Medallion Metals to raise $60m for Ravensthorpe

RareX revolutionising Australian gallium RareX (ASX: REE) has entered a strategic agreement with materials science innovator Gega Elements to develop Australia’s first integrated gallium supply chain. The collaboration will support the development of vertically integrated gallium extraction and refining capability in Australia by advancing proprietary gallium refining technologies. The agreement, which spans over three years, will see Gega test and continue to refine its technology on RareX samples. With the global supply of gallium heavily concentrated in China, this move aligns with the recent shift in focus to domestic production and developing national critical minerals resilience. Under the agreement, the companies will collaborate...

Australia’s first underground lithium mine Liontown Resources (ASX: LTR) has officially opened its Kathleen Valley lithium project 680km north-east of Perth, WA. The project is a globally significant, long-life operation and Australia’s first underground lithium mine that is expected to generate jobs and bolster local development. Liontown has already signed offtake agreements with some of the world’s leading electric vehicle (EV) and battery manufacturers including Tesla, Ford, LG Energy Solution and Beijing Sinomine. With these contracts, the company has secured demand for the project’s initial production and positioned itself as an emerging force in the global lithium supply chain. Boosted by a $15m interest-free loan from the...

UNSW wins funding for next-gen mining methods The University of NSW (UNSW) Minerals and Energy Resources Engineering School has received $5m in funding, from the Federal Government, to establish its ARC Research Hub. The funding will aid in the development of the hub for next generation mining methods (NextGenMIN), which will focus on delivering innovative and sustainable approaches to extracting critical and strategic minerals. The Federal Government, as part of the industrial transformation research hubs scheme, announced funding for 13 new research hubs and training centres this...

Gold Fields to acquire Gold Road for $3.7b South African gold giant Gold Fields is set to acquire one of Australia’s largest gold miners, Gold Road (ASX: GOR), in a takeover scheme valuing the company at $3.7b. Gold Road has convinced its Gruyere gold mine joint venture partner to increase its takeover bid, proposed in March for $3.3b, by nearly $400m. Gold Road has entered a scheme implementation deed that will allow Gold Fields to acquire 100% of shares in Gold Road by way of a scheme arrangement. Under the terms of the scheme Gold Road shareholders will receive a fixed cash...