Latest news with #Astron
West Australian
7 days ago
- Business
- West Australian
Farmer fury over rare earths mine approval
A state government has promised regional jobs and growth after rubber-stamping one of the world's largest rare earths mines, but farmers say their concerns and rights have been bulldozed. Mining company Astron's Donald Rare Earths and Mineral Sands Project won Victorian state government approval on Wednesday, the last regulatory hurdle for mine's first stage, which will upend more than 1100 hectares of broadacre and livestock farmland in the state's west. The majority of impacted farmers in the tiny town of Minyip, 320 kilometres northwest of Melbourne, first heard the news when they were contacted by the media after Astron's ASX announcement. "All we've seen is, frankly, fluff from the mining company and the government department has followed suit with very poor connection with the people directly affected," third-generation grain farmer Andrew Weidemann told AAP. "It's very disappointing, given that the government has always been saying the mining company was supposed to be good corporate citizen and meet with people." Mr Weidemann said farmers would be taking their fight to the steps of parliament, and to the courts over a failure to provide impacted farmers with key documentation. Farmers say Astron's plans to gradually rehabilitate land as mining progresses won't be enough to return it to pre-mining productivity, due to the soil's unique clay structures and water retaining ability in one of the driest parts of the state. "This soil type has not been mined before - they're open about that," Mr Weidemann said. "We've seen where other mines have operated, particularly up at Ouyen ... where the land has still not been repaired back to anywhere near its potential usable state for agricultural purposes." Dust contamination, including from radioactive dust, is also a major concern for neighbouring farmers. Rare earths elements and mineral sands are used in a number of high technology and defence applications, including batteries, electric cars and wind turbines. Donald Mineral Sands, which would become the fourth-largest mine of its kind in the world, is projected to produce 7000 tonnes of rare earth concentrate and 250,000 tonnes of heavy mineral concentrate each year, with a mine life of 41 years, Astron chief executive Tiger Brown said. "We've been working with the department (of energy and resources) on requirements and ensuring that our project stands up to Victoria's regulatory regime," he said. Roughly 200 jobs would be created during construction, along with another 180 to 200 full time jobs directly employed by the mine and Astron expected to inject $480 million of investment into the local economy. The Victorian government was kick-starting Victoria's "critical minerals boom", energy and resources minister Lily D'Ambrosio said. "All mining processes in Victoria are heavily regulated and the safety of the community, environment and infrastructure is built into key approvals," she said in a statement. The Donald Project's minerals will be sent straight to Astron's United States joint venture partner Energy Fuels for processing and sale in the US. "Energy Fuels plans to import the rare earth minerals from the Donald Project into the USA, where we will process them into separated oxides at our mill in Utah for domestic and other customers," Energy Fuels chief executive Mark Chalmers said in a statement.
Perth Now
7 days ago
- Business
- Perth Now
Farmer fury over rare earths mine approval
A state government has promised regional jobs and growth after rubber-stamping one of the world's largest rare earths mines, but farmers say their concerns and rights have been bulldozed. Mining company Astron's Donald Rare Earths and Mineral Sands Project won Victorian state government approval on Wednesday, the last regulatory hurdle for mine's first stage, which will upend more than 1100 hectares of broadacre and livestock farmland in the state's west. The majority of impacted farmers in the tiny town of Minyip, 320 kilometres northwest of Melbourne, first heard the news when they were contacted by the media after Astron's ASX announcement. "All we've seen is, frankly, fluff from the mining company and the government department has followed suit with very poor connection with the people directly affected," third-generation grain farmer Andrew Weidemann told AAP. "It's very disappointing, given that the government has always been saying the mining company was supposed to be good corporate citizen and meet with people." Mr Weidemann said farmers would be taking their fight to the steps of parliament, and to the courts over a failure to provide impacted farmers with key documentation. Farmers say Astron's plans to gradually rehabilitate land as mining progresses won't be enough to return it to pre-mining productivity, due to the soil's unique clay structures and water retaining ability in one of the driest parts of the state. "This soil type has not been mined before - they're open about that," Mr Weidemann said. "We've seen where other mines have operated, particularly up at Ouyen ... where the land has still not been repaired back to anywhere near its potential usable state for agricultural purposes." Dust contamination, including from radioactive dust, is also a major concern for neighbouring farmers. Rare earths elements and mineral sands are used in a number of high technology and defence applications, including batteries, electric cars and wind turbines. Donald Mineral Sands, which would become the fourth-largest mine of its kind in the world, is projected to produce 7000 tonnes of rare earth concentrate and 250,000 tonnes of heavy mineral concentrate each year, with a mine life of 41 years, Astron chief executive Tiger Brown said. "We've been working with the department (of energy and resources) on requirements and ensuring that our project stands up to Victoria's regulatory regime," he said. Roughly 200 jobs would be created during construction, along with another 180 to 200 full time jobs directly employed by the mine and Astron expected to inject $480 million of investment into the local economy. The Victorian government was kick-starting Victoria's "critical minerals boom", energy and resources minister Lily D'Ambrosio said. "All mining processes in Victoria are heavily regulated and the safety of the community, environment and infrastructure is built into key approvals," she said in a statement. The Donald Project's minerals will be sent straight to Astron's United States joint venture partner Energy Fuels for processing and sale in the US. "Energy Fuels plans to import the rare earth minerals from the Donald Project into the USA, where we will process them into separated oxides at our mill in Utah for domestic and other customers," Energy Fuels chief executive Mark Chalmers said in a statement.
Cision Canada
26-06-2025
- Business
- Cision Canada
Energy Fuels' Donald Rare Earth and Mineral Sand Joint Venture in Australia Receives Final Major Regulatory Approvals
The Donald Project, a JV between Energy Fuels and Astron Corporation, is considered one of the World's best near-term sources of rare earth minerals, which Energy Fuels intends to process into "light", "mid" and "heavy" rare earth oxides at its White Mesa Mill in Utah. DENVER, June 25, 2025 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels" or the " Company"), a leading U.S. producer of uranium, rare earth elements (" REEs"), and other critical minerals, is pleased to announce that the Government of Victoria, Australia has approved the Work Plan for the construction and operation of the Donald Rare Earth and Mineral Sand Project (the " Donald Project") located in the Wimmera region of Victoria. This is the final major regulatory approval required to construct and operate the Donald Project. It enables the finalization of critical activities, including arrangements for debt and equity financing, before a final investment decision (" FID") can be made. The Donald Project is a joint venture (" JV") between US-based Energy Fuels and Australia-based Astron Corporation Limited (" Astron"), under which Energy Fuels has the right to invest a total of AU$183 million (US$119 million at current exchange rates), plus issuance of US$17.5 million of common shares, to earn up to a 49% interest in the project. The Donald Project is expected to provide Energy Fuels with a low-cost and long-term allied supply of monazite- and xenotime-bearing REE mineral concentrate (" REEC"), which the Company plans to import into the U.S. for processing into high-purity separated REEs at the Company's White Mesa Mill in Utah (the " Mill"), including neodymium-praseodymium (" NdPr"), terbium (" Tb"), dysprosium (" Dy"), and potentially samarium (" Sm") and others. Mark S. Chalmers, President and CEO of Energy Fuels stated: "The Work Plan approval for the Donald Project is significant as it moves us one step closer to creating an important link between the United States and Australia on rare earths and critical minerals. We believe the Donald Project is exceptional, as it contains large quantities of the 'light', 'mid' and 'heavy' rare earth oxides needed for a variety of commercial, clean energy and defense technologies. Energy Fuels plans to import the rare earth minerals from the Donald Project into the USA, where we will process them into separated oxides at our Mill in Utah for domestic and other customers." Once in operation, the Donald Project JV will sell: (i) all the REEC to Energy Fuels at then-prevailing market prices and (ii) the titanium and zircon heavy mineral sand concentrate (" HMC") to Astron or other global customers. Following payment of all JV expenses, all profits from the JV will be distributed to Energy Fuels and Astron, pro rata according to their respective ownership interests. This arrangement is expected to provide Energy Fuels with a low-cost and large-scale source of REE feedstock for several decades. This June 3, 2024 news release describes additional terms of the JV. Phase 1 of the Donald Project is expected to supply Energy Fuels with approximately 7,000 – 8,000 metric tons (" tonnes") of REEC per year (" Donald – Phase 1"), commencing as early as 2026. 8,000 tonnes of REEC from the Donald Project would contain approximately 4,700 tonnes of total REE oxides (" TREO"), including roughly 990 tonnes of separated NdPr, 84 tonnes of Dy oxide, and 14 tonnes of Tb oxide. Energy Fuels has the current installed "Phase 1" capacity at the Mill in Utah to process the Donald – Phase 1 quantities of REEC into separated NdPr, along with a samarium-plus (" Sm+") REE concentrate. The Sm+ concentrate would be stockpiled at the Mill for future processing into separated "mid" and "heavy" REE oxides in the planned Phase 2 expansion of the Mill (the " Phase 2 Mill Expansion"). As soon as practicable after commencing the Donald – Phase 1 commercial production, Energy Fuels and Astron expect to evaluate constructing Phase 2 of the Donald Project, which would be expected to increase production to approximately 13,000 to 14,000 tonnes per year of REEC, providing a consistent and significant source of REE feedstock for Energy Fuels for decades to come. As also previously reported, Energy Fuels expects to complete the Phase 2 Mill Expansion to enable the processing of up to 60,000 tonnes of REEC into up to roughly 6,000 tonnes of separated NdPr, along with significant quantities of Tb, Dy, and potentially Sm and other REE oxides. Therefore, the Donald Project's 13,000 to 14,000 tonnes of REEC have the potential to fill roughly 22% - 23% of the planned capacity of the Phase 2 Mill Expansion. Energy Fuels and Astron are currently working towards an FID for the Donald Project, which could be made as early as the end of 2025. The FID and development of the project could be significantly accelerated with U.S. and/or Australian government support. With the Work Plan approval, construction on the Donald Project could begin within weeks of a positive FID. Energy Fuels believes the Donald Project is one of the best, near-term sources of "mid" and "heavy" REEs needed for numerous commercial and defense applications, due to the high relative concentrations of xenotime in the REEC. Xenotime is a phosphate mineral like monazite, which is enriched in "mid" and "heavy" REE oxides, and is found alongside monazite in many mineral sand deposits. Monazite and xenotime can be processed together in the Mill's circuits. About Energy Fuels Energy Fuels is a leading US-based critical minerals company, focused on uranium, rare earth elements, heavy mineral sands, vanadium and medical isotopes. Energy Fuels, which owns and operates several conventional and in-situ recovery uranium projects in the western United States, has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, Energy Fuels also produces advanced rare earth element products, vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments. Energy Fuels is also developing three (3) additional heavy mineral sands projects: the Toliara Project in Madagascar; the Bahia Project in Brazil; and the Donald Project in Australia in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. Energy Fuels is based in Lakewood, Colorado, near Denver, with its heavy mineral sands operations managed from Perth, Australia. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and its common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." For more information on all Energy Fuels does, please visit This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will successfully develop the technical ability required to commercially produce light, mid and/or heavy REE oxides at scale through expansion of its existing REE production capability in Utah; any expectation that the Company will be able to produce any rare earth oxides relatively quickly with appropriate government support and/or market conditions, or otherwise; any expectation that the Company may receive government support or that market conditions may support rare earth production; any expectation as to the Company's production capacity or expected timelines to production; any expectation as to the actual production of rare earth concentrates that may be achieved at the Donald Project during any phase of production; any expectation as to estimated recoverable rare earth oxides; any expectation that the Company will receive all necessary permits, government approvals, financing and development required for the Donald Project to go into production or to allow for the Phase 2 Mill Expansion or to allow for the export of radioactive material from Australia to the United States; and any expectation that a positive FID will be made for the Donald Project and if made the timing of any such positive FID. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition from other producers; government and political actions or inactions; market factors, including future demand for rare earth elements, titanium and zirconium; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at on SEDAR at and on the Company's website at Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.
IOL News
17-06-2025
- Business
- IOL News
Glencore makes R2. 8bn payments to South Africa amid energy transition plans
Glencore expects to fulfil expenditure obligations related to its acquisition of Astron by September 2027 after initial payments totalling $185m as at September last year. Image: Reuters Tawanda Karombo Glencore on Thursday said it made tax, royalty and duty payments amounting to $157 million (around R2.8 billion) to South Africa in 2024 as it considers dialogue with government and other players as key for the country's energy transition. In the year to December 2024, Glencore's total payments to governments in markets in which it operates topped $3.7bn, calculated 'in line' with the UK Transparency Requirements. Over the same period, Glencore suffered about $611m worth of impairments in its South African operations, significantly contributing to the company's $1.6bn in losses to equity holder. The $157m in payments to the South African government for 2024 were accounted for by $111.5m in income taxes, $45.3m in royalties. An additional $1.2bn in 'taxes and duties relating to non-extractive activities plus other taxes' was also paid to SA during the same period, said the company. By province, the multinational commodity trading and mining company's ferroalloys project in Limpopo paid $69.7m to the government while its energy coal operation in Mpumalanga contributed $41.1m. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The company's manganese project in the Northern Cape made payments of $2.2m, in addition to the $43.8m paid by its ferroalloys operation to the North West provincial government. Glencore expects to fulfil expenditure obligations related to its acquisition of Astron by September 2027 after initial payments totalling $185m as at September last year. Despite taking impairments to its South African operations in the past year, Glencore has committed to its 2024-2026 Climate Action Transition Plan. The company has 'determined that the relevance of a just and orderly transition for our industrial business is greatest in Colombia and South Africa' where it is focusing its efforts. 'The complexity of the energy transition in South Africa and the scale and potential significance of its impacts mean a multi-stakeholder approach is essential,' noted Glencore. 'We welcome ongoing efforts, and particularly support dialogue with all industry participants to help holistically identify and mitigate risks associated with operational changes.' It said it deemed dialogue as key to enable a transparent, predictable, and stable approach to the energy transition in South Africa. Moreover, Glencore said the predictability of the transition roadmap around planned closures of coal-powered power stations was necessary to enable a robust response that deploys actions in an effective manner supportive of communities. Some of Glencore's coal operations in South Africa are located in a designated Renewable Energy Development Zone. It said the rehabilitation plans for the coal mines created opportunities 'to investigate renewable energy generation facilities for community use as long-term alternative land use' options. 'We support the efforts by the South African government to develop the policy framework that enables the just and orderly transition, and to commence the relevant planning,' it said. Glencore is supportive of the planned implementation of virtual wheeling, which allows consumers to purchase renewable power from any producer across the country. This allows companies with multiple smaller and low-voltage loads across various geographic areas in South Africa to participate in the energy market.
Sydney Morning Herald
16-06-2025
- Business
- Sydney Morning Herald
Astron plans shift back home to redomicile in Australia
Rare earths player Astron Corporation is set to bring its global operations under a fully Australian banner, unveiling plans to shift the company's corporate headquarters and share listing from Hong Kong to Australia. The redomicile move will trigger the formation of a new listed Australian entity, Aus NewCo, to take the reins as Astron's new head company, replacing its current Hong Kong-based parent. As part of the move, Australian shareholders will be asked to swap their CHESS depositary interests (CDIs) for shares in the new Australian entity on a two-for-one basis, while the Hong Kong investors' holdings will be relisted locally and remain unchanged. Astron's shares have for years traded on the ASX as CDIs, limiting shareholders' voting rights and complicating their ownership. The new structure will give shareholders direct voting power and ordinary shares, bringing the company in line with its typical Australian-listed peers. A first hearing with Hong Kong's Court of First Instance has been locked in for next week, with a crucial shareholder vote set for July 30. If approved, Astron's CDIs will cease trading on August 20, and shares in Aus NewCo will begin trading a day later. The company expects the Australian Taxation Office to issue a class ruling confirming the redomicile qualifies for capital gains rollover relief to ensure the swap won't trigger a tax bill for investors. Astron says it has always seen itself as an Australian miner and the restructure will cement that identity. The move paves the way for smoother shareholder engagement, stronger governance and closer alignment with its local investor base as it powers ahead with its Donald rare earths and mineral sands project in Victoria. Notably, the change is expected to simplify Astron's compliance burdens. Currently, even basic transactions such as buying land in Australia require Foreign Investment Review Board approval – a hurdle the company says will be swept away when it is becomes a legal Australian entity. The move is also tipped to make the company more attractive to retail and institutional investors and help attract and retain local talent.
