Texas Mineral Resources Corp (TMRC)

[aore]

luka Resources is in talks with a number of overseas governments seeking non-Chinese supply of rare earths as it pushes ahead with plans to become the only fully integrated supplier on Australian soil.

A host of Western nations, including the United States, are believed to speaking to Iluka about support for a rare earths refinery at Eneabba in Western Australia.

Iluka is looking to process large monazite-rich stockpiles at Eneabba as well as eventually taking feedstock from a long-life zircon-rare earths mine it would develop at Wimmera in Victoria.


Iluka Resources managing director Tom O’Leary says the company could become a fully integrated rare earths supplier.

Managing director Tom O’Leary also suggested Eneabba could eventually become a processing hub for third-party rare earths miners if Iluka’s feasibility study stacks ups.

Goldman Sachs has estimated it will cost Iluka about $1.2 billion for a cracking and leaching plant, a refinery producing 20,000 tonnes of rare earths oxides a year and to develop the Wimmera mine, but be worth every penny and potentially ready to go in 2025.