed as a critical mineral across Australia, Europe, the UK, US, India, Japan, and South Korea. It plays an essential role in semiconductors, optoelectronics, renewable energy technologies, and defence systems.
The global market for gallium is projected to reach US$22 billion ($34.46 billion) by 2034 at a compound annual growth rate of 24.3%.
Nimy Resources is focused on exploring its Mons Project in Western Australia, which is prospective for gallium, copper, nickel, and platinum group elements.
Write to Aaliyah Rogan at Mining.com.au
Images: Stock
