St George Mining Limited recently completed the delivery of rare earth samples from its wholly-owned Brazilian Araxá project to the MagBras project, with a total volume of 30 kg. This delivery marks a milestone as it is the first time that the mining developer has provided rare earth products to MagBras.
The MagBras project, a model of public-private partnership, is committed to establishing an entire industry chain for rare earth magnet manufacturing in Brazil. The received rare earth samples, in the form of oxalate, were meticulously produced at the pilot plant in Araxá.
To further deepen cooperation, St George Mining and MagBras have jointly signed a cooperation agreement. The agreement aims to promote the R&D of permanent magnets by leveraging the abundant high-grade rare earth resources in the Araxá region, jointly exploring new possibilities for industrial development.
In addition, drilling work is in full swing at the Araxá project site. Currently, five drilling rigs are operating at full capacity, with plans to carry out over 9,000 meters of diamond drilling. This initiative is a crucial part of expanding and updating the existing mineral resource assessment program. It is worth mentioning that the proven JORC-compliant resources at Araxá are remarkable, with a rare earth oxide content of up to 4.13% and a total volume of 40.64 million mt, while the niobium content reaches 0.68% with a total volume of 41.2 million mt, demonstrating the immense development potential of