ABx Group (ASX:ABX) has announced a potentially globally significant discovery of clay-hosted rare earth elements in Tasmania. The find is exceptionally enriched in terbium and dysprosium, elements critical for military technologies and offshore wind turbines. This discovery aligns with recent global events, including US incentives for critical mineral processing and China’s export restrictions on rare earths. ABx’s Tasmanian rare earth projects, particularly the Deep Leads project near Exton, are well-positioned to capitalize on these opportunities due to their shallow nature and high concentrations of terbium and dysprosium.
The Deep Leads project contains an 89 million tonne resource grading 844 ppm total rare earth oxides (TREO), with desorption tests showing high extraction rates under relatively neutral conditions. The deposit contains 36ppm Tb + Dy, positioning ABx to potentially diversify the global terbium and dysprosium supply chain. Exploration efforts have expanded, with scout holes drilled 52km east of Deep Leads yielding promising results, including high-grade intercepts of up to 3,057ppm TREO.
ABx is leveraging strong relationships with US processing operations, such as Ucore (TSX-V:UCU), to advance its strategy to become a long-term supplier of rare earths. The company’s CEO, Dr. Mark Cooksey, emphasizes the significance of this discovery, particularly in light of China’s export restrictions, and the company’s commitment to low-cost, low-impact exploitation methods. ABx believes it is at the forefront of Australia’s rare earths sector at a critical time of escalating global demand.
