Australian Rare Earths releases compelling PFS, maiden ore reserve on Koppamurra project

A recent Mining Weekly article highlights the strong results delivered by Australian Rare Earths' (ASX:AR3) Pre-Feasibility Study for the Koppamurra rare earths project in South Australia, validating it as among Australia's most advanced ionic clay projects.

The PFS returned a post-tax NPV of A$858m, IRR of 99%, and payback period of 0.9 years, with initial capex of A$178m to reach 1,860t/y of TREO production over a 12-year mine life. The maiden ore reserve of 26Mt at 920ppm TREO — 22% above the global resource average grade — represents the most significant de-risking milestone to date, underpinning mine planning, financing and development.

With ~48% of the rare earth basket comprising high-value heavy and magnet rare earths, and pilot-scale operations at ANSTO's Sydney facility due to commence imminently, the company is positioned to accelerate offtake discussions with strategic partners.

Next steps include DFS initiation, mining lease submission, and advancing offtake and funding discussions.

Read the full article here: https://www.miningweekly.com/article/australian-rare-earths-releases-compelling-pfs-maiden-ore-reserve-on-koppamurra-project-2026-06-25