How Did BCM Turn Low-Grade Field Solution into 50% TREO Rare Earth Carbonate?

Breakthrough in Rare Earth Extraction at Ema

Brazilian Critical Minerals Ltd (ASX – BCM) has announced a significant technical milestone at its Ema Project in Brazil, successfully producing a high-grade mixed rare earth carbonate (MREC) product containing 50% total rare earth oxides (TREO) from a low-grade, off-spec pregnant leach solution (PLS). This achievement validates the company’s in-situ recovery (ISR) extraction process under real field conditions and confirms the commercial viability of its carbonate precipitation pathway.

The initial batch was generated using just 1,000 litres of low-grade PLS averaging 326 ppm TREO, yet yielded approximately 300 grams of high-purity MREC. This product meets or exceeds export-quality standards, typically benchmarked at over 45% TREO, positioning BCM’s output well within commercial specifications.

Economic Implications and Process Efficiency

The composition and economic basket price of the MREC product are particularly noteworthy. The basket price of USD 34.05 per kilogram of TREO surpasses the USD 30.93 figure used in BCM’s February 2025 scoping study, which had forecasted a project net present value (NPV) of USD 498 million and an internal rate of return (IRR) of 55%. This suggests that the value of the recovered rare earth elements is driven not only by feed grade but also by the efficiency of the recovery process and the favourable distribution of rare earth elements in the product.

Managing Director Andrew Reid highlighted the simplicity and effectiveness of the process, noting that the same chemicals and conditions used in this test will be applied in commercial scale-up. The test also provided valuable insights into chemical handling, pH control, and impurity removal, all critical factors for refining the process ahead of full-scale production.

Next Steps – Optimisation and Feasibility

Following this success, BCM has engaged the Australian Nuclear Science and Technology Organisation (ANSTO) to conduct optimisation trials focusing on pH and carbonate dosing parameters to further improve recovery efficiency and product quality. These trials will inform the upcoming Definitive Feasibility Study (DFS), scheduled for completion in the first quarter of 2026.

Meanwhile, BCM continues resource extension drilling and regulatory engagement to support permitting and project development. The Ema Project’s mineral resource estimate remains robust, with an indicated and inferred resource of 943 million tonnes at 716 ppm TREO, among the highest metallurgical recoveries globally for ionic adsorbed clay deposits.

Significance for Rare Earth Supply Chains

This advancement underscores BCM’s potential to become a key player in the rare earths sector, particularly given the strategic importance of rare earth elements in clean energy technologies and electronics. The successful demonstration of ISR technology at Ema could offer a lower-impact, cost-effective alternative to traditional mining methods, enhancing supply chain resilience amid growing global demand.