Everest Metals (ASX:EMC), in partnership with Edith Cowan University, has been awarded $490,500 through the highly competitive Australia Economic Accelerator Ignite Round 2 program to fast-track the development of Australia's first commercial rubidium industry at its Mt Edon Critical Minerals Project in Western Australia.
Selected from 838 applications—only 14 in the resources sector—this 12-month grant will advance EMC’s proprietary direct rubidium extraction technology from laboratory-scale demonstration to near-operational prototype testing.
The project builds on prior achievements, including laboratory rubidium recoveries of up to 97%, a provisional patent, MRIWA funding, collaboration with CSIRO, and a world-class inferred mineral resource of 3.6 million tonnes at 0.22% Rb₂O.
Everest Metals Executive Chairman Mark Caruso said the funding represents a major step toward establishing a sovereign Australian rubidium supply and reducing reliance on dominant global producers, including China.
ECU’s Dr Amir Razmjou added that the grant further strengthens the university-industry partnership and positions the team at the forefront of the emerging rubidium sector.
The Mt Edon Project, located in the Paynes Find Greenstone Belt, hosts high-grade LCT pegmatite mineralisation with strong expansion potential, supporting EMC's ambition to progress toward a commercial pilot plant in 2026.
At the time of reporting, Everest Metals’ share price was $0.14.