The two metals are critical to the manufacture of permanent magnets used in electric vehicle motors, wind turbine generators and electronics. The minerals are also accompanied by two other critical metals, niobium and yttrium, which the company believes could be potential by-product credits.
The historic Ivigtรปt cryolite mine site, about 4km southwest of Grรธnnedal, makes up the companyโs second prospect within its broader Ivigtรปt project area.
While the old cryolite mine worked a polymetallic fluorine-rich system, the waste-dump assays also report a smorgasbord of metals, including elevated silver, zinc-lead-copper, gallium, lithium and rubidium responses.
The dump also revealed rare-earth-related carbonatitic alteration, which Eclipse believes could offer near-term upside from reprocessing using existing infrastructure.
As well as the historic samples now in Perth, core from Eclipseโ 2025 diamond drilling program is also inbound and expected at ALSโs lab this month for analysis and further metallurgical studies.
The companyโs steady march towards rare earths production comes as global attention sharpens on locking in secure, allied supplies of critical minerals.
Adding fuel to the fire, President Trump has repeatedly argued the US should control Greenland to secure its future supply of critical minerals.
Just days ago, Australia also weighed in, flagging antimony, gallium and rare earths as top priorities under a $1.2 billion strategic reserve aimed at strengthening supply chains for defence, renewables and high-tech industries in the face of Chinaโs dominance.
Treasurer Jim Chalmers is currently briefing US and G7+ allies in Washington on the initiative, building on recent pacts and discussions to counter vulnerabilities.
These risks were recently highlighted by Chinaโs seizure and subsequent return of a 55-tonne shipment of Australian antimony concentrate from Alkane Resources that was destined for a US defence supplier.
The vessel was held for three months at Ningbo port and released on condition that it return to Australia.
The incident exposed Chinaโs control of transit points and its ability to dominate the critical mineral market by exerting political leverage in response to US restrictions on Chinaโs semiconductor industry, even affecting non-Chinese sourced materials.
With rare earths now a frontline priority in allied nationsโ strategies to diversify away from concentrated supply risks – underscored by Australiaโs new reserves and ongoing Washington talks – Eclipseโs progress would appear to position the company squarely in the frame for potential strategic partnerships and accelerated development.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
