RareX acquires district-scale Khaleesi niobium project

RareX (ASX: REE) chief executive officer James Durrant joins Small Caps to discuss the company's plan to significantly increase its niobium exposure with the acquisition of a district-scale project in Western Australia.
Already the holder of significant niobium and rare earths resources at its Cummins Range project in northern WA, RareX has now added six highly prospective tenements at the new Khaleesi project.
Khaleesi is located along strike from the rich Ponton Dyke, which has returned some of Australia’s best rare earth intersections.
RareX is already preparing to fast-track an exploration program which will target areas of elevated niobium within the project area.
Niobium is a critical metal that is considered rare and difficult to find. It is attracting growing interest around the world as new uses for its many unique capabilities are uncovered.
The global niobium market size was valued at $3.5 billion in 2022 and is tipped to reach $4.3 billion in 2028, with a CAGR of 3.78% during 2024-2030.
Niobium has been listed as a critical metal in many jurisdictions due to it being an essential component in many high-strength corrosion-resistant low-alloy (HSLA) steels and superalloys and because of its high supply risk; a single country, Brazil, is responsible for over 90% of global niobium production.
New technology uses for the metal are expected to drive market growth in coming years.
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