Aussie rare earth juniors shine as US dollars flood Mountain Pass
And just like that, a cluster of ASX-listed explorers, not just in and around MP's Mountain Pass mine in California, but also those with the potential for critical low-cost rare earth production in other favourable locations, find themselves thrust into the geopolitical spotlight.
Locksley Resources, Dateline Resources, Bayan Mining and Minerals, Viridis Mining and Minerals, Eclipse Metals and Red Metal might not be household names. But each holds a piece of ground that now looks an awful lot more valuable, simply because of where it is and what it could become. Welcome to the new world of critical mineral real estate, where the Pentagon is your neighbour and proximity might be among the best commodities of all.
The MP deal is a monster. It will see the DoD become MP Materials' biggest shareholder, underwrite a 10-year offtake agreement for rare earth magnets and bankroll building a second US processing facility. It's not just about shovels and ore - this is industrial policy at full throttle. The goal? Break China's grip on the global magnet supply chain and resurrect a wholly American capability from mine to magnet. And at the centre of it all is MP's Mountain Pass - the only operational rare earths mine in the US.
'This is the most assertive US industrial policy move since the global financial crisis...'
Locksley Resources managing director Nathan Lude
Zoom out just a few kilometres and you'll find ASX-listed Locksley Resources with its El Campo project sitting neatly along strike from Mountain Pass. Its tenements are surrounded on all sides by MP's holdings. It has rock chip samples grading up to 12.1 per cent total rare earth oxides and 3.19 per cent neodymium-praseodymium (NdPr). MP Materials even tried to muscle in - unsuccessfully challenging Locksley's title with the Bureau of Land Management. The bureau sided with the junior, and now drilling permits are in hand with rigs set to roll in September.
According to Locksley managing director Nathan Lude, the significance of the MP deal could not be greater: ' This is the most assertive US industrial policy move since the global financial crisis, and it places Locksley in a unique position to benefit from this strategic realignment. With two fully permitted projects in California, including our El Campo rare earths and Desert antimony assets, we are focused on advancing our multi-commodity, critical minerals drilling programs in the next eight weeks and truly look forward to the opportunity ahead for our investors.'
Notably, as well as its El Campo project, Locksley holds the Desert antimony mine, historically mined in the 1930s. With surface samples returning up to 46 per cent antimony and approvals now locked in, the project adds a critical minerals angle the US government might just find hard to ignore. After all, antimony imports currently account for more than 80 per cent of US demand with most of it coming from China.
Another neighbour is Dateline Resources, the owner of the Colosseum project, just 10km from Mountain Pass. Historically explored for gold, Colosseum holds a 27.1 million tonne JORC-compliant gold resource at 1.26 grams per tonne (g/t) - a glittering prize in its own right.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News AU
2 hours ago
- Sky News AU
Jeffrey Epstein files won't ‘break apart' MAGA base
Journalist Batya Ungar-Sargon challenges the 'obsession' surrounding the Jeffrey Epstein files, arguing it won't 'break apart' the MAGA base. 'I have to say I'm with the President on this, I don't know why people are so obsessed with this story,' Ms Ungar-Sargon told Sky News host Rita Panahi. 'I don't think the average American is thinking about the Jeffrey Epstein file, I think they're thinking about whether groceries are going to go up, I think they're thinking about whether they're going to be able to afford presents for Christmas. 'Anyone who's bothered by this should keep pushing for it, I totally support that and I totally respect it, I just don't see this breaking apart the MAGA base.'
Sydney Morning Herald
2 hours ago
- Sydney Morning Herald
Time to scupper AUKUS and seek clearer waters
Australia is like a fish on a hook with these AUKUS submarines, except that a fish tries to detach itself and find clear water (' PM tested on US alliance ', July 14). Even decades before we are likely to see one of these subs, we have an American undersecretary for defence demanding that Australia commit to deploying the nuclear-powered boats supporting America should there be conflict in the Indo-Pacific. Time for plan B and clearer waters. Lyn Savage, Coogee Australia has a history of joining the US side in military conflicts. This is a strong display of where our allegiances lie. The US administration knows this yet chooses to demand an answer whether we would follow it into conflict with our most important trading partner as we are visiting that partner on a mission to improve trade and diplomatic ties. This deliberate act of sabotage demonstrates the deep lack of regard the US has for Australia's national interests. It is the sort of bullying that would warrant a response by calling the US ambassador to Australia in for a frank discussion. That is not an option because they haven't yet appointed an ambassador. Is that a display of disdain, or is it that they think so little of us that they haven't bothered? James Lawrence, Coogee The Trump administration, through Elbridge Colby, is saying openly what was previously unstated: the AUKUS subs will be paid for by Australia but will be an extension of the US Pacific Fleet. To accept this condition would mean surrendering our sovereignty. The response must be a resounding 'no'. John Richards, Turramurra Some members of the Australian press seem obsessed with questioning whether Anthony Albanese would sanction our involvement with the US in the possible defence of Taiwan against likely Chinese aggression. We ought to be thankful that our prime minister is cautious in making any such commitment. Everyone ought to be aware of the disastrous result of John Howard's full-on support of the military assault on Iraq, sans weapons of mass destruction. And at present, any commitment to the US should be tempered with the knowledge that it is led by an erratic individual whose focus is more on himself than on efforts to create and maintain world peace and stability. Albanese is plotting a measured, careful course, and is obviously keen to build friendship and forge permanent trading ties with our biggest partner in that area. Derrick Mason, Boorowa Kerry Packer once said you only ever get one Alan Bond, and I'm sure the Americans are saying you only ever get one Scott Morrison with the sucker punch of AUKUS. Everyone knows it will cost Australia over $1 trillion and the subs will be outdated if we ever get them. Philip Dowle, Wickham We're flying solo If Australia was depending on the AUKUS agreement to ensure our security, we have been sadly mistaken. We have already seen the condition-ridden approach of the US to AUKUS as being hardly beneficial to our defence capability, and now George Brandis (' Asia-Pacific no longer a focus for UK ', July 14) contends that the UK has shifted its emphasis, understandably, to being Europe-centric. This makes it clear that we are fundamentally on our own, however frightening that may be, with our former allies more intent on their interests on the other side of the world. Thus, it is more imperative that our relations with China remain positive, and this makes Albanese's present excursion to China more important than ever. Paul Keating's contention that our relations in the Asian sector were of prime importance was correct. Max Redmayne, Drummoyne Why our late and unlamented Coalition government ever thought the UK would put serious resources into defence in our part of the world has long been a mystery. So it's no surprise that the Asia-Pacific region is of marginal interest to the Starmer government. Much better to have joined with the French, who actually have a Pacific presence. AFUS, anyone? Greg Baker, Fitzroy Falls Missed opportunity The letter from your correspondent (Letters, July 14) cries out for a response. His suggestion that an Indigenous Voice 'would introduce racism into the parliament' is complete and utter nonsense. Given the entrenched disadvantage of Aboriginal and Torres Strait Islander peoples, seen in and through government systems and practices since colonisation, I think we can safely say that his point is moot, to say the least. The No vote was, sadly, a missed opportunity for parliament to listen to an advisory body whose stated purpose was to help bring about a more equitable and just future for our Indigenous peoples – something that successive governments themselves, via their Closing the Gap strategies, have said and shown is necessary. I am tired of seeing and hearing such narrow, ignorant and disingenuous views of both our nation's history and of the Voice proposal: 'trickery' it was not. As Thomas Mayo reminds us, speaking about Indigenous history, 'We were once remarkably peaceful and happy, and we want that for our children today'. Is that too much to ask? Kerrie Wehbe, Blacktown The frustration concerning racist sentiment against Indigenous people shown by your correspondent is palpable, but I feel his comments that trivialise those who, for example, attend NAIDOC events are off the mark. Change does not generally come about in the style of the French Revolution. It comes about by thousands of individuals showing their support for a cause in any way they can, no matter how small, day after day after day. No one's denying we have a long way to go, but we should also not deny that overall support for Aboriginal people and their aspirations is light years ahead of where it was 50 years ago. Ross MacPherson, Seaforth The failure of the 2023 constitutional recognition referendum was disappointing enough without yet another attempt to rewrite its history. There were five years of consultation with Aboriginal and Torres Strait Islander peoples throughout Australia, leading to the 2017 Uluru Convention, which delivered the Uluru Statement from the Heart. The statement calls for 'Constitutional reforms to empower our people'. More specifically, 'We call for the establishment of a First Nations Voice enshrined in the Constitution'. The government decided to hold a referendum in 2023 to implement this request. There were not 'two separate issues'. Indeed, during this consultation process, the powerless symbolic recognition option favoured by your correspondent was one of several options rejected by Aboriginal and Torres Strait Islander peoples and by conservative constitutional lawyers. Symbolic recognition had been comprehensively rejected by the voters in the 1999 constitutional preamble referendum. In the 1967 referendum, voters overwhelmingly approved constitutional changes to give Aboriginal and Torres Strait Islander peoples the same rights as those enjoyed by all other Australians. In 2023, voters refused to include a powerful specific Voice for Aboriginal and Torres Strait Islander peoples in the Constitution. David Hind, North Sydney Racism is a failure to love our neighbour as ourselves. Racism is a failure of compassion. Such failure separates us from each other and violates our shared humanity. Racism makes slaves of us all. Mark Porter, New Lambton Rights, wrongs and the RBA Consternation about leaving interest rates on hold has been grist for the media mill (' If RBA is misguided on rates, we'll suffer from its fumbling ', July 14). A broader perspective would lament the lingering political and cultural quagmire driven by concern for housing borrowers. Housing borrowers were disadvantaged by the reluctance to increase taxes to manage demand. That left interest rate increases as the default option to control inflation. Conversely, while existing housing borrowers are savouring capital gains, new borrowers, paying higher prices, will be joining the queue looking for empathy. Savers funding housing borrowers get short shrift in quagmire-politics. When the inflation target is 2.5 per cent, and marginal tax rates are as high as 50 per cent, a cash rate of 5 per cent converts to 'zero' – and a net loss as things stand. On this reckoning, at least holding interest rates steady is more appropriate than rate reductions likely to exacerbate the crisis in housing affordability. Peter Mair, Dee Why I have already woken up to the fact that there is 'a better way to manage the strength of demand'. The RBA has reverted to direct control of interest rates, a practice that that was discredited and dumped last century. Don't play the poor mortgagors card. Paying back has always been difficult, but the rewards are great – just ask renters and the homeless. No, the fact is the RBA is impotent. A move in the cash rate is a two-edged sword because a reduction, say, is simply a transfer of spending power from lenders to borrowers. For all we know, that could lead to a reduction in aggregate spending at present. Your mortgagors will gleefully pay down their loans and, as surveys have suggested, increase spending hardly at all. From Gittins' previous writings, I get the impression that he too sees that stabilisation policy needs to be left to fiscal policy, which has a much more direct and measurable effect on the relevant targets – employment and inflation. Mike Bush, Port Macquarie I'd feel more comfortable about the RBA getting monetary policy settings correct if Ross Gittins were on the board. Mike Kenneally, Manly To be frank In relation to the upcoming productivity roundtable, the Commonwealth Bank does not want corporate tax rates to be reduced ('If life's a box of chocolates, tax reform takes the cake', July 14). But wait; a lower tax rate means a lower franking credit for its shareholders and more tax they might have to pay. Maybe the bank is also keeping one eye on its stratospheric share price. Michael Blissenden, Dural Debacle, baby, debacle Nick O'Malley (' Big toxic bill will cost US, and us all, ' July 14) is right to point to the potentially ruinous economic consequences of Trump's laughably misnamed big, beautiful bill. It should more realistically be seen as the belligerent belting of brother democracies. This is especially so in terms of its impact on climate change policy; the less we do and the more we procrastinate about this existential threat to human existence, the more we will pay. Though we cannot escape all the adverse effects of Trump's poisonous policies, we must redouble our own efforts to rid ourselves of fossil fuel dependence. Paying to do so now is essential. Ron Sinclair, Windradyne With Donald Trump urging American companies to 'drill, baby, drill', the United States and China are now headed in opposite directions regarding energy. China is electrifying its economy and installing renewables at unprecedented speed. The US, by contrast, is betting the house on energy sources that have been around for over a century and cannot benefit from technical innovation. Unfortunately, the economics do not favour the US model, meaning that American policy is setting China up to be the dominant power in coming decades. While this might be good for the planet, as China's emissions are now heading down, it is definitely not good for nations that depend on the United States for leadership and defence. The US urgently needs to change direction. It may never catch up. Ken Enderby, Concord Fridge on wheels I hope that commuters from the Blue Mountains enjoy the new trains after waiting so long (' Mountains commuters in line for new trains ', July 14). They are much better, but they are cold. The air conditioning seems to have only one switch, and on a cold winter's morning it can be unpleasant. Transport for NSW says you need to tell them which carriage number, as it may be a solenoid or something isolated, but a recent Saturday morning radio discussion about the trains had a number of people making the same complaint. The wider doors are very useful compared to the narrow ones but on a cold blustery day one dreads doors opening as the whole carriage can suffer. And why bother with those stupid little seats at the top of the stairs which simply cannot accommodate anyone bigger than four years old? Just put in shelves for the power outlets. You still get passengers loudly noting that he seats are facing 'the wrong way', of course. Tony Sullivan, Adamstown Heights Rescue the Roxy How the Roxy (' Historic theatre sits unloved for more than a decade ', July 14), only the second cinema in NSW to be added to the National Trust Register, could have been sold off privately and not supported and maintained by successive state governments is beyond comprehension. So little now remains of the history of Parramatta that it is soul-less as Sydney's 'second city'. George Zivkovic, Northmead Another building suffering dire neglect is the small 1920s Moorish-style service station on the corner of Princes Highway and Canal Rd, St Peters. After the government spending squillions of dollars on the M8, nothing has been done to resurrect this small gem or turn it into something useful. John Swanton, Coogee Fuel folly It is pure folly to think that EV trucks will ever be used in Australia's remote places (' Road ahead for electric big trucks a long-haul ', July 14). There isn't any grid electricity where they go. David Sayers, Gwandalan
West Australian
2 hours ago
- West Australian
Lithium Universe targets silver through solar panel recycling
Lithium Universe Limited has kicked off a pioneering project to extract silver from discarded photovoltaic (PV) solar panels, leveraging technology developed by scientists at Macquarie University in Sydney. Global silver demand is set to reach a record 680 million ounces in 2025, driven by a 7 per cent compound annual growth rate in industrial use, photovoltaics and artificial intelligence, triggering an anticipated 117.6-million-ounce market deficit for the expensive and relatively rare metal. Each solar panel contains about 20 grams of silver, worth $36 at current prices, which is used to make conductive paste for electrical contacts. Silver prices have surged 126 per cent from US$15 an ounce in 2018 to US$34 an ounce in 2025, underscoring the economic potential of recycling. Lithium Universe secured exclusive global rights to Macquarie University's innovative microwave joule heating technology (MJHT) in June 2025. The technology uses microwaves to soften the plastic encapsulant in the solar panels, enabling efficient delamination of the panels at room temperature, avoiding the need for high heat or the release of toxic chemicals. The process facilitates cleaner material separation when compared with traditional mechanical crushing and recycling, which also typically results in lower recovery rates. A complementary silver extraction technology for delaminated silicon wafers is under patent development and will be licensed to Lithium Universe when finalised. The company is also conducting independent research to optimise silver recovery methods. Global PV solar panel waste is projected to reach 60–78 million tonnes by 2050, with Australia alone expecting 1Mt by 2035, valued at more than $1 billion. Only 15 per cent of PV cells are currently recycled globally due to the complex processes involved, which sees most scrap panels discarded in landfills. Lithium Universe's initiative positions it to capitalise on a potential $154 billion silver recovery market. Future development phases will also explore the extraction of silicon, gallium and indium, which are critical for semiconductors and solar technology and could help strengthen vulnerable supply chains dominated by China. China is the dominant global supplier of both gallium and indium, producing about 80 per cent of gallium and more than 60 per cent of indium supplies. Gallium is primarily a by-product of aluminium production, while indium is extracted during zinc mining. Other notable, albeit smaller, gallium producers include Germany, Kazakhstan and Ukraine, while Canada and Peru are significant producers of indium. With piles of valuable waste building up on the horizon, Lithium Universe's innovative approach to the global issue of burgeoning waste solar panels aims to enhance sustainability and economic returns in the clean energy sector. Is your ASX-listed company doing something interesting? Contact:
