The government aims to issue first licenses in 2025, but companies will require separate approvals to start production.

With VerAI’s AI-powered targeting technology, the company intends to set new industry standards for environmentally conscious mineral exploration activities.

In January, AustralianSuper said it would double its lithium exposure in the next five years.

The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026.

The outlook for rare earths is concerning, with the region unlikely to meet 2030 extraction or processing targets across the entirety of the value chain, Adamas Intelligence warns.

Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits.

The company reported adjusted loss of 4 cents per share, compared with analysts' expectations of a loss of 2 cents per share.