RareX signs MoU with Nitron Group for Cummins Range product
RareX (ASX:REE) has signed a memorandum of understanding (MoU) with global fertiliser trading and distribution company Nitron Group for product from the Cummins Range rare earths and phosphate project.
Under the MoU, Nitron will receive offtake from stage one and stage two production from Cummins Range.
The stage one offtake consists of 250ktpa of direct application shipping ore (DSO) phosphate from 2025, while the stage two offtake consists of 250ktpa of high-grade phosphate concentrate from 2028. Stage two provides an opportunity for further product from lower-grade rare earth resources, potentially expanding the volume of mineable ore from Cummins Range.
RareX chief executive James Durrant says the MoU marks a step towards de-risking the company’s product and project development strategy.
“The ability to sell some of the pre-strip material as a stand-alone product means we have a low-risk start-up pathway for the project and the supply chain before we lead into the full project with the installation of a beneficiation plant,” he said.
“It makes Cummins Range fundable, executable and operatable and, once the beneficiation plant is installed, we’ll be in a position to produce more rare earths for less capital expenditure than any of our peers.”
Nitron Group is the world’s second largest distributor of fertilisers with a dominant position in Latin America and growing positions in North America, Europe, Africa, Southeast Asia and New Zealand.
 has signed a memorandum of understanding (MoU) with global fertiliser trading and distribution company Nitron Group for product from the Cummins Range rare earths and phosphate project.){kind=link}