St George Mining has announced partnerships to advance downstream production of niobium and rare earth elements (REE) from the Araxá Project in Minas Gerais, Brazil.
This development is part of St George’s strategy to enhance its role in Brazil’s critical metals supply chain, focusing on niobium and rare earth processing.
St George signed an MOU with SENAI and FIEMG for a five-year partnership.
The MOU outlines cooperation to produce rare earth magnets at Lab Fab in Lagoa Santa, Minas Gerais.
SENAI’s Rare Earths Institute will collaborate on this initiative, focusing on raw material supply and technological support.
The company is negotiating amendments to the Araxá Project purchase agreement to extend the transaction’s completion timeline.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
While the purchase price remains unchanged, the closing is now expected in the first quarter of 2025. This adjustment allows St George to finalise the transaction with the necessary considerations.
The Araxá Project features high-grade niobium and rare earths, with drilling revealing more than 500 intercepts of mineralisation.
Grades reach up to 8% niobium pentoxide and 33% total rare earth oxides, positioning the project as a key player in the sector. SENAI will assess the existing pilot plant at Araxá for potential reassembly and commissioning.
St George is committed to best practice environmental, social and governance standards and aims to contribute positively to the local community.
The company and SENAI will develop sustainable processes for niobium and rare earth production, including technical training for St George’s project team in Brazil.
St George Mining executive chairman John Prineas said: “We continue to build a strong platform to drive the Araxá Project forward and deliver the successful development of a mining operation.
“The partnership agreements signed with SENAI will support the development of downstream opportunities for St George – further integrating our proposed Araxá operation into Brazil’s supply chains for critical metals.”
The MOUs establish a framework for collaboration, with no additional material terms beyond those announced.
SENAI’s facilities in Lagoa Santa, Belo Horizonte and Itauna will support this initiative, promoting the production of rare earth magnets in Brazil.
