St George Mining has announced partnerships to advance the 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 strengthen its role in Brazil’s critical metals supply chain, with a focus on niobium and rare earth processing.
St George signed an MOU with SENAI and FIEMG for a five-year partnership.
The MOU outlines the collaboration to produce rare earth magnets at Lab Fab in Lagoa Santa, Minas Gerais.
SENAI’s Rare Earths Institute will collaborate on this initiative, with a focus on raw material supply and technology support.
The company is negotiating amendments to the Araxá Project purchase agreement to extend the completion time of the transaction.
While the purchase price remains unchanged, closing is now expected in the first quarter of 2025. This adjustment allows St George to complete the transaction with due consideration.
The Araxá project features high-grade niobium and rare earth metals, with drilling revealing more than 500 mineralization intercepts.
The grades reach up to 8% niobium pentoxide and 33% total rare earth oxides, making the project a major player in the sector. SENAI will assess the existing pilot plant in Araxá for possible reassembly and commissioning.
St George is committed to environmental, social and governance best practice and strives to make a positive contribution to the local community.
The company and SENAI will develop sustainable processes for the production of niobium and rare earth metals, including technical training for the St George’s project team in Brazil.
John Prineas, executive chairman of St George Mining, said: “We continue to build a strong platform to advance the Araxá project and achieve the successful development of a mining operation.
“The partnership agreements signed with SENAI will support the development of downstream capabilities for St George – further integrating our proposed Araxá operation into Brazil’s supply chains for critical metals.”
The MOUs form a framework for cooperation, without additional material conditions beyond those announced.
SENAI’s facilities in Lagoa Santa, Belo Horizonte and Itauna will support this initiative and promote the production of rare earth magnets in Brazil.
“St George Signs Partnerships in Brazil for Niobium and Rare Earth Processing” was originally created and published by Mining Technology, a brand owned by GlobalData.
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