Thursday, August 28

Everest Metals Corporation has been awarded $150,000 in funding from the Minerals Research Institute of Western Australia (MRIWA) under its Mining, Equipment, Technology and Services (METS) Innovation Program.

This funding will support the development of rubidium extraction and purification from pegmatite ore at the Mt Edon Critical Minerals Project, located 5km southwest of Paynes Find in Western Australia’s Mid-West region, about 420km northeast of Perth.

The initiative, set to commence in September, marks a pivotal step by the company toward establishing Australia’s first rubidium industry, reducing reliance on Chinese-dominated supply chains for this critical mineral.

The MRIWA-funded project, titled “Establishing an Australian Rubidium Industry: Extraction and Purification from Pegmatite Ore,” aims to bridge the gap between laboratory-scale experimentation and commercial pilot plant operations.

Everest, in collaboration with Edith Cowan University’s (ECU) Mineral Recovery Research Centre (MRRC), will work to produce 1 kilogram of rubidium chloride per week at a purity of at least 95 per cent, a benchmark that marks the potential for commercial scalability.

The project, expected to span 12 months, will refine and optimise the Direct Rubidium Extraction (DRE) process, which has already achieved 97 per cent recovery rates in lab tests, alongside 92g/t lithium as a by-product.

This efficiency, demonstrated in June 2025 at ECU, underscores the process’s technical and economic viability supported by a provisional patent filed in February 2025 for Everest’s proprietary extraction method.

We are grateful to the Western Australian Government for supporting and endorsing the development of what will be an Australian first for the Rubidium Industry and are excited to continue these programs in collaboration with Edith Cowan University, our research partner.

Caruso added the company’s focus will be on continuing to develop both the technological and commercial potential, specifically relating to efficient extraction and refining techniques resulting in a potentially saleable rubidium product.

Mt Edon hosts an inferred mineral resource of 3.6 million tonnes grading 0.22 per cent rubidium oxide and 0.07 per cent lithium oxide, containing over 7900 tonnes of rubidium oxide, with a high-grade subset of 1.3 million tonnes at 0.33 per cent of the oxide.

The deposit, part of a 1.2km-long classic fertile lithium-caesium-tantalum (LCT) pegmatite corridor, remains open along strike and at depth, offering the potential for significant resource expansion. Its near-surface mineralisation supports low-cost open-cut mining with a low stripping ratio.

Recent work with Australia’s CSIRO, initiated in April 2025, has furthered geochemical and mineralogical studies to enhance recovery processes focusing on rubidium and lithium distribution in pegmatite phases.

Rubidium, a critical mineral listed by the USA and Japan, is vital for high-tech applications, including defence (night vision, radiation detectors), aerospace (ion propulsion, atomic clocks), communications (fibre optics) and medical uses (sedatives, epilepsy treatments).

With global production limited and prices high – rubidium carbonate fetches about US$1200–5700/kg, the market is projected to grow from about US$4.5–4.7 billion in 2023 to US$7.2–7.5 billion by 2032, at about 5.5 per cent CAGR, driven by demand for electronics and emerging energy technologies like hydrogen battery storage.

The MRIWA funding, complemented by ECU’s $30,000 in-kind contribution, will leverage MRRC’s expertise in materials science and chemical engineering to advance the project.

Earlier test work at Mt Edon, including ion exchange and acid leaching studies, has demonstrated exceptional recovery rates, positioning Everest as a frontrunner in critical minerals innovation.

Everest’s MRIWA-backed project at Mt Edon is a potential game-changer for a significant component in Australia’s critical minerals sector.

By pioneering rubidium extraction with ECU, Everest is poised to deliver a scalable, high-value industry, with CEO Mark Caruso noting that the funding accelerates Everest’s vision to establish Australia as a global rubidium supplier, unlocking Mt Edon’s potential and driving innovation in critical minerals.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

https://thewest.com.au/business/bulls-n-bears/everest-secures-mriwa-funding-for-wa-rubidium-industry-c-19837096

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