RareX completes enhanced scoping study for Cummins Range

RareX (ASX:REE) has completed an enhanced scoping study which delivered positive outcomes from a three-stage project development strategy for its Cummins Range project.

The enhanced scoping study built on the learnings and recommendations from the September 2022 scoping study which positioned Cummins Range as Australia’s largest undeveloped rare earths project.

The study outlined a fundable, low-CAPEX, stage one direct shipping ore (DSO) phosphate project as the springboard for a longer-term, high-value, low-risk staged rare earths operation.

Stage one is simple, fundable and deliverable with significantly lower risk that other development pathways and establishes an operating platform before expanding into stage two.

Stage two development, operations and offtake are materially de-risked following stage one, while stage three builds one the stage two process plant with minimal anticipated modification.

Chief executive James Durrant said the results from the scoping study exceeded expectations.

“The scoping study results have exceeded our expectations and validate the evolved project development pathway presented in April 2023,” he said.

“The results show a practical approach to allow the economic extraction of rare earth elements in conjunction with valuable phosphate fertiliser or battery feedstock.

“The stage approach positively differentiates us from more conventional rare earth developments which typically have less favourable geology and more complex infrastructure requirements.”

Over the next six to nine months, RareX will identify strategic offtake partners, advance stage one to definitive feasibility study, advance stage two to pre-feasibility study and complete submissions for mining approvals.