Venari Minerals (ASX:VMS) has begun investigating the potential to recover strontium and magnesium alongside lithium carbonate at its Red Mountain Lithium Project in Nevada, US, following metallurgical test work that identified both elements in the leach circuit.
Strontium is classified as a Strategic Material by the US Department of War due to its use in tracer ordnance and flares.
The US relies entirely on imports for its strontium supply, and the National Defense Authorization Act for the Fiscal Year 2023 requires domestic sourcing of defence-related chemicals, including strontium compounds, by 2028.
Magnesium holds US Department of Energy Critical Mineral status, with 59% of US magnesium sulphate imports coming mainly from China.
Venari Minerals CEO Matthew Healy says the immediate priority is determining whether the byproducts can be recovered economically.
“Red Mountain has always been viewed as a highly prospective lithium project, but recent metallurgical work suggests there may be an opportunity to unlock significant additional value through the recovery of strategic byproducts,” Healy says.
Chairman Anthony Leibowitz says the byproducts could enhance project economics and diversify revenue streams without shifting the project’s core focus.
“Importantly, this isn’t about changing the focus of the project — rather, it’s about maximising value from the existing resource through a disciplined and systematic technical evaluation,” Leibowitz adds.
Global strontium demand is estimated at 300,000–600,000 tonnes annually, with US consumption in the tens of thousands of tonnes.
Strontium carbonate typically sells for US$2,000 ($2,900) per tonne in the US, though higher-purity products can exceed US$14,000 per tonne. The magnesium sulphate market stands at 2.7 million tonnes (Mt) annually — of which North America accounts for 25% — and is projected to reach 3.7Mt by 2034.
Venari’s evaluation program includes metallurgical test work, incorporation of strontium and magnesium into the Red Mountain mineral resource estimate (MRE), and exploration of partnerships and US government support programs.
An updated inferred MRE is expected in Q3 2026, with a Scoping Study incorporating byproduct options targeted for completion in Q1 2027.
Red Mountain hosts a maiden MRE of 500Mt at 1,139 parts per million lithium for 3.03Mt of lithium carbonate equivalent.
Previous test work has demonstrated lithium leachability of up to 98%, with the project producing 99.5% battery-grade lithium carbonate directly from mineralised rock.
Venari Minerals is advancing the Red Mountain Project in Nevada, with a strategy to maximise value through the recovery of strategic and critical mineral byproducts.
The company will be attending the Noosa Mining Investor Conference, held from 22–24 July 2026 at Peppers Noosa Resort in Noosa Heads, Queensland.
Mining.com.au is an official media partner of this year’s conference and will be at the event.
Write to JC Villarba at Mining.com.au
Images: Venari Minerals
