Rubidium Supply Crunch Looms: Can Everest Metals’ Mt Edon Project Deliver?

Robust Drilling Results Reinforce Mt Edon’s Potential

Everest Metals Corporation Ltd (ASX – EMC) has delivered a significant update from its Mt Edon Critical Mineral Project in Western Australia, reporting high-grade rubidium assay results from its Phase 2 drilling campaign. The company completed over 2,500 metres of drilling, including Reverse Circulation (RC), Slimline RC, and Diamond Drilling, with assays confirming rubidium oxide grades reaching as high as 0.79% Rb₂O. These results not only validate the continuity of mineralisation but also highlight the potential to expand the existing resource base.

The drilling program intersected pegmatites in every one of the 19 RC holes, with mineralised pegmatite comprising approximately 62% of the total metres drilled. Notably, thick intervals such as 120 metres at 0.22% Rb₂O from surface, including 26 metres at 0.40% Rb₂O, underscore the deposit’s scale and grade consistency. These findings support the company’s ambition to upgrade the Mineral Resource Estimate (MRE) targeted for the first quarter of 2026.

Advancing Towards Australia’s First Rubidium Production

Mt Edon sits on a granted Mining Lease (M59/714), positioning Everest Metals well to transition from exploration to development. The company is actively preparing a Mining Proposal and Mine Closure Plan aligned with 2025 regulatory guidelines, aiming for submission by late Q1 2026. Baseline environmental studies and geotechnical assessments have been completed, with drone surveys enhancing the 3D modelling of the deposit.

Everest Metals is also progressing comprehensive geometallurgical and metallurgical test work to optimise rubidium recovery. Collaborations with CSIRO and Edith Cowan University are central to these efforts, focusing on mineral characterisation and refining extraction processes. The company has filed a provisional patent for a proprietary Direct Rubidium Extraction (DRE) process, which has demonstrated a 97% rubidium recovery rate in laboratory tests, underscoring the technical viability of Mt Edon’s ore.

Strategic Importance of Rubidium in a Growing Market

Rubidium is a critical mineral with diverse applications spanning defense, aerospace, communications, and medical technologies. Despite its growing demand, global supply remains limited, with China dominating production and processing. Everest Metals’ Mt Edon project offers a rare opportunity to establish Australia’s first producing rubidium operation, potentially alleviating supply constraints in key markets.

The company’s resource currently stands at an inferred 3.6 million tonnes grading 0.22% Rb₂O and 0.07% Li₂O, containing approximately 7,900 tonnes of rubidium oxide. The deposit’s near-surface nature and low stripping ratio make it amenable to cost-effective open-pit mining. With the rubidium market projected to grow at a compound annual growth rate of around 5.5% through 2032, Mt Edon is well positioned to capitalize on rising prices and demand.

Looking Ahead – Resource Upgrade and Pilot Plant Development

While assay results from diamond and slimline RC drilling are pending, Everest Metals plans to deliver a resource upgrade in early 2026. Concurrently, bench-scale beneficiation and extraction optimisation studies funded by the MRIWA METS Innovation Program are underway to bridge laboratory successes to commercial-scale operations.

Further milestones include securing patent grants, completing engineering scoping studies, obtaining mining approvals, and commencing pilot plant construction. These steps will be critical in advancing Mt Edon from a promising exploration project to a pioneering rubidium producer in Australia.