Everest Metals targets pilot-scale rollout of rubidium extraction breakthrough

Everest Metals (ASX: EMC) is planning to fast-track the development of its unique rubidium extraction method after the Edith Cowan University (ECU) in Western Australia completed its engineering scoping study (ESS) on the process.

Utilising material from Everest’s Mt Edon critical minerals project in WA, the company sees the finalisation of the ESS as a key step in positioning Australia as an emerging player in the global rubidium supply chain.

Everest is now exploring grant funding opportunities for scaling up to a pilot plant.

Funding opportunities

Chief executive officer Mark Caruso said the ESS study completion should not only strengthen commercial and geopolitical interest in the Mt Edon project, but also support access to funding opportunities through domestic and international critical minerals initiatives and aligned capital sources.

“Our breakthrough results showcase the power of our innovative direct extraction technology, paving the way for Australia’s first rubidium industry in WA,” Mr Caruso said.

“We’re thrilled to collaborate with our partners to scale up the Mt Edon project, unlocking its potential to meet global demand for this critical mineral and drive economic growth.”

Highest-grade rubidium

The Mt Edon project contains Australia’s highest-grade rubidium discovery, providing Everest with a unique opening to test global markets.

The company intends to join the Defence Industrial Base Consortium (DIBC), a US Department of Defence-funded program.

The DIBC is focused on commercialising research and development efforts, developing the industrial workforce, sustaining critical production and rapidly scaling emerging technologies for strategic and critical materials.

METS program application

Everest has also submitted an application for funding under the Minerals Research Institute of Western Australia’s METS Innovation program.

The application includes a request for matched funding to support forthcoming metallurgical and rubidium purification test work, aimed at bridging the gap between bench-scale studies and a commercial pilot plant.

The company expects an outcome from the application by the end of this month.

Emerging market leader

“These innovations not only enhance sustainability but also position Everest as a leader in the emerging rubidium market,” Mr Caruso said.

“Australia’s initiatives in rubidium extraction and application are particularly significant, as they reduce reliance on China, which dominates the global supply of many critical minerals.”

“By establishing a domestic rubidium industry, Australia is poised to bolster national security and support domestic defence.”

Strategic partnerships with the ECU and CSIRO will support Everest’s plans.