Everest Metals has announced that it has executed a research agreement with Edith Cowan University Mineral Recovery Research Centre for extraction of rubidium from a Western Australian critical mineral project.
Rubidium and mica will be extracted using the direct rubidium extraction process from the Mt Edon project in the MidWest region of Western Australia, 400km northeast of Perth.
Intellectual property rights derived from the research will be owned by Everest Metals and mine studies will move concurrently with rubidium and mica product development.
Everest Metals’ CEO and Executive Chairman, Mark Caruso, said, “The Agreement with Edith Cowan University Mineral Recovery Research Centre is a key step in commercialising Everest Metal’s unique Muscovite hosted rubidium and mica deposit which sits on an existing mining lease, 350km from the midWest Port City of Geraldton.”
Mr Caruso said that Everest Metals is very encouraged by strong global demand for Mica at USD$300 p/t and growing demand for Rubidium, despite the USD$1,200 p/kg price tag.
“As high value rubidium grades are primarily associated with well developed white mica (Muscovite), mica would be a byproduct during the rubidium extraction process, which has the ability to favourably impact the project’s economics.
“Further, with rubidium having been designated as a critical mineral by the US Geological Survey, particularly in military industrial use, the forward pricing fundamentals remain strong.”
