St George Mining Limited (ASX:SGQ) Completes Acquisition of Araxá Project
Acquisition Completion
St George Mining Limited has successfully completed the acquisition of the 100% owned Araxá Project in Minas Gerais, Brazil, enhancing its position in the niobium and rare earths market.
Project Overview
The Araxá Project is a de-risked, world-class niobium-REE opportunity located adjacent to CBMM’s leading niobium mining operations. The maiden JORC compliant resource includes 41.2 Mt of Nb₂O₅ and 40.6 Mt of TREO, with high-grade, near-surface deposits.
Government Support
St George has secured a Memorandum of Understanding with the State of Minas Gerais to expedite project approvals, aiming to complete permitting by Q4 2026. The company has assembled an experienced in-country team to drive exploration and development.
Financial Performance
On 21 February 2025, St George completed a $20 million capital raise, issuing new shares to support the project’s development and operational activities.
Future Outlook
St George plans to advance the Araxá Project through exploration work and development studies, with potential production of niobium and REE products starting in H1 2025. The company is also participating as a sponsor in the 2025 Tribeca Future Facing Commodities Conference in Singapore to promote its initiatives.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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