RareX Secures Native Title Agreement for Cummins Range Project

Native Title Breakthrough Paves Way for Cummins Range Development

RareX Limited (ASX: REE) has announced a significant advancement in its Cummins Range Rare Earth Project with an in-principle agreement reached with the Jaru Registered Native Title Body Corporate (RNTBC). This milestone represents one of the final major hurdles to fully unlock the development potential of what is positioned to be Australia's largest undeveloped rare earth project.

The May 8th meeting between the Jaru board and RareX successfully resolved remaining elements of the draft Mining and Heritage Protection Agreement, addressing both economic and non-economic benefits for the Jaru community. Both parties are now committed to finalising terms and engaging with the wider community to build broad support before formal signing.

"This agreement marks a significant step forward for the Jaru community, our Traditional Owners and stakeholders, as it lays the foundation for long-term collaboration with RareX at Cummins Range Project," said Rosemary Carey, Chairwoman of the RNTBC board.

This RareX Native Title Agreement is particularly significant as it:

• Enables finalisation of the mining lease application
• Unlocks the project's development pathway
• Establishes a framework for indigenous participation and benefit-sharing
• Represents a crucial de-risking step for the project

Multi-Critical Mineral Asset Emerging in the East Kimberley

The Cummins Range Project has evolved into a strategic multi-critical mineral deposit, recently confirming the presence of:

With environmental baselines completed and key infrastructure largely de-risked—including a secure export pathway via Wyndham Port (now with First Point of Entry status)—the project has rapidly advanced toward development readiness. The metallurgical work is also well progressed, positioning Cummins Range as a near-term producer.

"Reaching an in-principle agreement with the Jaru RNTBC represents a very significant milestone in RareX's journey to advance Cummins Range into a strategic, multi-critical mineral operation," emphasised James Durrant, Managing Director of RareX.

Understanding Critical Minerals: Why They Matter

What Are Critical Minerals?

Critical minerals are elements deemed essential for economic and national security that face supply chain vulnerabilities. The Australian Government maintains an official Critical Minerals List that identifies resources of strategic importance to advanced manufacturing, defence, and emerging technologies.

The minerals identified at Cummins Range—rare earths, gallium, scandium, and phosphate—all appear on this list due to their crucial roles in modern applications and the concentrated nature of their global supply.

Strategic Importance of Cummins Range Minerals

Rare Earth Elements (REEs)

Rare earth elements comprise 17 metallic elements with unique magnetic, luminescent, and electrochemical properties. Despite their name, most are relatively abundant in the Earth's crust, but rarely occur in concentrated, economically viable deposits.

Key applications include:

• Permanent magnets for electric vehicles and wind turbines
• Catalysts for petroleum refining
• Phosphors for displays and lighting
• Defence technologies
• Medical imaging equipment

Gallium

Gallium is particularly valuable for semiconductor manufacturing, forming the basis for gallium arsenide (GaAs) and gallium nitride (GaN) compounds used in:

• Radio frequency integrated circuits
• High-efficiency solar cells
• LED production
• 5G infrastructure components

The recent discovery of high-grade gallium at Cummins Range adds significant value to the project. This is especially relevant as China, which produces approximately 98% of global gallium, restricted exports in 2023, highlighting the supply vulnerabilities that Western economies face for this critical material.

Scandium

Though used in relatively small quantities, scandium is a powerful alloying element that significantly enhances aluminium's properties, including:

• Increased strength without added weight
• Improved corrosion resistance
• Enhanced weldability without loss of strength

These properties make scandium-aluminium alloys valuable for aerospace applications, sporting equipment, and next-generation solid oxide fuel cells.

Phosphate

While often overlooked, phosphate is critical for agricultural production and food security. High-grade phosphate resources suitable for fertiliser production represent a strategic asset for Australia's agricultural sector and export markets.

Regional Economic Impact and Development Timeline

The Cummins Range Project offers significant economic diversification opportunities for the East Kimberley region, which has historically been dominated by pastoral activities with limited mining operations.

Key regional advantages include:

• Proximity to the Tanami Road (currently being sealed)
• Potential to provide long-term employment opportunities
• Skills and business development for local communities
• Foundation for economic diversification in the region

RareX is strategically positioning the project to leverage skills and local businesses currently developing through the Tanami Road upgrade, creating a smooth transition into construction and mining activities.

The region at the edge of the Great Sandy Desert in northern Western Australia represents an area with substantial development potential, where sustained mining operations could significantly impact local economic conditions. The Cummins Range Project, with its potential to operate as a long-life strategic minerals asset, could serve as an economic anchor for communities near Halls Creek and surrounding areas.

Investment Case: Strategic Value Proposition

The Cummins Range Project represents a compelling investment opportunity based on several key factors:

The project's strategic importance extends beyond purely commercial considerations. As global economies seek to secure critical mineral supply chains outside of traditional sources, Australian projects like Cummins Range offer both diversification and security for manufacturing supply chains.

Project Advancement Status

The RareX Native Title Agreement follows leadership and organisational changes within the native title body, which had resulted in some delays to the process. However, the recent meeting demonstrates both parties' commitment to advancing the project in a manner that respects indigenous interests while enabling resource development.

With this Native Title agreement progressing, RareX has addressed most of the major hurdles typically associated with resource project development:

• Environmental: Baseline studies completed
• Infrastructure: Export pathway secured via Wyndham Port
• Metallurgy: Processing routes well-advanced
• Native Title: In-principle agreement reached
• Economics: Positive economic parameters established

The company can now focus on finalising the mining lease application, which represents one of the final regulatory steps before development decisions.

Why Investors Should Track RareX's Progress

RareX has positioned itself at the intersection of several powerful market trends:

1. Critical mineral security is becoming a national priority for Western nations
2. Multi-commodity exposure provides natural hedging against individual metal price fluctuations
3. Advanced-stage development with major hurdles being systematically addressed
4. Indigenous engagement demonstrates commitment to responsible development

With the Native Title agreement now progressing toward finalisation, RareX is methodically removing the remaining obstacles to project development. The company continues to de-risk the Cummins Range Project while advancing final negotiations and community engagement over the coming months.

For investors seeking exposure to critical minerals vital to technology manufacturing, energy transition, and national security priorities, RareX offers a compelling combination of near-term development potential and strategic resource positioning in a secure jurisdiction.

RareX's Broader Portfolio

While the Cummins Range Project represents RareX's flagship asset, the company maintains a balanced portfolio of critical minerals projects and investments:

• Khaleesi Project (East Yilgarn): District-scale, elevated-niobium, alkaline intrusive complex
• Mt Mansbridge Project: Xenotime heavy rare earths project near Browns Range
• Cummins Range Near-Mine Anomalies: Exploration targets around the main deposit
• Piper Project: Recently acquired "bulls-eye" target along trend from Nolans Bore and the Luni niobium deposit

Additionally, RareX maintains strategic investments in Kincora Copper (ASX:KCC), Cosmos Exploration (ASX:C1X), and Canada Rare Earth Corporation (LL.V), providing shareholders with diversified exposure to the broader critical minerals sector.

Outlook and Next Steps

With the in-principle agreement now in place, RareX will advance to the final stages of negotiation and community engagement. The company and Jaru RNTBC board are committed to building broad support within the community before the formal signing of the Mining and Heritage Protection Agreement.

This process represents a crucial step in securing the mining lease that underpins the Cummins Range Project's development pathway. As the company progresses through these final stages, investors can expect:

• Continued engagement with the Jaru community
• Finalisation of the Mining and Heritage Protection Agreement
• Advancement of the mining lease application
• Ongoing refinement of project economics and development plans

The Cummins Range Project, with its strategic mix of critical minerals and advanced development status, continues to position RareX as a significant player in Australia's critical minerals sector with substantial growth potential as global demand for these materials accelerates.

Want to Invest in Australia's Critical Minerals Future?

To learn more about RareX's significant progress at the Cummins Range Rare Earth Project and its strategic portfolio of critical minerals assets, visit their latest ASX announcement. With Native Title agreements advancing and a multi-critical mineral asset emerging in the East Kimberley, RareX offers a compelling investment opportunity in Australia's critical minerals sector. Discover the full details here and explore how you can be part of this strategic resource development.