Articles
Explore all 47 projects in Western Australia’s October 2026 prospectus, from discoveries to mines and processing plants. Read project plans, mineral resources, ore reserves and study context alongside the interactive map.
Western Australia’s resource sector spans more than mines. The 47 company profiles in the October 2026 Critical Minerals Prospectus connect exploration, mine development, mineral processing and the materials needed by batteries, electronics, magnets and advanced manufacturing. This guide brings the project descriptions, development plans and reported resource figures into one readable page.
The interactive atlas above helps you place each project geographically. The detailed guide below contains the same project information as ordinary article text, including the figures behind the resource tables. Projects are grouped by mineral so you can follow a supply chain or compare development pathways.
A mineral resource describes a geological estimate. Measured, Indicated and Inferred categories express different levels of confidence. An ore reserve is the economically mineable part assessed with relevant mining, processing and other modifying factors. Resources and reserves should not be added together. An exploration target is conceptual potential, not an established resource.
Grade and contained metal measure different things. Tonnes of material, percentage or parts-per-million grade, and tonnes of contained metal must retain their units. An oxide such as Li₂O, V₂O₅ or Nb₂O₅ is not the same mass as its elemental metal. TGC means total graphitic carbon; TREO means total rare-earth oxides; HREO refers to heavy rare-earth oxides. Mt means million tonnes, Bt billion tonnes, kt thousand tonnes and tpa tonnes per year.
A study is a dated scenario, not a forecast guarantee. Scoping, pre-feasibility and feasibility studies use different levels of engineering detail. Net present value (NPV) depends on its discount rate, tax basis, commodity prices and study date. Capital costs retain the currencies reported in the prospectus. Conditional finance, offtake discussions and planned production are distinguished from completed funding and operating output.
These are company-reported prospectus snapshots from October 2026, not continuously updated company disclosures. Where source labels or totals conflict, the discrepancy is stated beside the figures. Missing values are shown as undisclosed rather than zero. Map positions reuse the existing mineral-site matches; uncertain and approximate locations are labelled.
Black Cat Syndicate Limited · ASX: BC8
Antimony · Pilbara · Upstream
Prospectus status: Scoping Study underway
The Pilbara project is 30 km from Paulsens, with access to regional roads and ports. Antimony occurs with silver and lead; the estimate is Inferred.
Source discrepancy: the resource table labels tonnage as Mt but prints 415, 2,190 and 2,605; the accompanying narrative describes 2.6 Mt. The table values and label are retained as printed, not silently converted. Its 26.5 kt total contained Sb also differs from the rounded 26 kt narrative figure. The profile explicitly says a scoping study is underway.
Project details and development
Reported drill intersections include 6.90 m at 2.18% Sb in EHDD25006, 4.20 m at 1.92% Sb in EHDD25009 and 12.45 m at 1.15% Sb in EHDD25002. The company plans more resource-definition drilling because mineralisation remains open in every direction.
The scoping work is assessing 200,000–650,000 tonnes of annual throughput. Austrade has introduced prospective offtakers in Asia, Europe and the US; discussions also include Export Finance Australia and DISR, with Major Project Status being considered.
Inferred mineral resource — source table
Deposit Western: Category Inferred; Tonnage (source label: Mt) 415; Au (g/t) 2.6; Cu (%) 0.4; Sb (%) 0.2; Ag (g/t) 76.9; Pb (%) 0; Au (koz) 37; Cu (kt) 1.6; Sb (kt) 0.7; Ag (koz) 1,026; Pb (kt) 0.
Deposit Eastern: Category Inferred; Tonnage (source label: Mt) 2,190; Au (g/t) 0.2; Cu (%) 0; Sb (%) 1.2; Ag (g/t) 16.7; Pb (%) 1.8; Au (koz) 16; Cu (kt) 0; Sb (kt) 25.8; Ag (koz) 1,172; Pb (kt) 39.0.
Deposit Total: Category Inferred; Tonnage (source label: Mt) 2,605; Au (g/t) —; Cu (%) —; Sb (%) —; Ag (g/t) —; Pb (%) —; Au (koz) 53; Cu (kt) 1.6; Sb (kt) 26.5; Ag (koz) 2,198; Pb (kt) 39.
Tenure and approvals: Exploration Licences granted Mining Leases granted Environmental applications not submitted
Reported capital: Scoping Study (completion TBD)
Primary product or commodity: Antimony (Sb)
Other commodities: Pb, Ag
Seeking: Commercialisation options, offtake partners and strategic partners
Conico Ltd / Maritana Minerals Ltd · ASX: CNJ; ASX: MRT
Cobalt · Goldfields-Esperance · Upstream
Prospectus status: Pre-Feasibility Study completed (2020) Resource Development underway
Conico and Maritana each hold 50%. The laterite deposit is 16 km from Norseman, close to transport, power and port infrastructure, and extends north toward Galileo tenure. Nickel sulphide and PGE exploration potential is additional to the laterite development.
Project details and development
The 2020 atmospheric-leach PFS uses 1.8 million dry tonnes of annual feed. It reports 19.1 kt cobalt and 24.8 kt nickel in mixed sulphide product, using a Probable reserve of 18.8 million dry tonnes at 0.13% Co and 0.54% Ni. Reported AISC is US$35,000 per tonne of contained cobalt.
A 2023 HPAL scoping study examined precursor cathode active material. It was not released because it relied too heavily on Inferred resources; it should not be treated as a published development case.
Laterite mineral resource
Area / category Main / Indicated: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 30.2; Ni (%) 0.51; Co (%) 0.1; Mn (%) 0.69; Ni (kt) 154; Co (kt) 29.3; Mn (kt) 208.4.
Area / category Main / Inferred: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 31.9; Ni (%) 0.35; Co (%) 0.03; Mn (%) 0.24; Ni (kt) 111.7; Co (kt) 9.3; Mn (kt) 76.6.
Area / category Main / Total: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 62.1; Ni (%) 0.43; Co (%) 0.06; Mn (%) 0.46; Ni (kt) 265.7; Co (kt) 38.5; Mn (kt) 284.9.
Area / category North / Indicated: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 0; Ni (%) 0; Co (%) 0; Mn (%) 0; Ni (kt) 0; Co (kt) 0; Mn (kt) 0.
Area / category North / Inferred: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 4.2; Ni (%) 0.43; Co (%) 0.05; Mn (%) 0.29; Ni (kt) 18.1; Co (kt) 2.0; Mn (kt) 12.2.
Area / category North / Total: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 4.2; Ni (%) 0.43; Co (%) 0.05; Mn (%) 0.29; Ni (kt) 18.1; Co (kt) 2.0; Mn (kt) 12.2.
Area / category Combined total: NiEq cutoff (%) 0.25; Dry tonnage (Mt) 66.3; Ni (%) 0.43; Co (%) 0.06; Mn (%) 0.45; Ni (kt) 283.7; Co (kt) 40.5; Mn (kt) 297.1.
The source repeats its contained-metal columns; each metal is shown once here. Source rounding is retained.
Tenure and approvals: Mining Lease granted
Reported capital: US$370M (PFS 2020)
Primary product or commodity: Cobalt
Other commodities: Ni, Mn, Sc
Seeking: Project finance | Offtake partners | Strategic partners
Cobalt Blue Holdings · ASX: COB
Cobalt · Perth Metro · Midstream
Prospectus status: Definitive Feasibility Study completed (2025) Final Investment Decision underway (2027)
Cobalt Blue and Iwatani are developing the refinery at Iwatani Australia’s Doral Fused Materials site in East Rockingham. Stage 1 targets 3,000 tpa contained cobalt: about 2,000 tpa in battery-grade sulphate and 1,000 tpa in alloy-grade metal. A possible 6,000 tpa second stage depends on feedstock and sales.
Project details and development
A binding Glencore supply agreement initially uses cobalt hydroxide from DRC operations. Broken Hill feedstock could progressively replace imports once that mine produces. The plant is designed for varied feeds, including sulphides, nickel–cobalt intermediates and black mass.
Works Approval was granted in September 2025. Pilot products have been demonstrated, and sulphate samples meet customer trace-metal requirements. Investment decision is targeted for early 2027. Iwatani has committed to 30% of output, with negotiations for the remainder across Europe, Japan, Korea and the US.
The November 2025 Stage 1 case, stated on a 100% ownership basis, reports A$155 million NPV8, 32% IRR, 3.8-year payback and US$40 million capital. The profile does not specify the tax basis of these financial metrics.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: Works Approval granted
Reported capital: US$40M (November 2025)
Primary product or commodity: Cobalt Sulphate
Other commodities: High-Purity Cobalt Metal
Seeking: Offtake | Strategic partners | Equity/debt investment | Institutional and retail investors
Anax Metals Limited · ASX: ANX; ASX: DVP
Copper · Pilbara · Upstream
Prospectus status: Definitive Feasibility Study completed (2026) Front-end engineering design underway (2026)
Anax holds 80% and Develop 20%. The proposed mine plan combines Whim Creek, Mons Cupri, Evelyn and Salt Creek, four VMS deposits on granted mining leases. The site is on the Northwest Coastal Highway, roughly 120 km from both Karratha and Port Hedland.
Project details and development
The February 2026 DFS uses a 400,000 tpa concentrator over ten years, averaging 13,000 t CuEq annually during the first eight years. Existing oxide-processing infrastructure and more than 40 Mt of material within 150 km underpin a possible regional processing role.
On a 100% project basis, the reported pre-tax NPV at 7% is A$501 million, IRR 98%, free cash flow A$723 million and payback about 14 months. The narrative gives roughly A$91 million capital; the header separately gives US$64 million. These source currency figures are retained rather than forced into one conversion.
Copper-dominant mineral resources
Category Measured: Tonnage (kt) 990; Cu (%) 1.62; Zn (%) 1.42; Pb (%) 0.61; Ag (ppm) 38; Au (ppm) 0.28.
Category Indicated: Tonnage (kt) 6,420; Cu (%) 1.23; Zn (%) 0.73; Pb (%) 0.17; Ag (ppm) 13; Au (ppm) 0.14.
Category Inferred: Tonnage (kt) 1,830; Cu (%) 0.96; Zn (%) 0.44; Pb (%) 0.08; Ag (ppm) 7; Au (ppm) 0.09.
Category Total: Tonnage (kt) 9,240; Cu (%) 1.22; Zn (%) 0.75; Pb (%) 0.20; Ag (ppm) 15; Au (ppm) 0.15.
Combined Mons Cupri, Salt Creek, Whim Creek and Evelyn. Contained totals: 112,000 t Cu; 69,000 t Zn; 18,000 t Pb; 4,330,000 oz Ag; 43,700 oz Au.
Zinc-dominant mineral resources
Category Measured: Tonnage (kt) 70; Cu (%) 0.16; Zn (%) 4.56; Pb (%) 1.79; Ag (ppm) 53; Au (ppm) 0.23.
Category Indicated: Tonnage (kt) 1,230; Cu (%) 0.40; Zn (%) 7.55; Pb (%) 2.20; Ag (ppm) 58; Au (ppm) 0.27.
Category Inferred: Tonnage (kt) 450; Cu (%) 0.34; Zn (%) 5.07; Pb (%) 1.75; Ag (ppm) 27; Au (ppm) 0.1.
Category Total: Tonnage (kt) 1,750; Cu (%) 0.37; Zn (%) 6.75; Pb (%) 2.05; Ag (ppm) 50; Au (ppm) 0.22.
Combined Mons Cupri, Salt Creek and Whim Creek. Contained totals: 7,000 t Cu; 118,000 t Zn; 36,000 t Pb; 2,790,000 oz Ag; 12,600 oz Au.
Ore reserve
Category / deposit Proven / Mons Cupri: Mining method Open pit; Ore (Mt) 1.06; Cu (%) 1.46; Zn (%) 1.58; Pb (%) 0.68; Ag (ppm) 38; Au (ppm) 0.28.
Category / deposit Proven subtotal: Mining method —; Ore (Mt) 1.06; Cu (%) 1.46; Zn (%) 1.58; Pb (%) 0.68; Ag (ppm) 38; Au (ppm) 0.28.
Category / deposit Probable / Mons Cupri: Mining method Open pit; Ore (Mt) 1.49; Cu (%) 0.83; Zn (%) 1.08; Pb (%) 0.47; Ag (ppm) 23; Au (ppm) 0.14.
Category / deposit Probable / Whim Creek: Mining method Open pit; Ore (Mt) 0.72; Cu (%) 1.54; Zn (%) 1.14; Pb (%) 0.15; Ag (ppm) 7; Au (ppm) 0.06.
Category / deposit Probable / Evelyn: Mining method Underground; Ore (Mt) 0.56; Cu (%) 2.04; Zn (%) 3.26; Pb (%) 0.23; Ag (ppm) 34; Au (ppm) 0.83.
Category / deposit Probable / Salt Creek: Mining method Underground; Ore (Mt) 0.79; Cu (%) 1.57; Zn (%) 6.0; Pb (%) 1.83; Ag (ppm) 48; Au (ppm) 0.27.
Category / deposit Probable subtotal: Mining method —; Ore (Mt) 3.55; Cu (%) 1.33; Zn (%) 2.52; Pb (%) 0.67; Ag (ppm) 27; Au (ppm) 0.26.
Category / deposit Total: Mining method —; Ore (Mt) 4.61; Cu (%) 1.36; Zn (%) 2.31; Pb (%) 0.67; Ag (ppm) 30; Au (ppm) 0.27.
Tenure and approvals: Mining Leases granted Project fully permitted
Reported capital: US$64M (2026 DFS)
Primary product or commodity: Copper
Other commodities: Zn, Pb, Ag, Au
Seeking: Development funding
Cobalt Blue Holdings · ASX: COB
Copper · Kimberley · Upstream
Prospectus status: Scoping Study completed (2025) Pre-Feasibility underway
Onedin and Sandiego are 15 km southwest of Halls Creek within a 250 km² landholding. About 96% of the 8.9 Mt resource is Indicated. The June 2025 scoping case covers 10.5 years including initial construction.
Project details and development
Stage 1 combines Onedin open-pit mining and heap leaching to produce copper metal and zinc sulphate monohydrate. Stage 2 moves to Sandiego underground mining and flotation, producing separate copper and zinc concentrates with silver credits.
The power concept combines 6 MW solar, batteries and diesel backup. The study reports about US$47 million upfront capital (the profile header rounds this to approximately US$50 million), and total output of 52,400 t copper, 118,900 t zinc and 381,300 oz silver in Sandiego concentrates.
About 3.6 Moz of Stage 1 silver was excluded from production and financial estimates. Metallurgical work is testing silver recovery, improved recoveries and a simpler development sequence; regional exploration provides additional options.
JORC 2012 mineral resources
Deposit / category Onedin / Indicated: Tonnage (Mt) 4.8; Cu (%) 0.7; Cu (kt) 33; Zn (%) 3.1; Zn (kt) 151; Ag (g/t) 38; Ag (Moz) 5.9.
Deposit / category Onedin subtotal: Tonnage (Mt) 4.8; Cu (%) 0.7; Cu (kt) 33; Zn (%) 3.1; Zn (kt) 151; Ag (g/t) 38; Ag (Moz) 5.9.
Deposit / category Sandiego / Indicated: Tonnage (Mt) 3.7; Cu (%) 1.4; Cu (kt) 51; Zn (%) 4.3; Zn (kt) 160; Ag (g/t) 27; Ag (Moz) 3.2.
Deposit / category Sandiego / Inferred: Tonnage (Mt) 0.4; Cu (%) 1.3; Cu (kt) 5; Zn (%) 3.8; Zn (kt) 15; Ag (g/t) 6; Ag (Moz) 0.1.
Deposit / category Sandiego subtotal: Tonnage (Mt) 4.1; Cu (%) 1.4; Cu (kt) 56; Zn (%) 4.3; Zn (kt) 175; Ag (g/t) 25; Ag (Moz) 3.3.
Deposit / category Total: Tonnage (Mt) 8.9; Cu (%) 1.0; Cu (kt) 89; Zn (%) 3.7; Zn (kt) 326; Ag (g/t) 32; Ag (Moz) 9.2.
Separate copper and zinc zones are combined in deposit totals. Onedin cutoffs: 0.4% Cu and 1.0% Zn; Sandiego: 0.8% Cu and 3.0% Zn. Minor rounding differences are retained.
Tenure and approvals: Mining Leases granted (M80/277 and M80/276)
Reported capital: ~US$50M (est. upfront capital)
Primary product or commodity: Copper
Other commodities: Zn, Ag
Seeking: Strategic partners | Equity investment | Institutional and retail investors
Cyprium Metals Limited · ASX: CYM
Copper · Pilbara · Upstream
Prospectus status: Pre-Feasibility Studies completed (2024) Cathode production underway (2H 2026) Expansion Feasibility Studies underway
The staged restart reuses a 25,000 tpa SXEW plant, 2.8 Mtpa sulphide concentrator, power station, workshops, accommodation, haul roads and airstrip. Permits have been maintained. The profile reports cathode production starting in the second half of 2026.
Project details and development
Funded Phase 1 re-leaches existing pads, which contain a further 91 kt copper. Phase 2 develops an open pit: oxide feeds SXEW, while sulphide feeds a refurbished and expanded concentrator. The 2024 PFS targets average output of 36,000 tpa copper in concentrate over 20 years.
The concentrator historically had capacity above 50,000 tpa contained copper. Nearby Maroochydore offers separate regional potential: an Inferred resource containing approximately 1.6 million tonnes copper and 84,000 t cobalt. These are not part of the Nifty resource table.
Nifty mineral resources — 2024
Material / category Oxide / transitional — Measured: Tonnage (Mt) 2.6; Cu (%) 1.02; Cu (t) 26,471.
Material / category Oxide / transitional — Indicated: Tonnage (Mt) 17.5; Cu (%) 0.74; Cu (t) 130,081.
Material / category Oxide / transitional — Inferred: Tonnage (Mt) 0.8; Cu (%) 0.70; Cu (t) 5,902.
Material / category Oxide / transitional subtotal: Tonnage (Mt) 21.0; Cu (%) 0.78; Cu (t) 162,000.
Material / category Sulphide — Measured: Tonnage (Mt) 35.5; Cu (%) 0.98; Cu (t) 347,610.
Material / category Sulphide — Indicated: Tonnage (Mt) 63.4; Cu (%) 0.80; Cu (t) 505,685.
Material / category Sulphide — Inferred: Tonnage (Mt) 5.2; Cu (%) 0.43; Cu (t) 22,479.
Material / category Sulphide subtotal: Tonnage (Mt) 104.0; Cu (%) 0.84; Cu (t) 876,000.
Material / category Total: Tonnage (Mt) 125.0; Cu (%) 0.83; Cu (t) 1,038,000.
0.25% Cu cutoff; source rounding retained.
Nifty sulphide ore reserves — 2024
Category Proved: Tonnage (Mt) 22.7; Cu (%) 1.06; Cu (t) 239,000.
Category Probable: Tonnage (Mt) 60.6; Cu (%) 0.85; Cu (t) 514,000.
Category Subtotal: Tonnage (Mt) 83.8; Cu (%) 0.90; Cu (t) 753,000.
The source total is retained; rounded component tonnages do not sum to it.
Tenure and approvals: All permits and approvals granted
Reported capital: Not disclosed
Primary product or commodity: Copper
Other commodities: Co
Seeking: Strategic partnerships | Credit funding | Collaboration with government credit agencies
Japan Australia Fluorite Associates Pty Ltd (JAFA) · ASX: TVN
Fluorine · Kimberley · Upstream
Prospectus status: Feasibility Study completed (2026) Definitive Feasibility Study underway (targeted Q4 2026) First production targeted Q3 2028
Speewah is about 100 km south of Wyndham in the East Kimberley. The JAFA partnership brings together Tivan, ETFS Capital, Sumitomo and JOGMEC to develop an Australian acidspar supply for semiconductors and energy technologies.
Project details and development
The March 2026 feasibility case uses open-pit mining and on-site processing over ten years, averaging 149,000 tpa acidspar at 97% CaF₂ and 15,500 tpa metspar. Sumitomo leads marketing; a binding offtake term sheet covers up to all production for export through Wyndham.
A DFS, environmental approvals, Traditional Owner agreements, funding and operating preparations are progressing toward investment decision. The profile targets DFS completion in Q4 2026 and first production in Q3 2028.
Support includes Federal Major Project Status and A$7.39 million in Australian critical-minerals grant funding. EFA and NAIF engagement and Australia–Japan/Japan–US critical-minerals cooperation are also identified.
Mineral resource — February 2026
Category Indicated: Tonnage (Mt) 27.7; CaF₂ (%) 9.2; CaF₂ (kt) 2,540.
Category Inferred: Tonnage (Mt) 15.5; CaF₂ (%) 6.8; CaF₂ (kt) 1,048.
Category Total: Tonnage (Mt) 43.2; CaF₂ (%) 8.3; CaF₂ (kt) 3,588.
JORC 2012; 2% CaF₂ cutoff.
Included high-grade resource
Category Indicated: Tonnage (Mt) 6.8; CaF₂ (%) 21.9; CaF₂ (kt) 1,501.
Category Inferred: Tonnage (Mt) 2.8; CaF₂ (%) 17.4; CaF₂ (kt) 484.
Category Total: Tonnage (Mt) 9.6; CaF₂ (%) 20.6; CaF₂ (kt) 1,985.
10% CaF₂ cutoff. Included in the broader resource, not additional tonnes.
Tenure and approvals: Mining Leases granted Environmental approvals underway
Reported capital: A$301.3M (pre-production)
Primary product or commodity: Acid-grade fluorspar (acidspar)
Other commodities: Metallurgical-grade fluorspar (metspar)
Seeking: Not required
Nimy Resources · ASX: NIM
Gallium · Goldfields-Esperance · Upstream
Prospectus status: Metallurgical test-work underway (2026) Scoping Study (September 2026)
Mons lies in the Yilgarn Craton, 370 km northeast of Perth and 140 km north-northwest of Southern Cross. Gallium occurs in outcropping chlorite schist; this differs from the bauxite and zinc byproduct routes that supply much of the market.
Project details and development
The November 2025 Inferred estimate uses a 70 ppm Ga₂O₃ cutoff. The profile separately reports exploration targets of 26 Mt at 100 ppm Ga₂O₃ and 100 Mt at 710 ppm TREO; exploration targets are conceptual and must not be added to mineral resources.
Metallurgy began in early 2026, initially targeting concentrate and later gallium metal. Scoping work was scheduled for September 2026. MRIWA co-funding announced in June 2026 supports Curtin University research into local concentration, extraction and refining.
Other prospects include Masson Cu–Ni–PGE, Sneaky Squirrel Cu–Zn–Au VMS and Corporate James gold, where soil anomalism extends 720 m. Ground EM and drilling were planned for 2026. Nimy reports US DIBC membership and a Critical Metals for Critical Industries CRC partnership.
Mineral resource — 2025
Category Indicated: Tonnage (Mt) —; Ga₂O₃ (ppm) —; TREO (ppm) —; HREO (ppm) —; LREO (ppm) —; HREO/TREO (%) —.
Category Inferred: Tonnage (Mt) 7.2; Ga₂O₃ (ppm) 102; TREO (ppm) 538; HREO (ppm) 214; LREO (ppm) 324; HREO/TREO (%) 66.0.
Category Total: Tonnage (Mt) 7.2; Ga₂O₃ (ppm) 102; TREO (ppm) 538; HREO (ppm) 214; LREO (ppm) 324; HREO/TREO (%) 66.0.
The published 66.0% ratio is reproduced as stated; 214/538 does not reconcile to that ratio. The narrative reports 740 t gallium, but the table reports Ga₂O₃ grade. These quantities should not be conflated.
Inferred resource sensitivity to gallium cutoff
Ga₂O₃ cutoff (ppm) 0: Tonnage (Mt) 65.8; Ga₂O₃ (ppm) 41; TREO (ppm) 502; HREO (ppm) 213; LREO (ppm) 289.
Ga₂O₃ cutoff (ppm) 10: Tonnage (Mt) 65.8; Ga₂O₃ (ppm) 41; TREO (ppm) 502; HREO (ppm) 213; LREO (ppm) 289.
Ga₂O₃ cutoff (ppm) 20: Tonnage (Mt) 64.3; Ga₂O₃ (ppm) 42; TREO (ppm) 507; HREO (ppm) 215; LREO (ppm) 292.
Ga₂O₃ cutoff (ppm) 30: Tonnage (Mt) 42.6; Ga₂O₃ (ppm) 50; TREO (ppm) 571; HREO (ppm) 247; LREO (ppm) 324.
Ga₂O₃ cutoff (ppm) 40: Tonnage (Mt) 18.5; Ga₂O₃ (ppm) 72; TREO (ppm) 598; HREO (ppm) 253; LREO (ppm) 344.
Ga₂O₃ cutoff (ppm) 50: Tonnage (Mt) 13.4; Ga₂O₃ (ppm) 82; TREO (ppm) 583; HREO (ppm) 244; LREO (ppm) 339.
Ga₂O₃ cutoff (ppm) 60: Tonnage (Mt) 9.5; Ga₂O₃ (ppm) 93; TREO (ppm) 563; HREO (ppm) 231; LREO (ppm) 332.
Ga₂O₃ cutoff (ppm) 70: Tonnage (Mt) 7.2; Ga₂O₃ (ppm) 102; TREO (ppm) 538; HREO (ppm) 214; LREO (ppm) 324.
Ga₂O₃ cutoff (ppm) 80: Tonnage (Mt) 5.4; Ga₂O₃ (ppm) 112; TREO (ppm) 508; HREO (ppm) 193; LREO (ppm) 315.
Ga₂O₃ cutoff (ppm) 90: Tonnage (Mt) 4.0; Ga₂O₃ (ppm) 121; TREO (ppm) 492; HREO (ppm) 183; LREO (ppm) 308.
Ga₂O₃ cutoff (ppm) 100: Tonnage (Mt) 2.9; Ga₂O₃ (ppm) 131; TREO (ppm) 448; HREO (ppm) 163; LREO (ppm) 285.
Alternative cutoffs describe overlapping material, not additive resources.
Tenure and approvals: Exploration licences granted
Reported capital: TBD
Primary product or commodity: Gallium
Other commodities: Cu, Ni, PGEs, Zn, Au
Seeking: Offtake partners | Strategic partners
Wagerup Gallium Joint Venture (JAGA) · NYSE: AA
Gallium · South West · Midstream
Prospectus status: Final Investment Decision completed (2026) Construction underway
The plant sits beside Alcoa’s existing Wagerup alumina refinery, about 120 km southeast of Perth. It would extract gallium from bauxite already processed for alumina, without additional bauxite mining.
Project details and development
Japan Australia Gallium Associates—JOGMEC and Sojitz—provides half the funding. The Australian and US governments and Alcoa provide the other half. Alcoa will build and operate the facility.
The profile reports investment decision completed in 2026, construction underway and approvals granted, with about 200 construction jobs and 20 permanent roles. It does not disclose plant capacity or capital cost.
Gallium is typically recovered as a byproduct rather than mined alone. This project links an established alumina stream to semiconductor, LED, telecommunications, energy and defence supply chains.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: All approvals granted
Reported capital: Not disclosed
Primary product or commodity: Gallium
Other commodities: Nil
Seeking: Not disclosed
GCM Corporation · ASX: GCM
Graphite · Kimberley · Upstream
Prospectus status: Pre-feasibility Study completed (2025). Definitive Feasibility Study underway.
The June 2025 PFS proposes conventional open-pit mining and flotation in the Kimberley. Annual feed of 380,000 tonnes would produce about 13,500 tonnes of flake and micronised graphite concentrate, with reported product purity of roughly 95–97% TGC and recovery above 90%.
Project details and development
Sealed roads and Wyndham deep-water port provide export access. More than A$15 million has been spent on drilling and metallurgy. The Probable ore reserve comes from two of five resource deposits; potential output growth depends on project and customer development.
The profile also cites an exploration target of 111–157 Mt at 3.5–5% TGC. This is conceptual exploration potential, not a mineral resource or ore reserve.
Reported economics are A$340 million pre-tax NPV8 and A$235 million post-tax NPV8; pre-tax IRR is 29.6% and post-tax IRR 25.3%. Initial capital is US$38.9 million. Sixteen granted tenements are reported under NH3 Clean Energy and subsidiaries; a DFS is underway.
Mineral resources — 30 June 2025
Category Indicated: Tonnage (Mt) 21.66; Grade (% TGC) 4.22; Graphite (kt) 914.15.
Category Inferred: Tonnage (Mt) 10.93; Grade (% TGC) 4.33; Graphite (kt) 473.12.
Category Total: Tonnage (Mt) 32.59; Grade (% TGC) 4.25; Graphite (kt) 1,387.27.
JORC 2012; 2% and 3% TGC cutoffs.
Ore reserves — 30 June 2025
Category Probable: Tonnage (Mt) 11.13; Grade (% TGC) 3.88; Graphite (kt) 432.1.
Category Total: Tonnage (Mt) 11.13; Grade (% TGC) 3.88; Graphite (kt) 432.1.
JORC 2012; 2% TGC cutoff. Resources and reserves are different estimates and must not be added.
Tenure and approvals: Sixteen granted tenements held by NH3 Clean Energy and its subsidiaries.
Reported capital: US$38.9M (PFS 2025)
Primary product or commodity: Graphite
Other commodities: Nil
Seeking: Offtake partners | Investment
International Graphite Limited · ASX: IG6
Graphite · South West · Midstream
Prospectus status: Construction underway (targeted Q2 2027) Commissioning targeted Q3 2027
The Collie facility is about 200 km south of Perth. International Graphite has operated a qualification-scale R&D plant there since 2022, producing micronised and spheroidised graphite for customer testing.
Project details and development
Commercial capacity is 4,300–6,400 tpa across standard, high-purity and superfine powders from 5–45 µm. The profile targets construction in Q2 2027 and commissioning in Q3 2027, while the narrative also refers to mid-2027. Uses include industrial materials, energy storage, electronics and defence.
Non-binding Wogen Pacific heads of terms contemplate at least 3,000 tpa Asia-Pacific sales and up to 10,000 tpa feedstock supply. The Alkeemia joint venture at Porto Marghera provides a European processing base, with both facilities expected to produce by end-2027.
Government funding totals A$17.2 million. Springdale is a separate potential feedstock source, with a reported 49.3 Mt resource at 6.5% TGC and more than 30 years’ estimated mine life. Those tonnes belong to Springdale, not the Collie processing site.
Associated Springdale feedstock resource — narrative figure
Asset / estimate Springdale / category breakdown not provided in profile: Tonnage (Mt) 49.3; TGC (%) 6.5.
Separate upstream asset cited as feedstock optionality; not a mineral resource at Collie. The prospectus does not provide a category table here.
Tenure and approvals: All regulatory approvals granted
Reported capital: US$5.6M
Primary product or commodity: Micronised graphite products
Other commodities: Nil
Seeking: Strategic partnerships | Offtake partners | Project investment
Lost Sands Pty Ltd · ASX: DRX
Heavy Mineral Sands · Goldfields-Esperance · Upstream
Prospectus status: Feasibility Study completed (2018) Study update underway
Lost Sands, a Diatreme subsidiary, discovered Cyclone in 2007. The April 2017 resource contains 203 Mt at 2.3% heavy minerals; 77% is Measured and 23% Indicated. The June 2016 ore reserve contains 138 Mt at 2.6% heavy minerals. Zircon is the principal value contributor, with titanium coproducts.
Project details and development
The mine concept uses a low strip ratio, relocatable dozer trap and conveyors. A conventional wet concentrator would recover heavy minerals by gravity separation. HiTi and altered-ilmenite products contain mixtures of titanium minerals.
The company reports granted mining tenure, a Native Title agreement and primary approvals, while environmental and transport approvals continue through subsequent processes. It reports no competing land use. An update to the 2018 feasibility study is underway.
Heavy-mineral resource and reserve scenarios
Estimate / category Resource / Measured: HM cutoff (%) 2; Material (Mt) 69; HM (%) 3.7; HM (Mt) 2.58; Slime (%) 3.6; Oversize (%) 3.8; Zircon (%) 1.06; Rutile (%) 0.11; Leucoxene (%) 0.24; HiTi (%) 0.88; Alt ilmenite (%) 0.45; Si TiOx (%) 0.82; Zircon (kt) 735.
Estimate / category Resource / Measured: HM cutoff (%) 1.5; Material (Mt) 102; HM (%) 3.1; HM (Mt) 3.14; Slime (%) 3.9; Oversize (%) 4.4; Zircon (%) 0.88; Rutile (%) 0.09; Leucoxene (%) 0.20; HiTi (%) 0.73; Alt ilmenite (%) 0.38; Si TiOx (%) 0.67; Zircon (kt) 896.
Estimate / category Resource / Measured: HM cutoff (%) 1; Material (Mt) 156; HM (%) 2.4; HM (Mt) 3.81; Slime (%) 4.2; Oversize (%) 5.0; Zircon (%) 0.69; Rutile (%) 0.07; Leucoxene (%) 0.16; HiTi (%) 0.58; Alt ilmenite (%) 0.30; Si TiOx (%) 0.53; Zircon (kt) 1,079.
Estimate / category Resource / Indicated: HM cutoff (%) 2; Material (Mt) 13; HM (%) 3.2; HM (Mt) 0.41; Slime (%) 3.8; Oversize (%) 4.4; Zircon (%) 0.66; Rutile (%) 0.07; Leucoxene (%) 0.18; HiTi (%) 1.06; Alt ilmenite (%) 0.55; Si TiOx (%) 0.60; Zircon (kt) 83.
Estimate / category Resource / Indicated: HM cutoff (%) 1.5; Material (Mt) 24; HM (%) 2.5; HM (Mt) 0.60; Slime (%) 4.1; Oversize (%) 5.0; Zircon (%) 0.52; Rutile (%) 0.05; Leucoxene (%) 0.12; HiTi (%) 0.84; Alt ilmenite (%) 0.41; Si TiOx (%) 0.46; Zircon (kt) 123.
Estimate / category Resource / Indicated: HM cutoff (%) 1; Material (Mt) 48; HM (%) 1.9; HM (Mt) 0.89; Slime (%) 4.4; Oversize (%) 5.1; Zircon (%) 0.38; Rutile (%) 0.04; Leucoxene (%) 0.09; HiTi (%) 0.62; Alt ilmenite (%) 0.30; Si TiOx (%) 0.34; Zircon (kt) 183.
Estimate / category Resource / Total: HM cutoff (%) 2; Material (Mt) 82; HM (%) 3.6; HM (Mt) 2.99; Slime (%) 3.6; Oversize (%) 3.9; Zircon (%) 1.00; Rutile (%) 0.10; Leucoxene (%) 0.23; HiTi (%) 0.91; Alt ilmenite (%) 0.47; Si TiOx (%) 0.79; Zircon (kt) 818.
Estimate / category Resource / Total: HM cutoff (%) 1.5; Material (Mt) 126; HM (%) 3.0; HM (Mt) 3.75; Slime (%) 3.9; Oversize (%) 4.5; Zircon (%) 0.81; Rutile (%) 0.08; Leucoxene (%) 0.18; HiTi (%) 0.75; Alt ilmenite (%) 0.38; Si TiOx (%) 0.63; Zircon (kt) 1,019.
Estimate / category Resource / Total: HM cutoff (%) 1; Material (Mt) 203; HM (%) 2.3; HM (Mt) 4.70; Slime (%) 4.2; Oversize (%) 5.0; Zircon (%) 0.62; Rutile (%) 0.06; Leucoxene (%) 0.14; HiTi (%) 0.59; Alt ilmenite (%) 0.30; Si TiOx (%) 0.49; Zircon (kt) 1,262.
Estimate / category Reserve / Probable: HM cutoff (%) 0.4; Material (Mt) 138; HM (%) 2.6; HM (Mt) 3.52; Slime (%) 4.6; Oversize (%) 5.3; Zircon (%) 0.72; Rutile (%) 0.07; Leucoxene (%) 0.17; HiTi (%) 0.59; Alt ilmenite (%) 0.32; Si TiOx (%) 0.57; Zircon (kt) 990.
Estimate / category Reserve / Total: HM cutoff (%) 0.4; Material (Mt) 138; HM (%) 2.6; HM (Mt) 3.52; Slime (%) 4.6; Oversize (%) 5.3; Zircon (%) 0.72; Rutile (%) 0.07; Leucoxene (%) 0.17; HiTi (%) 0.59; Alt ilmenite (%) 0.32; Si TiOx (%) 0.57; Zircon (kt) 990.
Resources include reserves. Cutoff scenarios overlap and are not additive. Constant SG 1.7; slime typically <53 µm, oversize >2 mm. Leucoxene: 85–95% TiO₂; HiTi: 70–85%; altered ilmenite: <70%; Si TiOx: >10% silica-rich titanium minerals. Resource assemblage: 27% zircon, 3% rutile, 6% leucoxene, 26% HiTi, 13% altered ilmenite, 21% Si TiOx. Reserve assemblage: 28%, 3%, 7%, 23%, 13%, 22%, respectively.
Tenure and approvals: Mining Lease granted Native Title agreement granted Environmental approvals in progress
Reported capital: ~US$172M
Primary product or commodity: Zirconium
Other commodities: Ti
Seeking: Offtake partners | Equity | Strategic partners
Impact Minerals Limited · ASX: IPT
High Purity Alumina · Goldfields-Esperance · Upstream
Prospectus status: Pre-Feasibility Study completed (2025) Definitive Feasibility Study underway Commercial scale facility targeted (2029)
Impact holds 80% of Lake Hope, about 500 km east of Perth. Alumina-rich evaporite and clay occur in the upper two metres of a playa lake. Shallow free-dig mining avoids blasting and crushing, with limited beneficiation before transport to Kwinana.
Project details and development
The proposed refinery uses the patented Playa One low-temperature sulphuric-acid process. Testwork has achieved around 41 ppm total contaminants, equivalent to 99.996% Al₂O₃. The intended product is 4N HPA, with sulphate of potash and aluminium chloride hexahydrate as potential coproducts.
The June 2025 PFS models 10,000 tpa HPA over 33 years after a two-year ramp-up. It reports US$5,860/t operating costs before byproduct credits, potentially below US$4,500/t with potash recovery.
The profile gives both US-dollar and Australian-dollar study figures: overview NPV10 US$722 million and capital US$161 million; project-details NPV10 A$1.165 billion and capital A$259 million. They are retained in their stated currencies. An A$2.87 million CRC-P grant supports pilot work with CPC Engineering and Edith Cowan University, alongside R&D tax rebates. Commercial scale is targeted for 2029.
Mineral resources — source 2025 table
Category Measured: Tonnage (Mt) 0.73; Al₂O₃ (%) 25.8; Al₂O₃ (t) 189,000.
Category Indicated: Tonnage (Mt) 1.88; Al₂O₃ (%) 25.0; Al₂O₃ (t) 471,000.
Category Inferred: Tonnage (Mt) 0.17; Al₂O₃ (%) 23.1; Al₂O₃ (t) 40,000.
Category Total: Tonnage (Mt) 3.50; Al₂O₃ (%) 25.1; Al₂O₃ (t) 880,000.
JORC 2012. Source cites the 18 November 2024 Measured resource release and June 2023 maiden total. The printed component tonnes total 2.78 Mt, not 3.50 Mt; values are retained as published pending clarification, not reconciled by assumption.
Ore reserves — June 2025 PFS
Category Proved: Tonnage (Mt) 0.61; Al₂O₃ (%) 25.9; Al₂O₃ (t) 159,000.
Category Probable: Tonnage (Mt) 1.12; Al₂O₃ (%) 26.0; Al₂O₃ (t) 290,000.
Category Total: Tonnage (Mt) 1.70; Al₂O₃ (%) 26.0; Al₂O₃ (t) 449,000.
JORC 2012. Source rounding retained.
Tenure and approvals: Mining Lease under application Environmental approvals underway Traditional Owner agreements underway
Reported capital: US$160.6M pre-production
Primary product or commodity: High Purity Alumina (HPA)
Other commodities: Sulphate of potash (SOP) Aluminium chloride hexahydrate (ACH)
Seeking: Offtake partners | Strategic partnerships | Project-level equity | Project debt | Downstream processing and qualification partners
Cadoux Limited · ASX: CCM
High Purity Alumina · Perth Metro · Midstream
Prospectus status: Definitive Feasibility Study completed (2021) Final Investment Decision underway (Q2 2027)
Cadoux plans a Kwinana refinery producing 4N–5N alumina under its premiumHPA brand. Applications include battery separator coatings, LEDs/MicroLEDs, semiconductor components and advanced ceramics.
Project details and development
The flowsheet targets low impurities and controlled particle size, with reagent recycling and efficient water and energy use. Development is modular and remains dependent on approvals, finance and offtake.
The European SAFELOOP consortium qualified the product after two years of electrochemical, thermal-stability, cycle-life and safety testing. The 2021 DFS models 10,000 tpa output and US$201 million capital.
WA’s Industry Attraction Fund has provided A$3 million. A mining lease covers wholly owned feedstock supply; the profile targets investment decision for Q2 2027. No classified feedstock-resource table is included in this profile.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: Mining Lease granted for 100 per cent for HPA feedstock supply
Reported capital: US$201M (2021 DFS)
Primary product or commodity: High Purity Alumina (HPA)
Other commodities: Critical Minerals
Seeking: Funding | Finance options
Develop Global Limited · ASX: DVP
Lithium · Goldfields-Esperance · Upstream
Prospectus status: Operating mine Feasibility Study for Stage 2 underground expansion underway
Develop owns the project outright. It lies 130 km south of Kalgoorlie beside sealed-road, rail, water and gas infrastructure. Construction of the Cade open pit began in August 2026; initial direct-shipping-ore sales were scheduled for the December quarter.
The source header describes an operating mine, while its narrative schedules first DSO sales for the December 2026 quarter. Both statements describe the prospectus snapshot, not verified current production.
Project details and development
The proposed DSO operation targets more than 750,000 tpa at 1.2% Li₂O, exported through Esperance. A US$400 million Trafigura financing and offtake package covers both Pioneer Dome and the separate Sulphur Springs project; it is not a Pioneer-only capital estimate. DSO terms include a time/volume-linked floor price and pricing choices.
Stage 2 underground studies began during the September 2026 quarter, with investment decision expected late in 2026 subject to lithium markets. The landholding includes Cade–Davy–Heller lithium–tantalum pegmatites, the previously mined Sinclair caesium–beryllium–lithium pegmatite and other outcropping targets.
Mineral resources — 30 June 2026
Category Indicated: Tonnage (Mt) 8.6; Li₂O (%) 1.23; Ta₂O₅ (ppm) 55; Fe₂O₃ (%) 0.46; Li₂O (t) 105,800.
Category Inferred: Tonnage (Mt) 2.6; Li₂O (%) 0.92; Ta₂O₅ (ppm) 62; Fe₂O₃ (%) 0.55; Li₂O (t) 23,900.
Category Total: Tonnage (Mt) 11.2; Li₂O (%) 1.17; Ta₂O₅ (ppm) 57; Fe₂O₃ (%) 0.48; Li₂O (t) 129,700.
0.3% Li₂O cutoff.
Tenure and approvals: All leases and approvals granted
Reported capital: Not disclosed
Primary product or commodity: Lithium DSO
Other commodities: Ta
Seeking: Not disclosed
Global Lithium Resources · ASX: GL1
Lithium · Goldfields-Esperance · Upstream
Prospectus status: Definitive Feasibility Study completed (2025) Final Investment Decision underway (Q4 2026)
Global Lithium owns Manna outright on Kakarra Country, 110 km east of Kalgoorlie. The December 2025 DFS models 14.3 years of mining and around 236,000 tpa SC5.5 spodumene concentrate.
Project details and development
The proposed Nova-Bollinger acquisition would provide a 1.8 Mtpa plant, power station and camp about 170 km away by road. Manna ore would be hauled there for crushing, sorting and processing, with exports through Esperance. The acquisition could reduce new-build capital and shorten the development schedule; it remains a proposed pathway in the profile.
About 70% of output is contracted. A US$75 million Lopal prepayment facility is committed subject to a positive investment decision. Mining leases, Native Title agreement and mine-development approval are reported, with further permits submitted.
Mineral resources
Category Indicated: Tonnage (Mt) 32.9; Li₂O (%) 1.04; Ta₂O₅ (ppm) 52.
Category Inferred: Tonnage (Mt) 18.7; Li₂O (%) 0.92; Ta₂O₅ (ppm) 50.
Category Total: Tonnage (Mt) 51.6; Li₂O (%) 1.00; Ta₂O₅ (ppm) 52.
Ore reserves
Mining area / category Open cut / Proved: Tonnage (Mt) —; Li₂O (%) —; Li₂O (t) —.
Mining area / category Open cut / Probable: Tonnage (Mt) 14.4; Li₂O (%) 0.93; Li₂O (t) 133,920.
Mining area / category Open cut subtotal: Tonnage (Mt) 14.4; Li₂O (%) 0.93; Li₂O (t) 133,920.
Mining area / category Underground / Proved: Tonnage (Mt) —; Li₂O (%) —; Li₂O (t) —.
Mining area / category Underground / Probable: Tonnage (Mt) 5.0; Li₂O (%) 0.84; Li₂O (t) 42,000.
Mining area / category Underground subtotal: Tonnage (Mt) 5.0; Li₂O (%) 0.84; Li₂O (t) 42,000.
Mining area / category Combined total: Tonnage (Mt) 19.4; Li₂O (%) 0.91; Li₂O (t) 175,920.
Tenure and approvals: Mining leases granted Native title signed Mine development proposal approved Project approvals/permits submitted
Reported capital: US$308M (2025 DFS)
Primary product or commodity: Spodumene Concentrate (SC5.5)
Other commodities: DSO Spodumene
Seeking: Equity financing | Strategic investment partnerships
MML JV (Mineral Resources Limited / Ganfeng Lithium Group Co) · ASX: MIN
Lithium · Goldfields-Esperance · Upstream
Prospectus status: In operation since 2016 with multiple expansions and optimisations
The MinRes/Ganfeng joint venture is split equally. MinRes operates Mt Marion under a life-of-mine build-own-operate mining-services arrangement, 70 km south of Kalgoorlie.
Project details and development
The 2024 expansion brought crushing and dense-media capacity to 500,000 tpa SC6. Concentrate goes by road to Esperance and then China. Existing facilities include open pits, tailings, workshops, grid and diesel power, an underground portal and a camp for up to 500 people.
An exploration decline started in 2024 but entered care and maintenance in December because of market conditions. Approved underground development is scheduled to restart in Q1 FY27 through two in-pit portals, with Macmahon contracted. A flotation plant is intended to add 100,000 tpa SC6-equivalent output and lift average product specification to 5%, commissioning in Q2 FY28.
The company identifies 75% of its tenure as unexplored and plans near-mine low-strip and underground-extension targets. MinRes Air transports workers between Perth and Kalgoorlie.
Mineral resources — 2026
Category Measured: Tonnage (Mt) —; Li₂O (%) —.
Category Indicated: Tonnage (Mt) 54.7; Li₂O (%) 1.4.
Category Inferred: Tonnage (Mt) 11.4; Li₂O (%) 1.1.
Category Total: Tonnage (Mt) 66.1; Li₂O (%) 1.3.
Ore reserves — 2026
Category Proved: Tonnage (Mt) 0.3; Li₂O (%) 1.2.
Category Probable: Tonnage (Mt) 35.4; Li₂O (%) 1.4.
Category Total: Tonnage (Mt) 35.7; Li₂O (%) 1.4.
Tenure and approvals: All approvals and leases granted
Reported capital: N/A
Primary product or commodity: Lithium Spodumene
Other commodities: Nil
Seeking: Not required
MARBL JV (Mineral Resources Limited / Albemarle) · ASX: MIN
Lithium · Pilbara · Upstream
Prospectus status: Operating since 2010, progressing studies for mining and processing capabilities
MinRes and Albemarle each own 50% of MARBL, with MinRes managing exploration, mining and processing. Wodgina is 120 km south of Port Hedland.
Project details and development
The site has an open pit, flotation concentrator, gas power, borefields, workshops, tailings facilities and a camp for up to 900 workers. Capacity is at least 750,000 tpa SC6-equivalent product, with a 5.5% target grade; concentrate is trucked to Port Hedland for China-bound export.
Open-pit reserves support current operations while the main orebody remains open at depth. Underground options and a plant-expansion PFS are under assessment, alongside untested targets elsewhere on the tenure. The profile reports ramp-up toward full output and MinRes selling its unencumbered concentrate share at spot prices. MinRes Air serves the workforce from Perth and Brisbane.
Mineral resources — 2026
Category Measured: Tonnage (Mt) —; Li₂O (%) —.
Category Indicated: Tonnage (Mt) 182.1; Li₂O (%) 1.2.
Category Inferred: Tonnage (Mt) 35.3; Li₂O (%) 1.2.
Category Total: Tonnage (Mt) 217.4; Li₂O (%) 1.2.
Ore reserves — 2026
Category Proved: Tonnage (Mt) 0.4; Li₂O (%) 1.2.
Category Probable: Tonnage (Mt) 164.3; Li₂O (%) 1.2.
Category Total: Tonnage (Mt) 164.7; Li₂O (%) 1.2.
Tenure and approvals: All approvals and leases granted
Reported capital: N/A
Primary product or commodity: Lithium Spodumene
Other commodities: Nil
Seeking: Not required
PLS Group Limited · ASX: PLS
Lithium · Pilbara · Upstream
Prospectus status: Operating P2000 Expansion feasibility underway
PLS owns Pilgangoora outright, 140 km southeast of Port Hedland on Nyamal and Kariyarra Country. Installed spodumene capacity is about 1 Mtpa, with a reported 31-year mine life and a large ore-sorting installation. The prospectus attributes roughly 9% of global lithium demand to the operation.
Project details and development
The P2000 PFS examines capacity above 2 Mtpa. It models about 1.9 Mtpa average output over the first ten years and above 2 Mtpa in the first six years after ramp-up. Timing depends on the feasibility study due in the December quarter of FY27. The US$1.2 billion capital figure relates to this expansion, not the existing mine.
Downstream links include the POSCO lithium-hydroxide joint venture in South Korea and a Pilgangoora midstream demonstration facility opened with Calix during FY26. The latter uses electric calcination for lithium-phosphate production. PLS also supplies tantalum.
Mineral resources — 2025
Material / category In situ / Measured: Tonnage (Mt) 18; Li₂O (%) 1.33; Ta₂O₅ (ppm) 111; Fe₂O₃ (%) 0.41.
Material / category In situ / Indicated: Tonnage (Mt) 349; Li₂O (%) 1.29; Ta₂O₅ (ppm) 121; Fe₂O₃ (%) 0.54.
Material / category In situ / Inferred: Tonnage (Mt) 70; Li₂O (%) 1.25; Ta₂O₅ (ppm) 134; Fe₂O₃ (%) 0.58.
Material / category In situ subtotal: Tonnage (Mt) 436; Li₂O (%) 1.29; Ta₂O₅ (ppm) 122; Fe₂O₃ (%) 0.54.
Material / category Stockpile / Measured: Tonnage (Mt) 1; Li₂O (%) 1.07; Ta₂O₅ (ppm) 113; Fe₂O₃ (%) 0.69.
Material / category Stockpile / Indicated: Tonnage (Mt) 8; Li₂O (%) 0.93; Ta₂O₅ (ppm) 83; Fe₂O₃ (%) 3.37.
Material / category Stockpile / Inferred: Tonnage (Mt) —; Li₂O (%) —; Ta₂O₅ (ppm) —; Fe₂O₃ (%) —.
Material / category Stockpile subtotal: Tonnage (Mt) 9; Li₂O (%) 0.95; Ta₂O₅ (ppm) 87; Fe₂O₃ (%) 3.04.
Material / category Combined / Measured: Tonnage (Mt) 19; Li₂O (%) 1.31; Ta₂O₅ (ppm) 111; Fe₂O₃ (%) 0.43.
Material / category Combined / Indicated: Tonnage (Mt) 356; Li₂O (%) 1.29; Ta₂O₅ (ppm) 120; Fe₂O₃ (%) 0.60.
Material / category Combined / Inferred: Tonnage (Mt) 70; Li₂O (%) 1.25; Ta₂O₅ (ppm) 134; Fe₂O₃ (%) 0.58.
Material / category Combined subtotal: Tonnage (Mt) 445; Li₂O (%) 1.28; Ta₂O₅ (ppm) 122; Fe₂O₃ (%) 0.59.
0.2% Li₂O cutoff; source rounding retained.
Ore reserves — 2025
Material / category In situ / Proved: Tonnage (Mt) 10.3; Li₂O (%) 1.28; Ta₂O₅ (ppm) 127; Fe₂O₃ (%) 1.03.
Material / category In situ / Probable: Tonnage (Mt) 188.1; Li₂O (%) 1.18; Ta₂O₅ (ppm) 101; Fe₂O₃ (%) 1.01.
Material / category In situ total: Tonnage (Mt) 198.4; Li₂O (%) 1.18; Ta₂O₅ (ppm) 103; Fe₂O₃ (%) 1.01.
Material / category Stockpile / Proved: Tonnage (Mt) 1.1; Li₂O (%) 1.07; Ta₂O₅ (ppm) 113; Fe₂O₃ (%) 0.69.
Material / category Stockpile / Probable: Tonnage (Mt) 7.7; Li₂O (%) 0.93; Ta₂O₅ (ppm) 83; Fe₂O₃ (%) 3.37.
Material / category Stockpile total: Tonnage (Mt) 8.8; Li₂O (%) 0.95; Ta₂O₅ (ppm) 87; Fe₂O₃ (%) 3.04.
Material / category Combined / Proved: Tonnage (Mt) 11.4; Li₂O (%) 1.26; Ta₂O₅ (ppm) 125; Fe₂O₃ (%) 1.00.
Material / category Combined / Probable: Tonnage (Mt) 195.8; Li₂O (%) 1.17; Ta₂O₅ (ppm) 100; Fe₂O₃ (%) 1.10.
Material / category Combined total: Tonnage (Mt) 207.2; Li₂O (%) 1.17; Ta₂O₅ (ppm) 102; Fe₂O₃ (%) 1.10.
The reserve heading states 0.3% Li₂O cutoff, while its in-situ and stockpile sublabels show ≥0.2%. This source inconsistency is retained for context.
Tenure and approvals: Mining Lease granted Regulatory approvals in place
Reported capital: P2000 CAPEX US$1.2B (July 2024)
Primary product or commodity: Spodumene Concentrate
Other commodities: Ta
Seeking: Offtake partners | Strategic partners
Wildcat Resources Limited · ASX: WC8
Lithium · Pilbara · Upstream
Prospectus status: Pre-Feasibility Study completed (2025) Definitive Feasibility Study underway (due 2027)
Tabba Tabba is on granted mining leases about 80 km by road from Port Hedland, near Pilgangoora and Wodgina. Planned products include spodumene, petalite and tantalum concentrates.
Project details and development
The 2025 PFS targets SC5.5 output of 265 ktpa in Stage 1 and 595 ktpa in Stage 2. The DFS, due in 2027, considers earlier processing capacity, mine schedules, haulage and infrastructure, and adding Chewy, Han, Hutt and Tabba Tabba to Leia and Luke. First production is targeted for calendar 2028.
Indicative economics at US$1,384/t spodumene are approximately A$1.2 billion post-tax NPV, A$3.2 billion post-tax free cash flow and 23% IRR. The narrative gives A$687 million development capital; the header separately reports US$485 million. Funding options include critical-minerals programmes, debt, equity and offtake partners.
Bolt Cutter Central, 10 km away, and prospective surrounding tenure provide additional exploration potential rather than guaranteed extra reserves or mine life.
Mineral resources — 2024
Category Indicated: Tonnage (Mt) 70.0; Li₂O (%) 1.01; Li₂O (t) 709,100.
Category Inferred: Tonnage (Mt) 4.1; Li₂O (%) 0.76; Li₂O (t) 31,100.
Category Total: Tonnage (Mt) 74.1; Li₂O (%) 1.00; Li₂O (t) 740,200.
Ore reserves — 2025
Category Probable: Tonnage (Mt) 46.3; Li₂O (%) 0.99; Li₂O (t) 456,000.
Category Total: Tonnage (Mt) 46.3; Li₂O (%) 0.99; Li₂O (t) 456,000.
Tenure and approvals: Mining Leases granted Environmental approvals submitted
Reported capital: US$485M (PFS 2025)
Primary product or commodity: Lithium
Other commodities: Ta
Seeking: Strategic partners | Government support | Equity | Offtake partners
Black Canyon Ltd · ASX: BCA
Manganese · Pilbara · Upstream
Prospectus status: Scoping Study completed (2024) Pre-Feasibility underway
Black Canyon has more than 2,000 km² across Balfour and the Oakover Basin, through wholly owned and joint-venture licences. Most mineralisation is outcropping or less than 20 m deep.
Project details and development
The 315 Mt resource contains 10.5% Mn; almost 87% is Measured or Indicated. Dense-media separation offers potential to upgrade material toward 32% Mn from approximately 10% in-situ grades. The projects could support manganese-oxide supply over multiple decades, subject to development studies.
Downstream test samples have produced high-purity manganese sulphate monohydrate. The 2024 scoping work is followed by pre-feasibility studies; a mining licence is under application. Flanagan Bore deposits are 75%-owned.
Balfour mineral resources — 22 October 2025
Deposit / category FB3 / Measured: Material (Mt) 52; In-situ Mn (Mt) 5.5; Mn (%) 10.5; Fe (%) 10.4; Si (%) 16.9; Al (%) 4.3.
Deposit / category LR1 / Measured: Material (Mt) 47; In-situ Mn (Mt) 4.9; Mn (%) 10.3; Fe (%) 8.4; Si (%) 16.7; Al (%) 4.6.
Deposit / category Measured total: Material (Mt) 100; In-situ Mn (Mt) 10.4; Mn (%) 10.4; Fe (%) 9.4; Si (%) 16.8; Al (%) 4.4.
Deposit / category KR1 / Indicated: Material (Mt) 79; In-situ Mn (Mt) 7.8; Mn (%) 10.0; Fe (%) 7.9; Si (%) 18.0; Al (%) 5.4.
Deposit / category KR2 / Indicated: Material (Mt) 23; In-situ Mn (Mt) 2.6; Mn (%) 11.5; Fe (%) 10.7; Si (%) 19.2; Al (%) 5.1.
Deposit / category FB3 / Indicated: Material (Mt) 63; In-situ Mn (Mt) 6.3; Mn (%) 10.0; Fe (%) 9.6; Si (%) 16.8; Al (%) 4.4.
Deposit / category LR1 / Indicated: Material (Mt) 8; In-situ Mn (Mt) 0.9; Mn (%) 11.3; Fe (%) 9.4; Si (%) 6.9; Al (%) 1.8.
Deposit / category Indicated total: Material (Mt) 173; In-situ Mn (Mt) 17.7; Mn (%) 10.2; Fe (%) 9.0; Si (%) 17.2; Al (%) 4.8.
Deposit / category KR2 / Inferred: Material (Mt) 2; In-situ Mn (Mt) 0.3; Mn (%) 11.1; Fe (%) 11.0; Si (%) 19.4; Al (%) 6.0.
Deposit / category Balfour East / Inferred: Material (Mt) 32; In-situ Mn (Mt) 3.9; Mn (%) 11.9; Fe (%) 8.5; Si (%) 18.6; Al (%) 4.9.
Deposit / category Damsite / Inferred: Material (Mt) 7; In-situ Mn (Mt) 0.9; Mn (%) 12.1; Fe (%) 9.6; Si (%) 17.2; Al (%) 4.2.
Deposit / category Inferred total: Material (Mt) 42; In-situ Mn (Mt) 5.0; Mn (%) 11.9; Fe (%) 8.9; Si (%) 18.4; Al (%) 4.9.
Deposit / category Grand total: Material (Mt) 315; In-situ Mn (Mt) 33.1; Mn (%) 10.5; Fe (%) 9.1; Si (%) 17.2; Al (%) 4.7.
7% Mn cutoff. Rounded source figures; Flanagan Bore is 75%-owned by Black Canyon.
Tenure and approvals: Exploration licences granted Mining licence under application
Reported capital: US$35–65M
Primary product or commodity: Manganese ore
Other commodities: Nil
Seeking: Offtake partners | Strategic partnerships
Element 25 Limited · ASX: E25; OTQCX: ELMTF
Manganese · Pilbara · Upstream
Prospectus status: Under construction (Commissioning Scheduled Q1 CY 2027)
The Butcherbird expansion targets around 1.1 Mtpa manganese concentrate. Changes include a primary mineral sizer, dense-media drum, tailings screen and thickener. Major equipment procurement and construction are progressing toward Q1 2027 commissioning.
Project details and development
The reserve supports approximately 18 years of concentrate output. The profile references up to A$50 million of NAIF senior debt support in earlier company materials; this should not be read as an unconditional new financing commitment.
Concentrate is intended to supply Element 25’s proposed Louisiana refinery, designed for 65,000 tpa battery-grade HPMSM for North American electric-vehicle and energy-storage markets. The Australian mine expansion and the US refinery are distinct projects in the proposed supply chain.
Mineral resources — 2025
Category Measured: Tonnage (Mt) 13.0; Mn (%) 11.3; Si (%) 20.5; Fe (%) 11.5; Al (%) 5.7.
Category Indicated: Tonnage (Mt) 116.2; Mn (%) 10.1; Si (%) 21.0; Fe (%) 11.4; Al (%) 6.0.
Category Inferred: Tonnage (Mt) 145.2; Mn (%) 9.8; Si (%) 20.6; Fe (%) 11.5; Al (%) 5.9.
Category Total / average: Tonnage (Mt) 274.2; Mn (%) 10.0; Si (%) 20.8; Fe (%) 11.5; Al (%) 5.9.
Published totals retained. Component tonnages sum to 274.4 Mt, rather than the printed 274.2 Mt.
Ore reserves — 2025
Category Proved: Tonnage (Mt) 11.9; Mn (%) 11.8.
Category Probable: Tonnage (Mt) 89.5; Mn (%) 10.2.
Category Total / average: Tonnage (Mt) 101.4; Mn (%) 10.4.
Narrative reports a less-rounded total grade of 10.36% Mn.
Tenure and approvals: Mining Lease granted
Reported capital: US$50M (2026) Butcherbird
Primary product or commodity: Manganese Concentrate
Other commodities: Si, Fe, HPMSM
Seeking: Debt equity | Project level equity | Offtake partners for the Louisiana HPMSM Project.
Firebird Metals Limited · ASX: FRB
Manganese · Pilbara · Midstream
Prospectus status: Scoping Study completed (2023) HPMSM Feasibility Study completed (2024)
Firebird combines Oakover’s manganese resource base with proprietary processing and battery-materials technology. R&D since 2023 covers HPMSM, precursor cathode active materials and cathode materials including lithium manganese iron phosphate and lithium manganese rich chemistries.
Project details and development
A Perth Australian Demonstration Plant will test processes, optimise manufacturing and produce customer samples and operating data. Initial HPMSM capacity is approximately 10 kg/day, with smaller p-CAM/CAM qualification campaigns; this is demonstration scale, not commercial mine output.
The plant received A$2 million under ARENA’s Battery Breakthrough Initiative. Commercial options include licensing, strategic partnerships, joint ventures and future battery-materials production.
The source separates a 2023 manganese scoping case (US$80 million) from a 2024 HPMSM feasibility case (US$83.5 million). It publishes no resource-category table for Oakover in this midstream profile.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: Mining Lease granted, Environmental work ongoing
Reported capital: Mn - US$80M (2023) HPMSM - US$83.5M
Primary product or commodity: Manganese Concentrate
Other commodities: High Purity Manganese Sulphate (HPMSM), p-CAM and CAM
Seeking: Strategic partnerships
Alliance Nickel Limited · ASX: AXN
Nickel · Goldfields-Esperance · Upstream
Prospectus status: Definitive Feasibility Study completed (2024) Final Investment Decision underway
Alliance owns NiWest through its subsidiary, about 50 km southeast of Leonora beside Murrin Murrin. Roads, rail, gas pipelines and Esperance/Fremantle port access support the proposed development.
The capital-cost header gives US$1.65 billion and separately “current exchange rate ~US$1.07B”. These are conflicting source labels, so no single converted capital headline is presented. Cobalt grades are rounded to 0.1% in the resource table; retained contained-metal figures should not be recalculated from those rounded grades.
Project details and development
The November 2024 DFS uses open-pit mining and heap leaching to make battery-grade nickel and cobalt sulphates. A 35-year processing schedule comprises 27 years of higher-grade mining and eight years treating lower-grade stockpiles. Nameplate throughput is 2.3 Mtpa, with a 2.5 Mtpa maximum. Vat leaching is being tested as a capital optimisation.
The first 12 years average approximately 20,000 tpa nickel and 1,600 tpa cobalt, with AISC of US$4.84/lb nickel. Reported post-tax NPV8 is A$2.2 billion, post-tax IRR 17.6% and payback five years from first production. Federal Major Project Status was granted in May 2024.
Mineral resources — November 2023
Category Measured: Tonnage (Mt) 17.77; Ni (%) 1.070; Co (%) 0.1; Ni (kt) 190.0; Co (kt) 12.2.
Category Indicated: Tonnage (Mt) 58.04; Ni (%) 1.060; Co (%) 0.1; Ni (kt) 615.0; Co (kt) 42.4.
Category Inferred: Tonnage (Mt) 17.59; Ni (%) 0.940; Co (%) 0.1; Ni (kt) 166.0; Co (kt) 10.6.
Category Total: Tonnage (Mt) 93.40; Ni (%) 1.040; Co (%) 0.1; Ni (kt) 971.0; Co (kt) 65.2.
JORC 2012; 0.8% Ni cutoff. Source: 14 November 2023 announcement. More than 83% Measured and Indicated.
Ore reserves — November 2024 DFS
Category Probable: Tonnage (Mt) 84.7; Ni (%) 0.94; Co (%) 0.06; Ni (kt) 800; Co (kt) 51.
Category Total: Tonnage (Mt) 84.7; Ni (%) 0.94; Co (%) 0.06; Ni (kt) 800; Co (kt) 51.
JORC 2012; 0.5% Ni cutoff; 21 November 2024 announcement. Approximate contained metals.
Tenure and approvals: Mining Lease granted Environmental approvals under assessment
Reported capital: US$1.65B (pre-production) (DFS 2024) Current exchange rate ~US$1.07B
Primary product or commodity: Nickel Sulphate
Other commodities: Co
Seeking: Offtake partners | Equity investment | Strategic partners | Project finance | Debt finance
Ardea Resources Limited · ASX: ARL
Nickel · Goldfields-Esperance · Upstream
Prospectus status: Pre-Feasibility Study completed (2023) Definitive Feasibility Study underway (Q4 2026)
Goongarrie is 70 km north of Kalgoorlie-Boulder near highways, rail and gas infrastructure, with potential export through Esperance or Fremantle/Kwinana. The header lists Ardea 65% and Sumitomo/Mitsubishi 35%; the Japanese partners are earning 50% at investment decision.
Project details and development
The 2023 PFS proposes low-strip open pits feeding 3.5 Mtpa of goethite-rich ore into two HPAL autoclaves for more than 40 years, targeting 30 ktpa nickel and 2 ktpa cobalt. Waste steam from the acid plant would generate power. The PFS product is mixed hydroxide precipitate; the DFS begun in May 2024 evaluates higher-purity mixed sulphide precipitate.
Mining leases are granted. Environmental baseline studies extend into 2027 and Mining/Heritage Protection Agreement negotiations have started. The broader KNP and 20 km of Kalpini strike provide future hub and exploration options.
The profile identifies Major Project and Lead Agency status, Investor Front Door inclusion, Australia–Japan and Japan–US cooperation, and conditional funding support equivalent to A$1 billion from EFA and US EXIM. Conditional support is not completed project financing.
KNP Goongarrie Hub mineral resources
Category Measured: Tonnage (Mt) 18.2; Ni (%) 0.94; Co (%) 0.085; Ni (kt) 171; Co (kt) 15.
Category Indicated: Tonnage (Mt) 276.5; Ni (%) 0.70; Co (%) 0.046; Ni (kt) 1,923; Co (kt) 127.
Category Inferred: Tonnage (Mt) 289.3; Ni (%) 0.67; Co (%) 0.037; Ni (kt) 1,951; Co (kt) 108.
Category Total: Tonnage (Mt) 584.0; Ni (%) 0.69; Co (%) 0.043; Ni (kt) 4,044; Co (kt) 250.
0.5% Ni cutoff; source rounding retained.
Tenure and approvals: Mining Leases granted EPA referral (2026)
Reported capital: US$2.05B (PFS 2023)
Primary product or commodity: Nickel
Other commodities: Co, Sc, Mg, REE
Seeking: Offtake partners | Equity and debt funding | Export credit agencies assistance | Strategic partners
Austvolt
Nickel · Perth Metro · Midstream
Prospectus status: Feasibility underway (TBD)
Austvolt’s technology targets NCM precursors with nickel content up to 90%. The original Kwinana plan used BHP nickel sulphate and contemplated 40,000 tpa battery precursors; loss of domestic sulphate supply has triggered a review of feedstock and manufacturing locations.
Project details and development
The company is assessing partnerships near automotive manufacturing hubs, particularly India. Initial capacity would be 10,000 tpa with a possible increase to 40,000 tpa; these are development targets, not operating output.
WA provided A$3 million for the Scale B pilot and the Federal Government A$5.4 million for Scale C. The profile links the chemistry to potential EV ranges up to 600 km, a stated application claim rather than a guarantee for any vehicle. It seeks equity and strategic partners.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: N/A
Reported capital: US$250M
Primary product or commodity: Nickel-based NCM battery precursors and cathode active material
Other commodities: Co, Mn
Seeking: Equity raise | Strategic partnership
Encounter Resources Limited · ASX: ENR
Niobium · Pilbara · Upstream
Prospectus status: Inferred Mineral Resource Estimate completed (2025) Commenced project development studies
Aileron is a niobium–rare-earth discovery in the West Arunta. Its Inferred resource includes a higher-grade 26 Mt subset within the broader 120 Mt estimate; the subsets are not additive.
Project details and development
Development work includes metallurgy, studies and approvals. The company holds about 1,600 km² in the district and is testing multiple targets, with fresh-rock niobium, rare-earth and copper–gold potential beyond the current estimate. The first drillhole was completed in 2020; the discovery received the 2025 AMEC Prospector Award.
A May 2026 memorandum with Echion Technologies and Switch Technologies explores an integrated Australian lithium–niobium battery industry. This is a collaboration framework, not a completed processing or sales arrangement.
Inferred mineral resources — 2026
Nb₂O₅ cutoff (%) 0.25: Tonnage (Mt) 120; Nb₂O₅ (%) 0.77; Nb₂O₅ (kt) 919; TREO (%) 0.36; TREO (kt) 433.
Nb₂O₅ cutoff (%) 1.00: Tonnage (Mt) 26; Nb₂O₅ (%) 1.7; Nb₂O₅ (kt) 430; TREO (%) 0.56; TREO (kt) 146.
The higher-cutoff row is included in the broader resource.
Tenure and approvals: Exploration licences granted Mining Lease under application
Reported capital: TBD
Primary product or commodity: Niobium
Other commodities: REE, Cu, Au
Seeking: Potential offtakers | Strategic partners | Equity investors
WA1 Resources Ltd · ASX: WA1
Niobium · Pilbara · Upstream
Prospectus status: Pre-Feasibility Study underway (due Q4 CY2026)
WA1 owns Luni outright in the West Arunta. The 220 Mt estimate includes 93 Mt Indicated at 1.32% Nb₂O₅ and a separately cited high-grade subset of 56 Mt at 2.3% Nb₂O₅.
Project details and development
Testwork supports two-stage flotation followed by refining to ferroniobium; niobium oxide has also been produced. Product mix and offtake remain development choices, rather than fixed operating output.
Technical, permitting and development work is progressing toward a PFS targeted for Q4 2026. Federal Major Project Status was awarded in 2025. The project offers a possible new source of niobium in a market with concentrated production; it is not yet an operating mine.
Luni mineral resources — 13 May 2026
Category Indicated: Tonnage (Mt) 93; Nb₂O₅ (%) 1.32; Nb₂O₅ (kt) 1,230.
Category Inferred: Tonnage (Mt) 130; Nb₂O₅ (%) 0.70; Nb₂O₅ (kt) 940.
Category Total: Tonnage (Mt) 220; Nb₂O₅ (%) 1.00; Nb₂O₅ (kt) 2,200.
JORC 2012; 0.25% Nb₂O₅ cutoff, within an optimised pit shell based on approximately US$30/kg FeNb (contained Nb payable at US$45/kg). Source estimates are rounded; component tonnes do not sum exactly to the stated total.
Tenure and approvals: Mining Lease submitted
Reported capital: TBD
Primary product or commodity: Niobium
Other commodities: Nil
Seeking: Offtake partners | Strategic partners | Institutional equity
Chalice Mining Limited · ASX: CHN
Palladium · Wheatbelt · Upstream
Prospectus status: Pre-Feasibility Study completed (2025) Bankable Feasibility Study underway (due Q1 2027)
Chalice owns Gonneville and the associated freehold farmland, approximately 70 km northeast of Perth. The 2,240 ha development envelope is 56% cleared and close to power, rail, sealed roads, ports and labour. Discovery was in 2020.
Project details and development
The December 2025 PFS models a 23-year open pit. For four years, Stage 1 treats 1 Mtpa oxide plus 4 Mtpa sulphide. From year five, sulphide expands to 12 Mtpa; after oxide exhaustion in year nine, debottlenecking lifts it to 14 Mtpa. Processing combines crushing, grinding, flotation and leaching.
Average planned annual output is 220,000 oz 3E, 7,000 t nickel, 8,000 t copper and 700 t cobalt. Reported AISC is US$370/oz 3E. The base case gives A$820 million Stage 1 capital, A$1.4 billion pre-tax NPV8, 23% pre-tax IRR, about 2.7-year payback and A$4.7 billion pre-tax free cash flow.
First production is targeted for early 2030. State Strategic Project status dates to September 2024 and Federal Major Project Status to October 2024. A July 2024 Mitsubishi memorandum and government/export-credit financing engagement support development discussions; the bankable feasibility study is due Q1 2027.
Mineral resources — 23 April 2024
Category Measured: Tonnage (Mt) 2.9; 3E (g/t) 1.2; Ni (%) 0.21; Cu (%) 0.17; Co (%) 0.018; 3E (Moz) 0.12; Ni (kt) 6.1; Cu (kt) 4.8; Co (kt) 0.52.
Category Indicated: Tonnage (Mt) 400; 3E (g/t) 0.79; Ni (%) 0.15; Cu (%) 0.087; Co (%) 0.015; 3E (Moz) 10; Ni (kt) 610; Cu (kt) 370; Co (kt) 65.
Category Inferred: Tonnage (Mt) 250; 3E (g/t) 0.8; Ni (%) 0.15; Cu (%) 0.076; Co (%) 0.014; 3E (Moz) 6.4; Ni (kt) 370; Cu (kt) 200; Co (kt) 37.
Category Total: Tonnage (Mt) 660; 3E (g/t) 0.79; Ni (%) 0.15; Cu (%) 0.083; Co (%) 0.015; 3E (Moz) 17; Ni (kt) 960; Cu (kt) 540; Co (kt) 96.
JORC 2012; 3E = palladium + platinum + gold. Resources include reserves. Resource cutoffs: A$25/t NSR within the constraining pit, A$110/t NSR for underground MSO. The source states reserve cutoffs of A$100–110/t NSR pit-constrained and A$110/t NSR underground. Rounded totals are retained.
Ore reserves — 8 December 2025
Category Proved: Tonnage (Mt) 2.5; 3E (g/t) 1.4; Ni (%) 0.22; Cu (%) 0.18; Co (%) 0.018; 3E (Moz) 0.11; Ni (kt) 5.4; Cu (kt) 4.4; Co (kt) 0.45.
Category Probable: Tonnage (Mt) 260; 3E (g/t) 0.85; Ni (%) 0.16; Cu (%) 0.098; Co (%) 0.017; 3E (Moz) 7.1; Ni (kt) 400; Cu (kt) 250; Co (kt) 43.
Category Total: Tonnage (Mt) 260; 3E (g/t) 0.86; Ni (%) 0.16; Cu (%) 0.098; Co (%) 0.017; 3E (Moz) 7.1; Ni (kt) 400; Cu (kt) 260; Co (kt) 43.
JORC 2012; 3E = palladium + platinum + gold. Resources include reserves. Resource cutoffs: A$25/t NSR within the constraining pit, A$110/t NSR for underground MSO. The source states reserve cutoffs of A$100–110/t NSR pit-constrained and A$110/t NSR underground. Rounded totals are retained.
Tenure and approvals: Exploration Licences granted Mining Lease underway Environmental approvals under assessment
Reported capital: A$820M (pre-production)
Primary product or commodity: Palladium
Other commodities: Ni, Cu, Au, Co, Pt
Seeking: Export credit agencies | Offtake | Royalty/streaming companies | Strategic investors
Podium Minerals Limited · ASX: POD
Platinum Group Elements · Mid West · Upstream
Prospectus status: Pre-scoping study underway
Parks Reef extends for 15 km, about 80 km west of Meekatharra. The steeply dipping PGM zone remains open at depth. Its 183 Mt Inferred estimate contains 7.6 Moz 5E; the separate copper–gold zone adds scale and development options.
Project details and development
The concentrator flowsheet has recovered up to 80% of platinum, palladium and gold into 82–115 g/t 3E concentrate, with a 50–55-fold upgrade and low chromium. These are testwork outcomes, not operating recoveries.
Pre-scoping work is progressing on granted mining leases. The company draws on specialist PGM expertise and seeks strategic, equity and government funding. Potential uses include catalysts and hydrogen fuel cells, alongside other industrial PGM applications.
Inferred mineral resources by zone
Zone PGM / 183 Mt: Pt (Moz) 3.7; Pt (g/t) 0.62; Pd (Moz) 3.2; Pd (g/t) 0.55; Rh (Moz) 0.3; Rh (g/t) 0.05; Ir (Moz) 0.1; Ir (g/t) 0.02; Au (Moz) 0.4; Au (g/t) 0.06; 5E (Moz) 7.6; 5E (g/t) 1.30; Cu (kt) 103; Cu (%) 0.06; Ni (kt) 143; Ni (%) 0.08; Co (kt) 27; Co (%) 0.02.
Zone Copper–gold / 60 Mt: Pt (Moz) —; Pt (g/t) —; Pd (Moz) —; Pd (g/t) —; Rh (Moz) —; Rh (g/t) —; Ir (Moz) —; Ir (g/t) —; Au (Moz) 0.3; Au (g/t) 0.13; 5E (Moz) 0.3; 5E (g/t) 0.13; Cu (kt) 140; Cu (%) 0.23; Ni (kt) 60; Ni (%) 0.01; Co (kt) 11; Co (%) 0.02.
Zone Total: Pt (Moz) 3.7; Pt (g/t) 0.62; Pd (Moz) 3.2; Pd (g/t) 0.55; Rh (Moz) 0.3; Rh (g/t) 0.05; Ir (Moz) 0.1; Ir (g/t) 0.02; Au (Moz) 0.7; Au (g/t) 0.08; 5E (Moz) 7.9; 5E (g/t) 1.01; Cu (kt) 243; Cu (%) 0.10; Ni (kt) 203; Ni (%) 0.06; Co (kt) 38; Co (%) 0.02.
5E = Pt + Pd + Au + Rh + Ir. Source values, including the copper–gold-zone nickel grade, are retained as printed.
Tenure and approvals: Mining Leases granted
Reported capital: TBD
Primary product or commodity: Pt, Pd, Rh, Ir, Au
Other commodities: Cu, Ni, Co
Seeking: Strategic partners | Equity funding | Government funding
Critica Limited · ASX: CRI
Rare Earth Elements · Mid West · Upstream
Prospectus status: Scoping Study underway (Q3 2026)
Jupiter sits within Critica’s wholly owned Brothers project near Yalgoo. Broad, shallow clay and saprolite mineralisation covers roughly 40 km². Magnet rare-earth oxides—Nd, Pr, Dy and Tb—represent around 23% of total rare-earth oxides.
Project details and development
Pilot beneficiation has achieved up to about 14-fold grade uplift while rejecting 90–95% of mass before downstream treatment. Testwork has produced roughly 58% TREO mixed carbonate and 97.1% TREO mixed oxide. Product qualification and downstream engagement are continuing.
Regional roads, energy infrastructure and Geraldton port are accessible. Sedgman, Snowden Optiro and SRK are involved in scoping and resource-update work targeted for Q3 2026. MRIWA and the RTCM Trailblazer programme have provided a combined A$300,000 in non-dilutive metallurgical-research funding. Wider Brothers tenure remains prospective.
Inferred mineral resource and included higher-grade component
Category Inferred: TREO cutoff (ppm) 1,000; Tonnage (Bt) 1.78; TREO (ppm) 1,651; MREO (ppm) 383.
Category Included higher-grade component: TREO cutoff (ppm) 1,800; Tonnage (Bt) 0.52; TREO (ppm) 2,169; MREO (ppm) 499.
JORC 2012. Higher-grade tonnes are included in the total, not additional. MREO denotes magnet rare-earth oxides.
Tenure and approvals: Exploration licences granted
Reported capital: TBD
Primary product or commodity: Rare Earth Elements
Other commodities: Yt, Ga
Seeking: Strategic funding | Strategic partners | Offtake partners
Dreadnought Resources Ltd · ASX: DRE
Rare Earth Elements · Gascoyne · Upstream
Prospectus status: Resource estimates completed (2023) Scoping Study underway
The roughly 17 km Gifford Creek carbonatite complex has been drilled across less than a quarter of its extent. Identified mineralisation includes rare earths, niobium, scandium, titanium, zirconium and phosphate.
Project details and development
Yin metallurgical work has produced mixed rare-earth carbonate and monazite concentrate with favourable NdPr proportions. This supports processing studies but does not establish commercial recovery or a reserve.
Infrastructure options include roads, highways, Onslow and Geraldton ports, gas pipelines, airstrips and identified water. The company reports engagement with local communities, Traditional Owners and government. The profile’s “over 50 Mt” scale statement combines resources and exploration targets; the classified estimates below should be used separately.
Yin Ironstone Complex — November 2023
Material / category Oxide / Measured: Tonnage (Mt) 2.47; TREO (%) 1.61; TREO (kt) 39.7.
Material / category Oxide / Indicated: Tonnage (Mt) 13.46; TREO (%) 1.06; TREO (kt) 142.6.
Material / category Oxide / Inferred: Tonnage (Mt) 1.51; TREO (%) 0.75; TREO (kt) 11.2.
Material / category Oxide / Total: Tonnage (Mt) 17.44; TREO (%) 1.11; TREO (kt) 193.6.
Material / category Fresh / Measured: Tonnage (Mt) 2.70; TREO (%) 1.09; TREO (kt) 29.5.
Material / category Fresh / Indicated: Tonnage (Mt) 7.67; TREO (%) 0.95; TREO (kt) 72.8.
Material / category Fresh / Inferred: Tonnage (Mt) 2.17; TREO (%) 0.75; TREO (kt) 16.3.
Material / category Fresh / Total: Tonnage (Mt) 12.54; TREO (%) 0.95; TREO (kt) 118.7.
Material / category Combined / Measured: Tonnage (Mt) 5.17; TREO (%) 1.34; TREO (kt) 69.3.
Material / category Combined / Indicated: Tonnage (Mt) 21.13; TREO (%) 1.02; TREO (kt) 215.4.
Material / category Combined / Inferred: Tonnage (Mt) 3.68; TREO (%) 0.75; TREO (kt) 27.6.
Material / category Combined / Total: Tonnage (Mt) 29.98; TREO (%) 1.04; TREO (kt) 312.3.
0.20% TREO cutoff. Published Nd:Pr TREO ratio is 29% for oxide, fresh and total. Matrix reoriented for readability; values unchanged.
Gifford Creek carbonatite — August 2023 Inferred resource
TREO cutoff (%) 0.7: Tonnage (Mt) 10.84; TREO (%) 1; NdPr/TREO (%) 21; Nb₂O₅ (%) 0.22; P₂O₅ (%) 3.5; TiO₂ (%) 4.9; Sc (ppm) 85; TREO (t) 108,000; Nb₂O₅ (t) 23,700.
Tenure and approvals: Exploration licences granted Mining Lease submitted
Reported capital: TBD
Primary product or commodity: REE (Nd, Pr, Sm, La, Ce)
Other commodities: Nb, Ti, Sc, Zr, P
Seeking: Strategic partnership | Government support | Equity | Offtake partners
Northern Minerals Limited · ASX: NTU
Rare Earth Elements · Kimberley · Upstream
Prospectus status: Definitive Feasibility Study completed (2025) Final Investment Decision underway (due Q3 2026)
Northern Minerals owns Browns Range outright in the East Kimberley. Wolverine underpins an 11-year operation; the profile cites a 5.18 Mt reserve at 0.88% TREO and planned lifetime concentrate output around 181,000 t.
Project details and development
The DFS flowsheet upgrades ore more than 30-fold to about 25% TREO concentrate, with steady-state production near 17,500 tpa. A supply agreement links the project to Iluka’s Eneabba refinery. Dy, Tb and Y contribute around 78% of basket value, with uses in permanent magnets and advanced technologies.
At A$592 million capital, the pre-tax Base Case gives A$187 million NPV8 and 12% IRR. A separate Divergence Case gives A$705 million NPV8 and 21% IRR. These are different price scenarios, not interchangeable headline valuations; possible yttrium-price upside is outside the stated DFS case.
Primary approvals, tenure and Native Title arrangements are in place, with construction FEED progressing. Investment decision was targeted for September 2026 and first concentrate for Q4 2028/Q1 2029, subject to funding. EFA and US EXIM support is explicitly non-binding and conditional.
Wolverine mineral resources — 15 January 2025
Category Measured: Tonnage (Mt) 0.1; TREO (%) 0.91; Dy₂O₃ (source value) 0.84; Y₂O₃ (source value) 5.40; Tb₄O₇ (source value) 0.12; HREO/TREO (%) 92; TREO (t) 1,000.
Category Indicated: Tonnage (Mt) 4.9; TREO (%) 1.13; Dy₂O₃ (source value) 1.00; Y₂O₃ (source value) 6.72; Tb₄O₇ (source value) 0.14; HREO/TREO (%) 91; TREO (t) 54,400.
Category Inferred: Tonnage (Mt) 2.4; TREO (%) 0.63; Dy₂O₃ (source value) 0.54; Y₂O₃ (source value) 3.60; Tb₄O₇ (source value) 0.08; HREO/TREO (%) 87; TREO (t) 15,100.
Category Total: Tonnage (Mt) 7.3; TREO (%) 0.96; Dy₂O₃ (source value) 0.85; Y₂O₃ (source value) 5.68; Tb₄O₇ (source value) 0.12; HREO/TREO (%) 89; TREO (t) 70,500.
0.15% TREO cutoff. The source does not clearly label units for the individual Dy/Y/Tb oxide columns; their values are retained without inventing units. Source-rounded totals are retained.
Ore reserve reported in the profile narrative
Estimate Ore reserve / category not specified in profile: Tonnage (Mt) 5.18; TREO (%) 0.88.
The prospectus provides this reserve figure in prose, without a reserve-category breakdown.
Tenure and approvals: Mining Lease granted Primary approvals granted Native Title arrangements signed
Reported capital: ~US$420M (pre-production)
Primary product or commodity: Heavy Rare Earths (Dy, Tb, Y)
Other commodities: Yttrium
Seeking: Debt funding | Equity funding for construction
RareX Limited · ASX: REE
Rare Earth Elements · Kimberley · Upstream
Prospectus status: Scoping Study completed (2022) Pre-Feasibility Study underway
RareX owns Cummins Range outright. Mining lease M80/648 followed a Mining Heritage Protection Agreement with the Jaru Traditional Owners’ prescribed body corporate. Rare earths are the principal target, alongside gallium, scandium and apatite-hosted phosphate.
Project details and development
Current work concentrates on metallurgy, flowsheet design, value recovery across mineral streams and strategic partnering. The development concept has three stages over an overall 18-year mine life.
Stage 1 would spend A$45 million to produce 300,000 tpa phosphate DSO for three years. Stage 2 proposes an A$304 million flotation plant producing 550,000 tpa phosphate–rare-earth concentrate. Stage 3 adds an A$63 million upgrade after the first decade; A$41 million is allocated for closure. These staged Australian-dollar figures are distinct from the header’s US$300 million 2022 estimate.
Mineral resources — 2024
Category Indicated: Tonnage (Mt) 77.4; TREO (ppm) 4,650; P₂O₅ (%) 6.7; NdPr (ppm) 1,020; Nb₂O₅ (ppm) 780; HREO (ppm) 280.
Category Inferred: Tonnage (Mt) 446.9; TREO (ppm) 2,860; P₂O₅ (%) 4.2; NdPr (ppm) 620; Nb₂O₅ (ppm) 550; HREO (ppm) 170.
Category Total: Tonnage (Mt) 524.3; TREO (ppm) 3,120; P₂O₅ (%) 4.6; NdPr (ppm) 670; Nb₂O₅ (ppm) 580; HREO (ppm) 190.
2.5% P₂O₅ cutoff.
Tenure and approvals: Mining Leases granted Native Title signed
Reported capital: US$300M (2022)
Primary product or commodity: REE
Other commodities: Ga, P, Sc
Seeking: Strategic partnership
Victory Metals Limited · ASX: VTM
Rare Earth Elements · Mid West · Upstream
Prospectus status: Pre-Feasibility Study completed (2026) Definitive Feasibility Study underway
Victory owns North Stanmore outright, 6 km north of Cue. The clay-hosted heavy-rare-earth development case covers roughly 20 years and uses a 48.4 Mt Probable reserve.
Project details and development
The 2.4 Mtpa base case produces approximately 29,000 wet tonnes a year of flotation concentrate at 7.1% TREO, around 40% of which is HREO. Indicative capital is A$155 million, post-tax NPV8 A$1.211 billion and payback about 1.5 years.
Indicative TIMA analysis places 86% of Dy, 82% of Tb and 96% of Y in combined churchite, rhabdophane and associated secondary-phosphate groups. This supports the flotation approach and differs from primary monazite/xenotime systems. Pilot flotation is reported; the profile states EXIM funding is confirmed but does not specify an amount or terms.
Mineral resources — August 2026
Category Measured: Tonnage (Mt) 70.7; TREO (ppm) 535.07; HREO (ppm) 192.27; LREO (ppm) 342.80.
Category Indicated: Tonnage (Mt) 84.1; TREO (ppm) 509.60; HREO (ppm) 180.24; LREO (ppm) 329.36.
Category Inferred: Tonnage (Mt) 124.0; TREO (ppm) 434.50; HREO (ppm) 153.52; LREO (ppm) 280.98.
Category Total: Tonnage (Mt) 278.8; TREO (ppm) 482.64; HREO (ppm) 171.40; LREO (ppm) 311.24.
Economic cutoff ≥300 ppm TREO. Source rounding retained.
Ore reserves — August 2026
Category Probable: Tonnage (Mt) 48.4; TREO (ppm) 672; HREO (ppm) 240; LREO (ppm) 432.
Category Total: Tonnage (Mt) 48.4; TREO (ppm) 672; HREO (ppm) 240; LREO (ppm) 432.
Tenure and approvals: Not disclosed
Reported capital: ~US$100M
Primary product or commodity: Yttrium (HREC)
Other commodities: Dy, Tb, Hf, Sc
Seeking: Offtake partners | Strategic downstream partners | Downstream government strategies
Everest Metals Corporation Ltd · ASX: EMC
Rubidium · Mid West · Upstream
Prospectus status: Engineering Scoping Study underway
Everest holds 51% and Entelechy 49%; Everest can earn up to 100% and owns all downstream rubidium-process technology. The shallow deposit is suited to low-strip open-cut mining and remains open along strike and at depth.
Project details and development
The company’s Direct Rubidium Extraction process has recovered up to 97% Rb in testwork. Work now covers process optimisation, pilots, engineering and intellectual-property protection, targeting 100–250 tpa rubidium chloride.
A higher-grade subset of 1.56 Mt at 0.31% Rb₂O and 0.10% Li₂O contains almost 49% of reported rubidium oxide. This subset is included within the total estimate.
Mining approval was targeted by end-2026, with mining-lease and development/closure submissions made. Australian research collaboration and engagement with the US DIBC and EU Raw Materials Mechanism support technical and commercial work.
Mineral resources — May 2026
Category Indicated: Tonnage (Mt) 2.7; Rb₂O (%) 0.23; Rb₂O (t) 6,300; Li₂O (%) 0.11; Li₂O (t) 2,900; Mica (%) 13.3; Feldspar (%) 53.3; Quartz (%) 32.8.
Category Inferred: Tonnage (Mt) 1.5; Rb₂O (%) 0.22; Rb₂O (t) 3,500; Li₂O (%) 0.09; Li₂O (t) 1,500; Mica (%) 14.8; Feldspar (%) 51.9; Quartz (%) 31.7.
Category Total: Tonnage (Mt) 4.3; Rb₂O (%) 0.23; Rb₂O (t) 9,800; Li₂O (%) 0.10; Li₂O (t) 4,400; Mica (%) 13.9; Feldspar (%) 52.8; Quartz (%) 32.1.
0.10% Rb₂O cutoff; rounded source totals retained.
Tenure and approvals: Mining Lease submitted Mining Development and Closure Proposal (MDCP) submitted
Reported capital: Not disclosed
Primary product or commodity: Rubidium
Other commodities: Li
Seeking: Offtake | Equity and debt funding | Export credit agency support | Strategic partnerships
VRX Silica Limited · ASX: VRX
Silica · Mid West · Upstream
Prospectus status: Bankable Feasibility Study complete (2026) Final Investment Decision underway
Arrowsmith North is about 270 km north of Perth beside the Brand Highway, providing a route to Geraldton port. VRX targets Southeast Asian foundry and coloured-glass markets.
Project details and development
The bankable feasibility study covers an initial 25-year mine life; the company identifies potential for a much longer operation, exceeding 100 years, which is not the same as an approved development schedule.
Production is scheduled for 2027 subject to final environmental approvals and financing. Mining tenure is granted while Native Title and environmental processes continue. The profile cites a 221 Mt ore reserve at 99.5% SiO₂, without a reserve-category table.
Mineral resources — 2023
Category Measured: Tonnage (Mt) 10; SiO₂ (%) 95.9; Fe₂O₃ (%) 0.7; Al₂O₃ (%) 1.9; LOI (%) 0.7.
Category Indicated: Tonnage (Mt) 237; SiO₂ (%) 97.7; Fe₂O₃ (%) 0.4; Al₂O₃ (%) 1.0; LOI (%) 0.5.
Category Inferred: Tonnage (Mt) 266; SiO₂ (%) 98.4; Fe₂O₃ (%) 0.3; Al₂O₃ (%) 0.7; LOI (%) 0.4.
Category Total: Tonnage (Mt) 513; SiO₂ (%) 98.0; Fe₂O₃ (%) 0.3; Al₂O₃ (%) 0.9; LOI (%) 0.4.
Ore reserve reported in the profile narrative
Estimate Ore reserve / category not specified in profile: Tonnage (Mt) 221; SiO₂ (%) 99.5.
Tenure and approvals: Mining Lease granted Native Title ongoing Environmental approvals ongoing
Reported capital: US$60M
Primary product or commodity: High Quality Silica Sand
Other commodities: Nil
Seeking: Debt | Equity finance
VRX Silica Limited · ASX: VRX
Silica · Wheatbelt · Upstream
Prospectus status: Bankable Feasibility Study completed (2019) Final Investment Decision underway (Q4 2027)
Muchea is 50 km north of Perth, near energy supplies, the Brand Highway and rail access to Kwinana port. Its low-iron, high-purity silica is intended for ultra-clear solar-panel flat glass.
Project details and development
The 2019 bankable feasibility case supports more than 25 years of mining. The source distinguishes the 99.6% SiO₂ mineral-resource grade from the greater-than-99.9% ore-reserve figure; these should not be treated as identical measurements.
The mining lease is approved, with permits still progressing and investment decision targeted for Q4 2027. The profile seeks offtake and strategic partners and reports US$50 million capital.
Mineral resources — 2020
Category Indicated: Tonnage (Mt) 29; SiO₂ (%) 99.6; Fe₂O₃ (%) 0.03; Al₂O₃ (%) 0.09; LOI (%) 0.22.
Category Inferred: Tonnage (Mt) 179; SiO₂ (%) 99.6; Fe₂O₃ (%) 0.02; Al₂O₃ (%) 0.05; LOI (%) 0.23.
Category Total: Tonnage (Mt) 208; SiO₂ (%) 99.6; Fe₂O₃ (%) 0.02; Al₂O₃ (%) 0.06; LOI (%) 0.23.
Ore reserve reported in the profile narrative
Estimate Ore reserve / category not specified in profile: Tonnage (Mt) 18.7; SiO₂ (%) >99.9.
Tenure and approvals: Mining Lease approved Permitting and approvals underway
Reported capital: US$50M
Primary product or commodity: High Purity Silica Sand
Other commodities: Nil
Seeking: Offtake partners | Strategic partnerships
Vytas Limited
Silicon · Perth Metro · Midstream
Prospectus status: Process development Experimental scale-up Customer qualification underway Final Investment Decision targeted (2027)
Vytas is developing purified quartz in Perth for fused-quartz crucibles used in silicon ingot production. These crucibles support solar photovoltaic and semiconductor manufacturing; specialty glass, fibre optics and other advanced materials are additional possible markets.
Project details and development
The approach combines Vytas quartz resources with proprietary purification. Process development, experimental scale-up and pre-qualification testing with several crucible manufacturers are running in parallel with demonstration-plant design.
The commercial target is about 25,000 tpa UHPQ. Work through 2026 is intended to support customer qualification, offtake discussions and feasibility studies. Investment decision is targeted for 2027, subject to technical and commercial results. No classified quartz-resource table is published in the profile.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: N/A
Reported capital: N/A
Primary product or commodity: Ultra-high Purity Quartz
Other commodities: Nil
Seeking: Offtake partners | Investment
Vytas Limited
Silicon · Perth Metro · Midstream
Prospectus status: Pilot-scale production underway (2026) Application testing underway (2026)
Vytas uses naturally occurring nanoporous silica and proprietary processing to develop silicon-anode material with a three-dimensional porous structure. Target applications include lithium-ion batteries for vehicles, electronics, drones and other performance-sensitive uses.
Project details and development
Work covers process optimisation, independent evaluation, battery-manufacturer qualification, experimental scale-up and engineering. Pilot production and application testing are expected during 2026–27.
Commercial partnerships, offtake, feasibility and investment decisions follow successful technical validation. Project execution is targeted within two years, conditional on qualification, feasibility and funding. No commercial capacity, capital estimate or classified resource table is disclosed.
No mineral-resource or ore-reserve table is published for this processing project in the prospectus. Available plant-capacity and feedstock information is included in the project details.
Tenure and approvals: N/A
Reported capital: N/A
Primary product or commodity: Nanoporous Silicon
Other commodities: Nil
Seeking: Offtake partners | Investment
Audalia Resources Limited · ASX: ACP
Titanium · Goldfields-Esperance · Upstream
Prospectus status: Pre-Feasibility Study completed (updated 2026) Final Investment Decision underway (due Q3 2026)
Medcalf would ship crushed and screened titanium–iron–vanadium ore without chemical processing. Hard-rock open pits, about 50 m deep and above the water table, use drilling and blasting at a reported 0.6:1 stripping ratio.
Project details and development
The January 2026 PFS update targets approximately 1 Mtpa saleable product over ten years. A private 74 km road would join the Coolgardie–Esperance Highway 54 km south of Norseman, connecting the project to Esperance port.
The road design drives the wide A$31.1–120.9 million capital range. Environmental approvals require an offset area and research into affected flora. Disturbed areas would be rehabilitated after mining.
Mineral resources
Category Indicated: Tonnage (Mt) 20.3; TiO₂ (%) 10.17; V₂O₅ (%) 0.54; Fe₂O₃ (%) 51.5.
Category Inferred: Tonnage (Mt) 3.8; TiO₂ (%) 7.85; V₂O₅ (%) 0.38; Fe₂O₃ (%) 43.1.
Category Total: Tonnage (Mt) 24.2; TiO₂ (%) 9.80; V₂O₅ (%) 0.52; Fe₂O₃ (%) 50.2.
Source rounding retained.
Ore reserves
Category Proven: Tonnage (Mt) 0; TiO₂ (%) 0.00; V₂O₅ (%) 0.00; Fe₂O₃ (%) 0.0.
Category Probable: Tonnage (Mt) 11.77; TiO₂ (%) 11.01; V₂O₅ (%) 0.61; Fe₂O₃ (%) 53.8.
Category Total: Tonnage (Mt) 11.77; TiO₂ (%) 11.01; V₂O₅ (%) 0.61; Fe₂O₃ (%) 53.8.
Tenure and approvals: Mining Lease granted Environmental approvals ongoing
Reported capital: A$31.1 – $120.9 M
Primary product or commodity: Titanium
Other commodities: V, Fe
Seeking: Offtake partners | Funding partners
Empire Metals Ltd · AIM: EEE; OTCQX: EPMLF
Titanium · Mid West · Upstream
Prospectus status: Advanced exploration underway Early-stage development underway
Empire holds 70% and Century 30% of Pitfield, a sediment-hosted titanium system in the Mid West about 320 km from Perth. The August 2026 estimate covers Cosgrove and Thomas and represents around 20% of the known mineralised footprint.
Project details and development
Testwork has produced TiO₂ purity above 99%, with possible pigment, titanium-metal feedstock and alumina coproduct markets. Anatase/rutile mineralogy may reduce acid demand, temperature and waste relative to conventional ilmenite routes; these remain development-stage advantages, not established operating costs.
Continuous pilots, engineering, economic work and product development are progressing. Road/rail links to Geraldton, power and gas networks and regional labour provide infrastructure options. The company reports moving from first drilling to a resource, flowsheet and product within 30 months.
Cosgrove and Thomas mineral resources — August 2026
Material / category Laterite / Measured: Dry tonnage (Mt) 17; TiO₂ (%) 4.3; TiO₂ (kt) 700.
Material / category Laterite / Indicated: Dry tonnage (Mt) 169; TiO₂ (%) 3.6; TiO₂ (kt) 6,082.
Material / category Laterite / Inferred: Dry tonnage (Mt) 64; TiO₂ (%) 3.7; TiO₂ (kt) 2,367.
Material / category Laterite / Total: Dry tonnage (Mt) 249; TiO₂ (%) 3.7; TiO₂ (kt) 9,167.
Material / category Saprolite / Measured: Dry tonnage (Mt) 73; TiO₂ (%) 5.8; TiO₂ (kt) 4,200.
Material / category Saprolite / Indicated: Dry tonnage (Mt) 677; TiO₂ (%) 4.4; TiO₂ (kt) 30,050.
Material / category Saprolite / Inferred: Dry tonnage (Mt) 152; TiO₂ (%) 4.4; TiO₂ (kt) 6,639.
Material / category Saprolite / Total: Dry tonnage (Mt) 903; TiO₂ (%) 4.5; TiO₂ (kt) 40,928.
Material / category Weathered / Measured: Dry tonnage (Mt) 225; TiO₂ (%) 6.0; TiO₂ (kt) 13,600.
Material / category Weathered / Indicated: Dry tonnage (Mt) 2,214; TiO₂ (%) 4.4; TiO₂ (kt) 97,904.
Material / category Weathered / Inferred: Dry tonnage (Mt) 795; TiO₂ (%) 4.1; TiO₂ (kt) 32,945.
Material / category Weathered / Total: Dry tonnage (Mt) 3,235; TiO₂ (%) 4.5; TiO₂ (kt) 144,419.
Material / category Fresh / Measured: Dry tonnage (Mt) 58; TiO₂ (%) 5.3; TiO₂ (kt) 3,100.
Material / category Fresh / Indicated: Dry tonnage (Mt) 525; TiO₂ (%) 3.9; TiO₂ (kt) 20,619.
Material / category Fresh / Inferred: Dry tonnage (Mt) 3,189; TiO₂ (%) 4.1; TiO₂ (kt) 130,999.
Material / category Fresh / Total: Dry tonnage (Mt) 3,772; TiO₂ (%) 4.1; TiO₂ (kt) 154,729.
Material / category Total / Measured: Dry tonnage (Mt) 374; TiO₂ (%) 5.8; TiO₂ (kt) 21,600.
Material / category Total / Indicated: Dry tonnage (Mt) 3,585; TiO₂ (%) 4.3; TiO₂ (kt) 154,654.
Material / category Total / Inferred: Dry tonnage (Mt) 4,200; TiO₂ (%) 4.1; TiO₂ (kt) 172,950.
Material / category Total / Total: Dry tonnage (Mt) 8,159; TiO₂ (%) 4.3; TiO₂ (kt) 349,244.
2.5% TiO₂ cutoff for all material types. Source matrix reoriented; rounded values unchanged.
Tenure and approvals: Exploration Licences granted
Reported capital: TBD
Primary product or commodity: Titanium
Other commodities: Nil
Seeking: Offtake partners | Strategic partnerships
Greatland Resources Limited · ASX: GGP
Tungsten · Pilbara · Upstream
Prospectus status: Pre-Feasibility Study completed (2014)
O’Callaghans lies on lease M45/203, 10 km south of Telfer and about 485 km by road southeast of Port Hedland. Telfer may provide non-processing infrastructure, power and logistics synergies.
Project details and development
Greatland’s March 2026 release reports the estimate effective 31 December 2025. Around 95% is Indicated, supported by about 71,000 m of drilling in 184 holes at roughly 100 × 100 m spacing. Tungsten is accompanied by copper, zinc and lead.
A historic 2014 PFS examined a 2 Mtpa underground operation using long-hole open stoping and decline truck haulage. Sequential copper/lead/zinc/pyrite flotation followed by magnetic and gravity separation would produce tungsten concentrate at a new processing facility.
Historic resource and reserve reporting under Newcrest/Newmont should not be substituted for a current reserve: the prospectus publishes the current resource table and cites the earlier PFS as development context. Greatland is considering partnerships, offtake, downstream collaboration, joint ventures and possible divestment structures.
Mineral resources — 31 December 2025
Category Indicated: Tonnage (Mt) 65; WO₃ (%) 0.35; WO₃ (kt) 232; Cu (%) 0.30; Cu (kt) 195; Zn (%) 0.58; Zn (kt) 358; Pb (%) 0.28; Pb (kt) 176.
Category Inferred: Tonnage (Mt) 4; WO₃ (%) 0.31; WO₃ (kt) 14; Cu (%) 0.28; Cu (kt) 12; Zn (%) 0.39; Zn (kt) 13; Pb (%) 0.19; Pb (kt) 7.
Category Total: Tonnage (Mt) 70; WO₃ (%) 0.35; WO₃ (kt) 246; Cu (%) 0.30; Cu (kt) 207; Zn (%) 0.57; Zn (kt) 371; Pb (%) 0.28; Pb (kt) 182.
Source NSR basis uses US$25.74/lb W (about US$450/MTU APT), US$4.54/lb Cu, US$1.27/lb Zn and US$0.93/lb Pb. Rounded source values retained.
Tenure and approvals: Mining Leases granted
Reported capital: TBD
Primary product or commodity: Tungsten
Other commodities: Cu, Zn, Pb
Seeking: Strategic partnerships | Offtake partners | Downstream processing collaboration | Development pathway options | Joint ventures | Divestment structures
Tungsten Mining NL · ASX: TGN
Tungsten · Mid West · Upstream
Prospectus status: Pre-Feasibility Study underway Definitive Feasibility Study underway
Mt Mulgine is 330 km northeast of Perth and 15 km northeast of Rothsay, among established mines and infrastructure. Tungsten and molybdenum are accompanied by potential copper, gold and silver credits.
Project details and development
More than 110 km of drilling has been completed. The profile describes a 23-year life at 6 Mtpa, with potential scaling to 15 Mtpa. Both pre-feasibility and definitive-feasibility work are underway on granted mining and miscellaneous licences.
The reported capital estimate is approximately US$350 million. The project seeks offtake, debt/equity funding and strategic partners; scale-up remains subject to study and financing outcomes.
Mineral resources — May 2020
Category Indicated: Tonnage (Mt) 175; WO₃ (%) 0.11; WO₃ (kt) 190; Mo (ppm) 290; Mo (source label: t) 51; Au (g/t) 0.14; Au (koz) 770; Ag (g/t) 6; Ag (Moz) 32; Cu (%) 0.04; Cu (kt) 69.
Category Inferred: Tonnage (Mt) 72; WO₃ (%) 0.11; WO₃ (kt) 80; Mo (ppm) 250; Mo (source label: t) 18; Au (g/t) 0.10; Au (koz) 230; Ag (g/t) 5; Ag (Moz) 12; Cu (%) 0.03; Cu (kt) 24.
Category Total: Tonnage (Mt) 247; WO₃ (%) 0.11; WO₃ (kt) 270; Mo (ppm) 280; Mo (source label: t) 69; Au (g/t) 0.13; Au (koz) 1,000; Ag (g/t) 6; Ag (Moz) 44; Cu (%) 0.04; Cu (kt) 92.
JORC estimate; 0.05% WO₃ minimum cutoff. The source labels contained Mo as tonnes but prints 51, 18 and 69, which do not reconcile with tonnage and ppm grade. Values and label are retained, without assuming a correction to kt.
Tenure and approvals: Mining Lease granted Miscellaneous licences granted
Reported capital: ~US$350M
Primary product or commodity: Tungsten
Other commodities: Mo, Au, Ag, Cu
Seeking: Offtake partners | Debt and equity funding | Strategic partnerships
Atlantic Vanadium Pty Ltd
Vanadium · Mid West · Upstream
Prospectus status: Definitive Feasibility Study completed Final Investment Decision underway (due 2027)
Atlantic owns Windimurra outright, around 600 km northeast of Perth and 80 km by road from Mount Magnet. Historical investment exceeds A$700 million across the pit, kiln, refinery, power, gas, water, tailings and accommodation; that is sunk infrastructure investment, not new-project capital.
Project details and development
Redevelopment adds crushing, milling and beneficiation, refurbishes retained facilities and removes refinery bottlenecks. Planned steady-state output is about 7,600 tpa high-purity V₂O₅ flake over an initial 31 years.
First output is targeted for August 2028, dependent on investment decision and funding. Potential markets include steel, chemicals and vanadium-flow batteries, with local electrolyte manufacture a future option.
The company anticipates more than 400 construction jobs and around 200 operating roles, including local and Indigenous employment and contracting. It seeks long-term offtake, strategic/downstream partners and debt/equity support.
Mineral resources — 2019
Category Measured: Tonnage (Mt) 34.6; V₂O₅ (%) 0.49; V₂O₅ (kt) 169.
Category Indicated: Tonnage (Mt) 123.5; V₂O₅ (%) 0.50; V₂O₅ (kt) 618.
Category Inferred: Tonnage (Mt) 51.6; V₂O₅ (%) 0.50; V₂O₅ (kt) 256.
Category Total: Tonnage (Mt) 209.7; V₂O₅ (%) 0.50; V₂O₅ (kt) 1,048.
JORC 2012; published totals retained.
Ore reserves — 2019
Category Proved: Tonnage (Mt) —; V₂O₅ (%) —; V₂O₅ (kt) —.
Category Probable: Tonnage (Mt) 87.5; V₂O₅ (%) 0.49; V₂O₅ (kt) 429.
Category Total: Tonnage (Mt) 87.5; V₂O₅ (%) 0.49; V₂O₅ (kt) 429.
Tenure and approvals: Mining Leases granted Native Title signed Mining proposal approved
Reported capital: Not disclosed
Primary product or commodity: Vanadium
Other commodities: Nil
Seeking: Long-term offtake partners | Strategic and downstream partners | Project debt and/or equity funding
Australian Vanadium Limited · ASX: AVL
Vanadium · Mid West · Upstream
Prospectus status: Bankable Feasibility Study completed (2022) Optimised Feasibility Study underway
The February 2024 merger combined adjoining Mid West projects. The May 2024 resource includes a high-grade domain of 173.2 Mt at 1.09% V₂O₅ within the 395.4 Mt total.
Project details and development
The April 2022 BFS proposes open-pit mining and beneficiation at Gabanintha, 43 km south of Meekatharra, with concentrate transported to a refinery near Geraldton. It models 25 years, average annual production of 11,200 t 99.5% V₂O₅ flake and 915,500 t iron concentrate.
The 2022 case reports A$833 million pre-tax NPV at 7.5%, 20.6% equity IRR and US$560 million initial capital (also stated as A$778 million). An optimised feasibility study is underway; the newer combined resource and older reserve/BFS have different bases.
AVL’s wider chain includes an operating Perth electrolyte facility, proposed V-NOMAD modular electrolyte technology and VSUN Energy flow-battery activities. Its electrolyte has been used in an operating Horizon Power battery. Support includes an A$49 million MMI-C grant, Federal Major Project Status and WA Lead Agency assistance.
Mineral resources — May 2024
Category Measured: Tonnage (Mt) 30.6; V₂O₅ (%) 1.13.
Category Indicated: Tonnage (Mt) 136.6; V₂O₅ (%) 0.85.
Category Inferred: Tonnage (Mt) 228.2; V₂O₅ (%) 0.66.
Category Total: Tonnage (Mt) 395.4; V₂O₅ (%) 0.77.
JORC 2012; nominal wireframed cutoffs of 0.4% V₂O₅ for low grade and 0.7% for high grade.
Ore reserves — April 2022
Category Proved: Tonnage (Mt) 10.5; V₂O₅ (%) 1.11.
Category Probable: Tonnage (Mt) 20.4; V₂O₅ (%) 1.07.
Category Total: Tonnage (Mt) 30.9; V₂O₅ (%) 1.09.
0.7% V₂O₅ cutoff. Different effective date and study basis from the combined resource.
Tenure and approvals: Mining Leases granted (one under application) Environmental and other project approvals underway
Reported capital: US$560M (2022)
Primary product or commodity: Vanadium pentoxide
Other commodities: Fe
Seeking: Offtake partners | Debt and equity financing | Export credit agency | Strategic partners and customers
Surefire Resources NL · ASX: SRN
Vanadium · Mid West · Upstream
Prospectus status: Pre-Feasibility Study completed (2024) Definitive Feasibility Study underway
Victory Bore is about 450 km north of Perth within the Atley Intrusion, a layered gabbro extending over 23 km along the Youanmi Fault. The profile identifies about 20 km of surface vanadium–titanium–iron mineralisation close to power and infrastructure.
Project details and development
The January 2024 PFS supports a 93 Mt Probable reserve and planned production near 1.25 Mtpa magnetite concentrate. Potential products include high-purity vanadium, ferrovanadium, titanium slag, pig iron, iron-oxide pigment and high-grade iron ore. Reported vanadium recovery reaches 93.7%.
A separate aluminium estimate of 17 Mt at 23.1% Al₂O₃ and test production of 99.99% HPA provide additional options. The profile also mentions a one-billion-tonne exploration target; it is conceptual, not an additional classified resource.
A DFS, mining-lease application, Native Title process and environmental approvals are underway. The company considers outright sale, financing and offtake.
Mineral resources — 2024
Category Measured: V₂O₅ cutoff (%) 0.15; Tonnage (Mt) 25.3; Vanadium oxide grade (%) 0.35; TiO₂ (%) 4.96; Fe (%) 19.20; Al₂O₃ (%) 17.0; SiO₂ (%) 34.9.
Category Indicated: V₂O₅ cutoff (%) 0.15; Tonnage (Mt) 113.2; Vanadium oxide grade (%) 0.32; TiO₂ (%) 4.70; Fe (%) 18.19; Al₂O₃ (%) 17.4; SiO₂ (%) 35.9.
Category Inferred: V₂O₅ cutoff (%) 0.15; Tonnage (Mt) 326.1; Vanadium oxide grade (%) 0.28; TiO₂ (%) 5.28; Fe (%) 17.41; Al₂O₃ (%) 16.0; SiO₂ (%) 36.4.
Category Total: V₂O₅ cutoff (%) 0.15; Tonnage (Mt) 464.6; Vanadium oxide grade (%) 0.30; TiO₂ (%) 5.12; Fe (%) 17.70; Al₂O₃ (%) 16.4; SiO₂ (%) 36.2.
The source grade-column heading is printed V₂O₂, while its cutoff and narrative use V₂O₅. The discrepancy is stated rather than silently rewriting the source.
Probable ore reserve reported in the narrative
Category Probable: Tonnage (Mt) 93; V₂O₅ (%) 0.35; TiO₂ (%) 5.2; Fe (%) 19.8.
January 2024 PFS; JORC 2012.
Tenure and approvals: Mining Lease under application Native Title process underway Environmental approvals underway
Reported capital: US$498M (PFS Jan 2024)
Primary product or commodity: Vanadium
Other commodities: Ferrovanadium, Titanium Slag, Pig Iron, High Purity Iron Oxide pigment and High Grade Iron Ore
Seeking: Outright sale | Financing | Offtake
Project descriptions are adapted by Canetoad from the company profiles in the Western Australia Critical Minerals Prospectus 2026, published by the Department of Mines, Petroleum and Exploration. Resource and reserve figures retain the reported categories, units, dates and cutoff information. Wide source tables are reorganised for reading without adding their overlapping categories or cutoff scenarios. This guide is educational information, not investment advice.
Satellite imagery: Esri, Maxar and Earthstar Geographics. Project locations retain the original Canetoad/MINEDEX matches; uncertain matches and estimates are identified in the interactive.