St George, REalloys extend Araxá rare earth alliance

St George Mining has extended its memorandum of understanding with US magnet producer REalloys from 120 days to a one‑year term to advance commercialisation of the Araxá rare earths project in Brazil.

The parties will focus on metallurgical testwork and development of a processing flowsheet to support a potential definitive offtake agreement. St George says any long‑term deal with REalloys could cover up to 40% of Araxá’s rare earth output, creating a pathway into the rapidly developing US critical minerals and downstream magnet market.

REalloys is building a vertically integrated mine‑to‑magnet platform aimed at North American supply‑chain independence and supplies high‑performance magnet materials to US government agencies and defence‑relevant sectors. St George is engaging with US government representatives as it seeks potential commercial arrangements to support project development.

Araxá is a carbonatite‑hosted hard‑rock deposit comparable in style to Mt Weld and Mountain Pass, with reported resources including 41.2Mt at 0.68% Nb2O5 and 40.6Mt at 4.13% total rare earth oxides. A resource upgrade is expected later this quarter, while ongoing metallurgical work will inform downstream processing and potential offtake terms.