Emerging critical minerals producer Cadoux has acquired a 50 per cent stake in up-and-coming rare earths producer Minhub Operations (MOPL).
The two companies plan to develop a downstream heavy mineral sands processing facility in Darwin in collaboration with Arafura Rare Earths, which has the right to own up to 50 per cent via pro-rata funding with Cadoux.
MOPL is designed to work with emerging mineral sands producers to process xenotime and monazite concentrates for select markets and supply Arafura with rare earths feedstocks.
Cadoux managing director Roland Hill said the company has a clear critical minerals development objective.
“Whilst high purity alumina (HPA) is our core focus, we see a unique opportunity and definite market advantage to Minhub’s development and long-term production strategy of heavy rare earths,” Hill said.
“We have been working closely with MOPL since May last year and are encouraged about project progress and the emerging market potential of the various rare earth streams produced. We will continue to work with MOPL to complete the outcomes defined under our heads of agreement (HOA).
“The Minhub project is innovative in concept, and a very exciting project to be involved with considering the potential commercial benefit that the project offers.”
Cadoux is positioning itself to be a significant producer of both HPA and rare earths to address growing demand in the rapidly developing green technology markets.
So far, Cadoux has developed a process design for the integrated production of high quality HPA predominantly for electric vehicles with sapphire glass and other broader technology applications.
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