The Democratic Republic of the Congo has banned cobalt exports for four months. Pic: Getty Images
Mining
Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.
Cobalt prices have been in the doldrums for a very long time, but recorded their first monthly gain in over a year in February after the Democratic Republic of the Congo ordered a four month export ban on the metal.
Why does this matter? Well, last year the DRC produced around 220,000t of cobalt, primarily in the form of cobalt hydroxide, which amounts to a whopping 76% of global supply.
LME cobalt has run 56% higher in only a month to US$33,560/t as a short squeeze hits. LME prices ran some 15% higher on Wednesday alone for the battery metal. Fastmarket cobalt hydroxide prices have surged 77% in the first two weeks of March alone to US$10.50/lb.
Cobalt Blue Holdings (ASX:COB) analyst Joel Crane said the ban has resulted in cobalt refineries – mostly based in China – scrambling to secure feedstock “putting significant upward pressure on prices.”
So much so, that Chinese state-controlled mining company MMG suspended operations at its new processing plant at its Kinsevere mine in the DRC shortly after its opening due to a price slump and the export ban.
That slump was caused by a supply flood that’s now drawing the ire of the DRC Government. China Molybdenum, also known as CMOC, was the biggest culprit. It produced 114,165t last year – largely from the Tenke Fungurume mine where copper production is continuing to expand. That’s more than double its 2023 output of 55,526t and well above its 70,000t upper guidance limit.
CMOC had floated plans to produce 100,000-120,000t of the metal in 2025, with DRC stepping in to stem the bleeding.
“For the first time in recent history, a government policy has effectively frozen such a dominant share of a global commodity market,” Crane said.
“The four-month export ban has sent shockwaves through the market. “After two years of oversupply and falling prices, many refiners had cut back on stockpiles.
“With supply suddenly limited, the market is under intense strain to secure material.
“Adding to the pressure is seasonality—post-Lunar New Year restocking typically drives demand, especially from the consumer electronics sector, which accounts for ~30% of cobalt use.”
The company’s Kwinana cobalt refinery, which is in the final stages of permitting and funding, will be Australia’s first cobalt refinery and one of the largest suppliers of battery-grade cobalt sulphate outside China.
COB also has the Broken Hill project, which is one of the world’s largest non-African cobalt sources.
The company is awaiting improved market pricing to progress it into production.
“With global supply abruptly tightening, Australia’s stable and reliable jurisdiction becomes even more attractive,” Crane said.
“Having spent years working closely with EV manufacturers and battery makers, we understand the supply chain.
“While we couldn’t predict this exact disruption, we’ve always known the market would shift, making projects like ours a significant investment opportunity.”
It’s all too little too late for Jervois Mining shareholders, whose firm is set to be delivered into the hands of a major creditor after the lossmaking cobalt producer, which owns Finnish, Brazilian and US refineries and mines was placed into administration this week.
But there are a handful of other ASX juniors whose projects remain steady, if not immediately ready to fill supply gaps.
Latitude 66 (ASX:LAT) has exposure to cobalt via its Kuusamo Schist Belt (KSB) project in Finland which hosts 7.3Mt at 2.7g/t gold for 650,000oz and 0.08% cobalt for 5840t – making it the third largest undeveloped cobalt mineral resource in the EU.
Its MD Grant Coyle says the early impacts of the ban look to be short term in nature.
“As we have now seen since the ban took effect, there has been a significant uplift in the cobalt pricing in the order of over 50%,” he said.
“It should be noted that it is not a ban on production but only exporting, so as production continues, and cobalt stockpiles increase to build in the DRC there is the ability for a quick increase in the global cobalt supply once the ban is lifted.”
But it could reawaken a market that Coyle sees heading into deficit in the 2030s, as demand from battery, defence and aviation markets continues to grow.
“Lat66 is still a few years away from production so in terms of short term pricing this will not impact our project or development decisions,” he said.
“There is forecast to be a supply deficit in the cobalt market by 2030 driven by the demand from both battery industry and defence/aerospace. This is projected to have a significant upward impact on forecast pricing for the cobalt market.”
Antipa Minerals (ASX:AZY) has 13,000t of cobalt as part of its 2.3Moz Minyari Dome gold project in WA (which also hosts 84,000t copper and 661,000oz silver).
And Golden Mile Resources (ASX:G88) also has cobalt at its Quicksilver nickel-cobalt project in WA, which hosts a 26.3Mt resource grading 0.64% nickel and 0.04% cobalt.
Cobalt Blue expects cobalt prices to stay elevated as long as the ban is in place.
“Prices will likely ease if the DRC lifts restrictions and resumes normal exports,” Crane said.
“However, government statements suggest a longer-term strategy – possibly introducing export quotas tied to miners’ investments in domestic refining.
“The DRC heavily depends on cobalt royalties and tax revenue, making this move part of a broader strategy to sustain higher prices.”
He suggests the DRC may be taking cues from Indonesia’s nickel export policies, which reshaped that industry.
“Before the ban, cobalt was trading at (US) $9.50/lb. Since the announcement on February 22, 2025, prices have surged 43% to $14.25/lb,” Crane said.
“Given cobalt’s long-term average price of $27/lb, we anticipate further (and potentially significant) price appreciation as the DRC Government holds firm.”
Crane also expects major market movements – beyond price surges.
“For example, an EV battery materials investment company is preparing to buy and hold physical cobalt ahead of a London Stock Exchange listing, with Glencore as a cornerstone investor,” he said.
“This could further tighten supply and push prices higher.
“This could have a significant impact on the cobalt market and price this year and next as the company could soak up inventory that the Chinese refiners are currently competing for.
“The cobalt market is entering a new phase. Stay tuned.”
Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese and vanadium is performing >>>
Code Company Price % Week % Month % Six Month % Year Market Cap XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272 EMH European Metals Hldg 0.195 86% 34% 15% -30% $37,340,047 BYH Bryah Resources Ltd 0.005 67% 25% 0% -38% $3,134,004 ASR Asra Minerals Ltd 0.003 50% 0% -50% -40% $5,932,817 FRS Forrestaniaresources 0.0255 42% 82% 96% 11% $7,611,179 ETM Energy Transition 0.091 32% 34% 314% 160% $110,064,816 EGR Ecograf Limited 0.15 30% 30% 63% -25% $70,390,432 RXL Rox Resources 0.31 27% 38% 121% 89% $170,207,337 AAJ Aruma Resources Ltd 0.012 26% 20% -45% -29% $2,664,698 CRR Critical Resources 0.005 25% 25% -58% -69% $11,088,996 LNR Lanthanein Resources 0.0025 25% 0% -17% -17% $6,109,090 LSR Lodestar Minerals 0.012 20% 20% -40% -63% $2,527,404 CTN Catalina Resources 0.003 20% 0% 20% -25% $3,948,786 AQD Ausquest Limited 0.044 19% 13% 354% 313% $56,218,324 SYR Syrah Resources 0.27 17% 13% 20% -61% $255,325,479 CNJ Conico Ltd 0.007 17% 0% -30% -72% $1,662,411 GT1 Greentechnology 0.058 16% 0% -35% -69% $22,547,622 NVA Nova Minerals Ltd 0.3 15% -14% 94% 9% $93,373,451 ENV Enova Mining Limited 0.008 14% -11% -47% -78% $9,845,149 LM1 Leeuwin Metals Ltd 0.125 14% 0% 47% 56% $7,836,407 CRI Criticalim 0.017 13% 0% 42% -6% $43,015,178 MHK Metalhawk. 0.35 13% 6% 289% 438% $40,911,976 PTR Petratherm Ltd 0.265 13% 8% 516% 1295% $78,998,130 GSM Golden State Mining 0.009 13% 0% -10% -18% $2,514,336 WC1 Westcobarmetals 0.018 13% 6% -35% -59% $3,166,423 LRV Larvottoresources 0.82 12% -2% 113% 1267% $313,532,498 RON Roninresourcesltd 0.195 11% 0% 50% 86% $7,873,127 G88 Golden Mile Res Ltd 0.01 11% 11% 11% -9% $4,898,231 MEI Meteoric Resources 0.0665 11% -14% -34% -68% $149,686,081 SMX Strata Minerals 0.041 11% 14% 64% 14% $9,107,238 GRE Greentechmetals 0.064 10% -2% -31% -77% $6,504,264 COB Cobalt Blue Ltd 0.054 10% 0% -21% -64% $22,413,138 ODE Odessa Minerals Ltd 0.0055 10% 10% 120% -8% $9,597,195 LCY Legacy Iron Ore 0.011 10% 10% -12% -24% $107,382,468 ITM Itech Minerals Ltd 0.047 9% -6% -33% -39% $8,029,263 STK Strickland Metals 0.084 9% 22% -16% -6% $174,385,765 ASL Andean Silver 1.05 9% -2% -1% 262% $157,186,017 OCN Oceanalithiumlimited 0.025 9% -7% 1% -54% $3,437,410 KNG Kingsland Minerals 0.125 9% 4% -22% -42% $9,070,114 NVX Novonix Limited 0.4775 9% -12% -18% -52% $276,674,753 DVP Develop Global Ltd 2.885 8% 6% 35% 24% $755,124,114 IXR Ionic Rare Earths 0.0065 8% 8% -7% -66% $31,430,570 LMG Latrobe Magnesium 0.014 8% -13% -55% -72% $32,879,523 M24 Mamba Exploration 0.014 8% -13% -22% -44% $4,132,319 DYM Dynamicmetalslimited 0.35 8% 23% 100% 79% $17,179,519 WA1 Wa1Resourcesltd 12.96 8% 0% -16% 8% $829,518,256 GBR Greatbould Resources 0.073 7% 18% 62% 12% $55,414,324 PUR Pursuit Minerals 0.073 7% -9% -51% -71% $6,027,413 PVW PVW Res Ltd 0.015 7% 15% -29% -44% $2,983,572 ZNC Zenith Minerals Ltd 0.045 7% 0% 29% -54% $19,149,747 KZR Kalamazoo Resources 0.076 7% -1% -7% -19% $15,913,907 IDA Indiana Resources 0.076 7% 7% 48% 75% $49,490,399 AXN Alliance Nickel Ltd 0.032 7% -14% 0% -18% $23,226,868 S2R S2 Resources 0.065 7% 0% -26% -57% $29,435,770 QEM QEM Limited 0.066 6% 14% -47% -57% $11,831,689 CHR Charger Metals 0.05 6% -11% -43% -58% $3,871,013 REE Rarex Limited 0.0085 6% -6% -29% -50% $6,406,767 A11 Atlantic Lithium 0.17 6% -15% -35% -56% $114,369,307 KFM Kingfisher Mining 0.054 6% 46% -14% -39% $2,900,610 PSC Prospect Res Ltd 0.091 6% -5% -6% 25% $51,539,668 SGQ St George Min Ltd 0.019 6% -50% -37% -5% $53,356,449 MLS Metals Australia 0.02 5% -5% -17% -17% $14,574,390 INR Ioneer Ltd 0.1525 5% -10% -8% -2% $365,129,240 PGM Platina Resources 0.021 5% 0% 5% -5% $12,463,607 SCN Scorpion Minerals 0.021 5% 40% 24% -28% $10,483,330 JLL Jindalee Lithium Ltd 0.22 5% 16% -4% -72% $15,454,288 ASM Ausstratmaterials 0.37 4% -21% -42% -64% $67,096,052 MIN Mineral Resources. 21.9 4% -31% -42% -67% $4,148,507,730 ESR Estrella Res Ltd 0.027 4% -27% 315% 500% $55,402,295 VMC Venus Metals Cor Ltd 0.093 3% -4% 48% -1% $18,239,968 L1M Lightning Minerals 0.073 3% -12% 4% 4% $7,542,967 VTM Victory Metals Ltd 0.42 2% 14% 8% 50% $44,486,113 GLN Galan Lithium Ltd 0.1075 2% -7% -7% -75% $91,774,023 LYC Lynas Rare Earths 7.33 2% 6% 6% 25% $6,599,110,386 FLG Flagship Min Ltd 0.045 2% 13% -25% -72% $9,161,740 PLL Piedmont Lithium Inc 0.1125 2% -10% 2% -46% $72,077,147 CWX Carawine Resources 0.098 2% -7% 9% -7% $23,612,545 QPM QPM Energy Limited 0.05 2% -17% 72% 14% $121,021,235 MLX Metals X Limited 0.545 2% 15% 36% 54% $465,355,557 S32 South32 Limited 3.57 2% 4% 16% 24% $16,169,715,381 KOB Kobaresourceslimited 0.06 2% -12% -43% -48% $9,513,697 LOT Lotus Resources Ltd 0.1725 1% -22% -35% -56% $401,650,830 CAE Cannindah Resources 0.07 1% 21% 56% 3% $53,149,837 VUL Vulcan Energy 4.39 1% 9% 8% 52% $922,517,237 FRB Firebird Metals 0.1 1% 4% 1% -9% $14,236,140 QXR Qx Resources Limited 0.004 0% 0% -33% -79% $5,240,311 RIL Redivium Limited 0.004 0% 0% 0% 33% $13,609,422 LPD Lepidico Ltd 0.002 0% 0% 0% -65% $17,178,371 MRD Mount Ridley Mines 0.003 0% 20% -70% -85% $2,335,467 CZN Corazon Ltd 0.002 0% 0% -50% -78% $2,369,145 MAN Mandrake Res Ltd 0.019 0% -14% -27% -50% $11,917,938 RLC Reedy Lagoon Corp. 0.002 0% -33% -33% -50% $1,553,413 FGR First Graphene Ltd 0.042 0% -35% -16% -26% $31,404,639 MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922 ARL Ardea Resources Ltd 0.44 0% 7% 2% -27% $90,855,726 VRC Volt Resources Ltd 0.004 0% 33% 0% -20% $18,117,573 NTU Northern Min Ltd 0.018 0% 0% -25% -40% $142,071,649 TKL Traka Resources 0.001 0% -50% -33% -33% $2,125,790 PRL Province Resources 0.041 0% 0% 0% 0% $48,441,219 IPT Impact Minerals 0.007 0% -26% -43% -47% $21,680,454 JRV Jervois Global Ltd 0.011 0% 0% 0% -66% $29,730,402 FBM Future Battery 0.019 0% -17% -14% -69% $12,641,763 VML Vital Metals Limited 0.002 0% 0% -20% -50% $11,790,134 ATM Aneka Tambang 0.995 0% 3% -3% -10% $1,297,131 ALY Alchemy Resource Ltd 0.007 0% 0% 17% -13% $8,246,534 LEL Lithenergy 0.37 0% 0% 17% -38% $41,440,581 LML Lincoln Minerals 0.005 0% -17% 0% -17% $11,309,427 1MC Morella Corporation 0.018 0% -18% -40% -76% $5,944,779 MRC Mineral Commodities 0.026 0% 0% 0% 4% $25,596,288 LEG Legend Mining 0.008 0% -11% -36% -43% $23,275,817 MOH Moho Resources 0.004 0% 0% -33% -33% $2,865,898 AML Aeon Metals Ltd. 0.005 0% 0% 0% -17% $5,482,003 WKT Walkabout Resources 0.095 0% 0% -3% -14% $63,769,838 ARU Arafura Rare Earths 0.165 0% 18% 3% 14% $369,649,304 AM7 Arcadia Minerals 0.02 0% 0% -33% -71% $2,347,669 DTM Dart Mining NL 0.005 0% -17% -67% -61% $3,782,702 RAG Ragnar Metals Ltd 0.017 0% 0% -6% -11% $7,583,776 KOR Korab Resources 0.008 0% 0% 0% -11% $2,936,400 CMX Chemxmaterials 0.026 0% 0% -28% -57% $3,354,580 JMS Jupiter Mines. 0.16 0% 3% -9% -11% $303,961,473 E25 Element 25 Ltd 0.235 0% -11% 21% 15% $53,723,914 KGD Kula Gold Limited 0.0045 0% 0% -40% -40% $4,145,642 ENT Enterprise Metals 0.003 0% -14% -25% 0% $3,534,952 RBX Resource B 0.036 0% 16% 6% -12% $4,146,641 AKN Auking Mining Ltd 0.006 0% 20% 0% -68% $2,873,894 RR1 Reach Resources Ltd 0.009 0% 0% -28% -51% $6,995,451 KAI Kairos Minerals Ltd 0.018 0% 0% 100% 38% $44,725,507 NWM Norwest Minerals 0.011 0% -15% -45% -62% $5,336,315 RGL Riversgold 0.0045 0% 13% 13% -50% $7,576,707 ASO Aston Minerals Ltd 0.017 0% 21% 31% 13% $22,016,093 YAR Yari Minerals Ltd 0.005 0% 0% 67% -17% $2,411,789 CLZ Classic Min Ltd 0.001 0% 0% 0% -98% $1,544,026 M2R Miramar 0.003 0% -25% -63% -79% $1,369,040 RR1 Reach Resources Ltd 0.009 0% 0% -28% -51% $6,995,451 AOA Ausmon Resorces 0.002 0% 0% 0% -33% $2,179,455 GRL Godolphin Resources 0.014 0% -22% 0% -53% $4,309,184 DLI Delta Lithium 0.17 0% -3% -17% -48% $121,812,105 KNI Kunikolimited 0.135 0% -13% -16% -43% $11,713,851 OM1 Omnia Metals Group 0.078 0% 0% 0% 0% $5,233,153 LLL Leolithiumlimited 0.332997 0% 0% 0% 0% $401,204,047 SRN Surefire Rescs NL 0.003 0% 0% -50% -75% $7,248,923 SLM Solismineralsltd 0.083 0% -28% -11% -25% $8,008,353 TOR Torque Met 0.095 0% 12% -14% -39% $25,078,745 ANX Anax Metals Ltd 0.008 0% -20% -60% -60% $7,062,461 PFE Pantera Lithium 0.018 0% -10% -39% -62% $8,528,106 LTM Arcadium Lithium PLC 9.33 0% 2% 144% 26% $1,994,929,982 ILU Iluka Resources 4.135 0% -10% -30% -40% $1,748,428,593 PMT Patriotbatterymetals 0.2725 -1% -6% -32% -71% $146,824,946 CTM Centaurus Metals Ltd 0.39 -1% 8% -4% 39% $183,779,449 NC1 Nicoresourceslimited 0.075 -1% -7% -35% -59% $8,208,793 IGO IGO Limited 3.88 -2% -16% -29% -50% $2,892,763,046 ARR American Rare Earths 0.28 -2% -2% 6% 2% $142,078,524 LIN Lindian Resources 0.095 -2% -5% -14% -30% $110,704,535 CHN Chalice Mining Ltd 1.365 -2% 19% 19% 5% $515,460,494 HAW Hawthorn Resources 0.043 -2% -7% -30% -41% $14,405,671 BNR Bulletin Res Ltd 0.041 -2% -7% -5% -41% $12,038,146 DM1 Desert Metals 0.02 -2% -13% -13% -26% $6,190,591 BHP BHP Group Limited 38.485 -3% -4% -1% -9% $197,628,451,273 WIN WIN Metals 0.0175 -3% -8% -47% -76% $9,901,046 ABX ABX Group Limited 0.035 -3% -5% -15% -47% $8,760,270 LKE Lake Resources 0.032 -3% -18% -22% -67% $57,655,943 DRE Dreadnought Resources Ltd 0.0155 -3% 41% 3% -14% $64,467,600 RVT Richmond Vanadium 0.155 -3% 3% -46% -55% $35,493,333 CNB Carnaby Resource Ltd 0.3 -3% -25% -26% -37% $66,232,769 BC8 Black Cat Syndicate 0.855 -3% 20% 131% 264% $511,795,087 TVN Tivan Limited 0.082 -4% -25% 64% 39% $164,631,311 EG1 Evergreenlithium 0.081 -4% 0% 88% -30% $4,554,630 EFE Eastern Resources 0.026 -4% -4% -35% -71% $3,404,429 TMB Tambourahmetals 0.026 -4% -7% -19% -67% $3,292,521 A8G Australasian Metals 0.075 -4% 7% -38% 4% $4,341,729 MEK Meeka Metals Limited 0.125 -4% 4% 150% 229% $301,280,120 TKM Trek Metals Ltd 0.024 -4% -4% -25% -35% $12,521,349 ICL Iceni Gold 0.072 -4% -12% 106% 213% $21,244,098 WC8 Wildcat Resources 0.1775 -4% -11% -21% -75% $227,775,284 IPX Iperionx Limited 3.22 -4% -27% 15% 47% $994,915,681 PGD Peregrine Gold 0.11 -4% -15% -33% -58% $8,741,037 CY5 Cygnus Metals Ltd 0.11 -4% -15% 62% 108% $89,169,325 TLG Talga Group Ltd 0.43 -4% -5% -7% -51% $182,646,401 NWC New World Resources 0.021 -5% 5% 11% -43% $56,825,634 GED Golden Deeps 0.021 -5% -13% -49% -51% $3,234,469 EMC Everest Metals Corp 0.1575 -5% 5% 43% 97% $34,686,495 LLI Loyal Lithium Ltd 0.081 -5% 1% -30% -71% $7,857,179 SYA Sayona Mining Ltd 0.02 -5% -9% -29% -52% $242,409,216 AS2 Askarimetalslimited 0.01 -5% -17% -44% -89% $2,446,074 KM1 Kalimetalslimited 0.078 -5% -26% -46% -82% $5,762,072 HAS Hastings Tech Met 0.3275 -5% 4% 24% -44% $58,043,563 AXE Archer Materials 0.28 -5% -21% 17% -31% $67,534,458 EUR European Lithium Ltd 0.0465 -5% -14% 13% -31% $59,252,440 MHC Manhattan Corp Ltd 0.018 -5% -14% -10% -64% $4,228,180 LTR Liontown Resources 0.625 -5% 5% -13% -52% $1,468,618,583 AZL Arizona Lithium Ltd 0.0085 -6% -23% -43% -67% $41,056,331 BOA BOA Resources Ltd 0.017 -6% -23% -11% -35% $2,096,998 GL1 Globallith 0.165 -6% -25% -11% -73% $43,185,800 WMG Western Mines 0.099 -6% -21% -56% -38% $9,035,334 MTM MTM Critical Metals 0.16 -6% -27% 208% 95% $68,749,937 SRL Sunrise 0.235 -6% -16% -45% -45% $21,654,600 ADV Ardiden Ltd 0.14 -7% -3% 4% -7% $8,439,863 ASN Anson Resources Ltd 0.056 -7% -13% -42% -49% $79,043,983 PLS Pilbara Min Ltd 1.7625 -7% -17% -39% -58% $5,518,749,960 BCA Black Canyon Limited 0.065 -7% -8% 18% -41% $6,895,462 OMH OM Holdings Limited 0.315 -7% -10% -17% -22% $241,370,892 LPM Lithium Plus 0.061 -8% 0% -36% -64% $8,103,240 DEV Devex Resources Ltd 0.073 -8% -1% -48% -77% $30,476,656 FTL Firetail Resources 0.06 -8% 2% -20% 26% $22,421,651 AZI Altamin Limited 0.023 -8% -4% -13% -53% $13,213,567 AGY Argosy Minerals Ltd 0.022 -8% -12% -46% -86% $32,030,261 PEK Peak Rare Earths Ltd 0.096 -9% -31% -52% -53% $34,153,129 PEK Peak Rare Earths Ltd 0.096 -9% -31% -52% -53% $34,153,129 BM8 Battery Age Minerals 0.063 -9% -16% -50% -57% $7,505,243 NH3 Nh3Cleanenergyltd 0.02 -9% 0% -5% 25% $9,892,886 SRI Sipa Resources Ltd 0.01 -9% -17% -33% -44% $4,580,382 MQR Marquee Resource Ltd 0.01 -9% -17% -38% -50% $4,854,805 TEM Tempest Minerals 0.005 -9% -9% -50% -35% $3,172,649 PBL Parabellumresources 0.04 -9% -25% -27% -35% $2,492,000 NMT Neometals Ltd 0.068 -9% -8% -19% -65% $51,551,481 CXO Core Lithium 0.076 -10% -13% -24% -65% $158,583,150 EVG Evion Group NL 0.018 -10% -28% -22% -22% $7,828,559 AUZ Australian Mines Ltd 0.009 -10% -18% 13% -40% $12,586,609 EVR Ev Resources Ltd 0.0045 -10% -25% 23% -55% $8,936,265 TAR Taruga Minerals 0.009 -10% -10% 13% 29% $6,354,241 WSR Westar Resources 0.009 -10% -25% 29% -27% $3,189,799 BUX Buxton Resources Ltd 0.025 -11% -34% -61% -79% $5,557,062 RMX Red Mount Min Ltd 0.008 -11% 0% -20% -54% $3,719,662 AX8 Accelerate Resources 0.008 -11% -20% -11% -73% $5,974,031 WCN White Cliff Min Ltd 0.016 -11% -14% 0% 0% $28,432,061 LU7 Lithium Universe Ltd 0.008 -11% 0% -33% -63% $6,287,837 TMX Terrain Minerals 0.004 -11% -20% 0% -20% $8,014,226 WR1 Winsome Resources 0.27 -11% -36% -49% -71% $65,851,232 AVL Aust Vanadium Ltd 0.0115 -12% -12% -18% -32% $94,981,239 NIC Nickel Industries 0.6575 -12% -10% -22% -20% $2,809,825,471 VHM Vhmlimited 0.26 -12% -21% -49% -51% $58,630,487 SBR Sabre Resources 0.007 -13% -22% -46% -61% $3,143,695 ARN Aldoro Resources 0.315 -13% 7% 294% 299% $54,997,777 RNU Renascor Res Ltd 0.042 -13% -24% -57% -51% $106,765,351 PVT Pivotal Metals Ltd 0.007 -13% 17% -42% -56% $6,350,581 SLZ Sultan Resources Ltd 0.007 -13% -13% 17% -65% $1,620,289 MRR Minrex Resources Ltd 0.007 -13% -13% -26% -46% $7,594,073 PAT Patriot Lithium 0.042 -13% -2% 20% -44% $5,309,555 AR3 Austrare 0.075 -13% -9% 17% -29% $11,288,271 GAL Galileo Mining Ltd 0.13 -13% -7% -19% -49% $25,691,241 SRZ Stellar Resources 0.013 -13% -13% -21% 8% $29,116,508 HRE Heavy Rare Earths 0.022 -14% -12% -26% -45% $5,096,830 SUM Summitminerals 0.06 -14% -45% -78% -6% $5,576,191 FIN FIN Resources Ltd 0.006 -14% 0% 0% -70% $3,895,612 IG6 Internationalgraphit 0.047 -15% -22% -33% -57% $9,484,358 BUR Burleyminerals 0.058 -15% 18% -36% 14% $8,721,515 KTA Krakatoa Resources 0.0085 -15% 6% -23% -15% $5,016,139 THR Thor Energy PLC 0.011 -15% 10% -27% -54% $7,796,688 1AE Auroraenergymetals 0.036 -16% -14% -14% -69% $7,699,741 BSX Blackstone Ltd 0.065 -17% 16% 39% 2% $41,945,702 VR8 Vanadium Resources 0.02 -17% -31% -46% -49% $11,252,504 EMS Eastern Metals 0.01 -17% -17% -63% -64% $1,136,762 CMO Cosmometalslimited 0.015 -17% -20% -38% -45% $1,964,893 STM Sunstone Metals Ltd 0.005 -17% -29% -17% -58% $30,900,022 FG1 Flynngold 0.022 -19% -24% -15% -40% $7,066,868 BMM Bayanminingandmin 0.043 -19% -4% -9% -37% $4,713,283 EMN Euromanganese 0.037 -20% -20% -33% -55% $7,483,108 ADD Adavale Resource Ltd 0.002 -20% -20% -20% -60% $4,546,558 LIT Livium Ltd 0.0095 -21% -27% -53% -65% $15,107,205 REC Rechargemetals 0.015 -21% -21% -46% -76% $4,616,819 PNN Power Minerals Ltd 0.07 -21% -22% -33% -61% $8,539,115 IMI Infinitymining 0.011 -21% 22% -21% -85% $5,894,221 GCM Green Critical Min 0.011 -21% -35% 340% 175% $21,253,961 INF Infinity Lithium 0.021 -22% -25% -36% -71% $9,251,842 EV1 Evolutionenergy 0.014 -22% -7% -42% -85% $5,802,408 GW1 Greenwing Resources 0.027 -23% -25% -49% -61% $6,497,590 PNT Panthermetalsltd 0.0145 -24% 107% -9% -45% $4,513,568 OD6 Od6Metalsltd 0.028 -24% -42% -32% -70% $4,458,880 EMT Emetals Limited 0.003 -25% -25% -25% -40% $2,550,000 AVW Avira Resources Ltd 0.006 -25% -70% -70% -70% $881,638 CDT Castle Minerals 0.0015 -25% -40% -63% -79% $3,855,646 CLA Celsius Resource Ltd 0.008 -27% -20% -27% -38% $21,353,908 TON Triton Min Ltd 0.005 -29% -29% -50% -69% $7,841,944 BKT Black Rock Mining 0.02 -33% -35% -61% -68% $27,919,358 RAS Ragusa Minerals Ltd 0.017 -35% -32% 13% -54% $2,709,377 OB1 Orbminco Limited 0.001 -40% -20% -40% -70% $3,610,839 POS Poseidon Nick Ltd 0 -100% -100% -100% -100% $23,380,727 LRS Latin Resources Ltd 0 -100% -100% -100% -100% $477,661,711 CAI Calidus Resources 0 -100% -100% -100% -100% $93,678,206 Code Company Price % Week % Month % Six Month % Year Market Cap XTC XTC Lithium Limited 0.2 19900% 19900% 19900% 19900% $17,528,272
The explorer has increased the resource estimate at its Caldeira ionic clay rare earths project to more than 1 billion tonnes.
The increase marks a 50% upgrade, graded at 2,413ppm TREO – plus an increase of the MREO/TREO ratio across the project to 23.2%.
Managing director Stuart Gale says the increased resource demonstrates the Tier 1 status of the project “inclusive of its significant scale and the optionality which it brings to global rare earth markets.”
“While the Project’s scale is crucial, the flexibility it provides to target specific areas enriched with magnetic light and heavy rare earths adds substantial long-term value as we aim to deliver this critical commodity,” he said.
“The recent high-grade discovery at Barra do Pacu (BDP) is yet to be included in the mineral resource estimate and will definitely add more quality material to our inventory during the early stages of the project.”
The high-grade BDP area will be added to the resource in the coming quarter and is scheduled in the project’s upcoming pre-feasibility study.
A peer review completed by Minviro on the company’s magnet recycling process has confirmed up to 61% lower carbon emissions are possible compared to the existing eare earth oxide supply chain.
The product carbon footprint study showed up to a 53% reduction in CO2 emissions for didymium oxide, and up to a 61% reduction in CO2 emissions for dysprosium oxide.
“The benefits of Ionic Technologies’ patented process based on Belfast know-how have again been demonstrated, showing how magnet recycling can not only supply the REOs critical for the defence, advanced manufacturing and renewables sectors, but also offer emission reduction benefits compared to conventional rare earths production,” MD Tim Harrison said.
“Ionic Technologies will now work with offtakers to quantify the CO2 impact of our products, and how this can benefit their supply chains and products.
“Unlike other magnet recyclers, we produce separated REOs, which are of equivalent quality to primary REO materials.
“Now we can quantify exactly how much CO2 that our customers can expect to eliminate through inclusion of our products in the supply chain – an invaluable source of data for manufacturers seeking to quantify and actively manage their emissions.”
The company has secured new tenements (E80/5942 and E80/5973) as part of the Mt Mansbridge heavy rare earths project in WA.
The project is just 40kms from Northern Minerals’ (ASX:NTU) Brown Range project, which is one of the most significant HRE districts in the world, with 7 xenotime deposits hosting 11.7Mt at 0.77% TREO (with DyTb contributing to 10% of the TREO).
Notably, Iluka Resources (ASX:ILU) has recently pegged most of the ground between the Mt Mansbridge project and Browns Range project and are substantial shareholders of NTU, with a pathway to acquire 19.9% of the company.
“We know there’s xenotime mineralization on the project, we know the region and the native title holders well, and we know the strategic nature of heavy rare earths to Australia,” MD and CEO James Durrant said.
“This project aligns with our focus on rare earths and niobium, supporting the global electrification megatrend.
“We look forward to progressing exploration activities and unlocking the full potential of this promising project.”
At Stockhead, we tell it like it is. While Latitude 66, Antipa Resources, Golden Mile Resources and Meteroic Resources are Stockhead advertisers, they did not sponsor this article.
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