Everest Metals has been awarded AU$490,500 in grant funding to pioneer Australia’s first rubidium industry at Mt Edon critical minerals project in Western Australia.
Everest, in partnership with Edith Cowan University, secured the funding under Australia’s Economic Accelerator Ignite Round 2 program.
The 12-month initiative, starting January 2026, will fast-track development of Everest’s proprietary Direct Rubidium Extraction technology at the Mt Edon critical minerals project. The proprietary technology returned up to 97 per cent rubidium recovery in laboratory testing.
The grant funds will advance the technology readiness of the extraction technology from level four to level six as Everest moves towards establishing a commercial pilot plant and pioneering Australia’s first commercial rubidium industry.
“We thank the Australian government for its support and endorsement of this initiative which will be an Australian first for the rubidium industry,” Everest Executive Chairman and CEO Mark Caruso said.
“We are excited to advance these programs in collaboration with our research partner Edith Cowan University.”
Rubidium is a critical raw material used in various high-tech applications, including the development of new energy conversion technologies.
There is increasing global demand for rubidium but it is extremely difficult to source due to limited global production.
Everest’s Mt Edon project hosts one of the world’s highest-grade rubidium deposits and benefits from existing infrastructure access and strategic partnerships.
The project has an inferred mineral resource estimate of 3.6 million tonnes.
