St George Mining Ltd. has reported a massive 155 per cent increase in the Measured and Indicated Mineral Resources at its Araxá project in Minas Gerais, Brazil, cementing the asset’s position as a globally significant rare earths and niobium deposit.
The updated mineral resource estimate (MRE) has expanded the total resource by 57 per cent to 111.2 million tonnes at 3.57 per cent total rare earth oxides (TREO) and 0.57 per cent niobium pentoxide.
The project’s Measured and Indicated categories now stand at 75.2 million tonnes, giving the deposit a larger volume of contained neodymium-praseodymium (NdPr) than both Lynas’ Mt Weld and MP Materials’ Mountain Pass, the world’s two largest producing rare earths mines outside China.
The project also holds the world’s largest undeveloped Measured niobium resource, placing it in a premier position within Brazil’s renowned mining heartland.
St George Executive Chairman John Prineas said the resource upgrade highlights Araxá’s exceptional scale and quality.
“Our Araxá MRE now compares even more favourably in scale and grade to the two largest producing rare earths mines outside of China,” Prineas said.
“In regard to niobium, the Araxá MRE is the largest undeveloped niobium Measured Resource in the world. Our location in the world’s premier niobium producing district further supports our Araxá Project as potentially the next globally significant niobium producer.”
The entire resource is located within 120 metres of the surface in weathered profile, making it highly amenable to conventional open-pit mining. Global engineering firm Worley is currently utilising the updated resource to progress economic studies and mine planning.
Further upside remains on the horizon. The updated MRE excludes the adjacent East Araxá discovery, where five diamond rigs are drilling round-the-clock ahead of a planned maiden resource estimate in the fourth quarter of 2026.
“The open-pit mine potential of the large resource at Araxá together with enviable project logistics – a location in a region with a long history of commercial mining, access to existing infrastructure, availability of an experienced and skilled workforce and a well-understood regulatory framework – underpin our potential to build a globally significant business in niobium and rare earths,” Prineas said.
