Home / Business and Economy / Rare Earths Leap: Critica Secures Vital Magnet Metals
Rare Earths Leap: Critica Secures Vital Magnet Metals
2 Dec
Summary
- Project yields high-value neodymium, praseodymium, and dysprosium oxides.
- Critica achieved a second high-grade mixed rare earth oxide from Jupiter.
- Pilot plant in Hanoi aids in locking final product specifications.
The Jupiter project is demonstrating significant potential by yielding high-value rare earth oxides, including neodymium, praseodymium, dysprosium, and terbium. These elements are indispensable for the production of industrial permanent magnets essential for electric vehicles, renewable energy generation, and defence technologies. Critica Limited's CEO, Jacob Deysel, highlighted the successful production of a second high-grade mixed rare earth and yttrium oxide from a different domain within Jupiter, marking a key validation of the project's scalability and repeatable results.
With a pilot plant in Hanoi, supported by Vietnam's Centre of Science and Technology of Minerals and Environment (GAVQ), nearing commissioning, Critica aims to lock in final product specifications for magnet rare earths, yttrium, and gallium. This facility's output will feed into a scoping study scheduled for early 2025. Concurrently, the Australian Nuclear Science and Technology Organisation (ANSTO) and Minutech are conducting crucial hydrometallurgical programs to refine the beneficiation process, focusing on extraction, leaching, and recovery.
The project's success is particularly noteworthy given China's dominance in the global rare earths supply chain. Jupiter's results, especially the impressive upgrade in yttrium, strengthen its position as a strategically important, scalable, and Western-aligned rare earths development. With a robust technical approach and significant capital recently secured, Critica is well-positioned to meet the growing global demand for rare earth supply.
