Australian Rare Earths Limited has announced promising progress at its Koppamurra rare earths project in South Australia, reporting strong metallurgical testwork results that reinforce the viability of its innovative, progressive heap leach approach. The latest phase involved processing approximately three tonnes of ore using a bulk heap leach method, which delivered magnet rare earth element recoveries of over 60% – a performance comparable to earlier small-scale column tests but achieved in significantly shorter timeframes. These encouraging results validate the company’s approach to scaling up, while also hinting at potential cost efficiencies due to lower initial capital requirements and operating costs relative to traditional tank leach methods. The test campaign was designed to de-risk scale-up, optimise process variables such as reagent usage and water recycling, and inform key design inputs for the upcoming Pre-Feasibility Study, scheduled for completion later in 2025. Operating conditions were carefully monitored: a sulphuric acid rate of 39 kg/t during ore agglomeration, application of an irrigation solution at pH 2.2 at a rate of 5 L/m²/h, and extended leaching over 33 days to explore full extraction potential. In addition, the possibility of reprocessing lower grade “tail” solutions is currently under investigation, suggesting areas for further recovery optimisation. The testwork, conducted at Brisbane Met Labs along with collaborative work at Australia’s Nuclear Science and Technology Organisation (ANSTO), is supported by a A$5 million Australian Government grant under the International Partnerships in Critical Minerals Program. The announcement highlights not only the technical milestones to maximize magnet rare earth recoveries but also the strategic importance of the Koppamurra project. In the context of global supply chain diversifications amid a tariff war and China’s export restrictions on dysprosium and terbium, the project is positioned as a secure, strategic source of both light and heavy rare earth elements vital for the energy transition. Collaborations with industry experts such as Neo Performance Materials further strengthen Australian Rare Earths Limited’s prospects for developing marketable products from Mixed Rare Earth Carbonate (MREC) processes. A bullish perspective sees these robust recovery rates and the confirmed scalability of the heap leach process as strong indicators of future profitability, with lower operational costs and government backing enhancing the project’s investment appeal. The rapid leaching times compared to conventional methods underscore potential improvements in production efficiency, suggesting positive near-term catalysts as the company progresses toward its Pre-Feasibility Study. In contrast, a bearish view might point to the uncertainties inherent in further process optimisation, including the determination of ideal reagent and water treatment conditions, and the reliance on ongoing testwork to fully realise cost efficiencies. Additionally, while the strategic importance of rare earths remains clear, broader market fluctuations and geopolitical uncertainties could pose risks until the full-scale production model is proven in a commercial setting. Overall, the developments at Koppamurra signal a significant step forward for Australian Rare Earths Limited, affirming the technical robustness of its approach while laying the groundwork for future advancement in a strategically critical minerals market.