US defence initiative helps Everest Metals unlock funding for Mt Edon rubidium project

Everest Metals’ membership in America’s Defense Industrial Base Consortium could secure non-dilutive funding to advance Mt Edon.

Everest Metals could unlock non-dilutive funding to advance its Mt Edon rubidium project’s planned pilot plant. Pic: Getty Images

• Everest Metals receives nod to join America’s Defense Industrial Base Consortium initiative

• DIBC membership could help secure non-dilutive funding and strategic partnerships to advance its Mt Edon rubidium project

• This will in turn support the company’s plans to build a pilot processing plant for the project in WA’s Mid West region

Special Report: The strategic importance of Everest Metals’ Mt Edon rubidium project in WA’s Mid West region has allowed it to secure entry into a US Department of Defense initiative that could accelerate project development.

The approval of the company’s application to join the Defense Industrial Base Consortium (DIBC) – an initiative that supports research, development, and prototyping to advance technologies critical to national defence – enables collaboration with the US DoD.

This key milestone could pave the way for Everest Metals (ASX:EMC) to unlock non-dilutive funding and strategic partnerships to advance Mt Edon.

Grant funding will enable the company to scale-up Mt Edon to a commercial pilot plant during 2026 to capitalise on the strategic importance of rubidium.

Rubidium is classified as a critical mineral in the US due to its essential uses in defence such as night vision imaging and radiation detector, aerospace, propulsion, medical and other high-tech applications.

This includes recent research highlighting its potential for chemical storage in hydrogen batteries as well as its suitability to replace caesium, resources of which are steadily dwindling.

Despite this, global production of rubidium is significantly lower than that of other alkali metals, resulting in a production cost of ~US$1170/kg, significantly higher than the cost of producing lithium, sodium or potassium.

“We are thrilled to join the DIBC, a testament to the strategic importance of our Mt Edon rubidium project,” executive chairman Mark Caruso said.

“This approval opens doors to collaborate with the US Department of Defence, access non-dilutive funding, and advance our goal of establishing a commercial rubidium pilot plant.

“With rubidium’s critical applications in defence and high-tech industries and forecast growing demand, Everest is well-positioned to address global supply constraints and meet growing demand for this extremely scarce mineral.”

Mt Edon project

The Mt Edon project is 5km southwest of Paynes Find, a former gold rush settlement in WA’s Mid West region which is considered highly prospective for lithium, caesium, tantalum and rubidium mineralisation.

It is contained within granted mining lease M59/714, which is in the southern portion of the Paynes Find Greenstone Belt that is known to host swarms of pegmatites.

The project already hosts an inferred resource of 3.6Mt grading 0.22% rubidium, or more than 7900t of contained rubidium, with a higher grade zone of 1.3Mt at 0.33% rubidium.

EMC recently delivered an engineering scoping study for rubidium extraction that leverages its patent pending direct rubidium extraction tech, which is capable of achieving up to 97% rubidium recovery.

The process involves mining and beneficiating to concentrate rubidium-bearing minerals ore, followed by roasting, leaching and crystallisation to produce rubidium chloride.

It had also reached an agreement in May 2025 with Australia’s national science agency CSIRO to conduct advanced geochemical and mineralogical studies at Mt Edon.

This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as US defence initiative helps Everest Metals unlock funding for Mt Edon rubidium project