RZ Resources is preparing a high-stakes leap onto the ASX, with investors eyeing a $1 billion valuation for the critical minerals prospect.
The move follows a surge in global demand supercharged by a US$8.5 billion pact between Australia and the US, positioning the Brisbane-based miner as a vital alternative to Chinese supply chains.
The company, one of seven developers handpicked by the White House for its strategic importance, plans to use IPO proceeds to revive its Pinkenba processing plant and develop the Copi Mineral Sands Project near Mildura.
Once operational, the site is expected to produce up to 500,000 tonnes of minerals annually—including rutile and zircon—shipped directly to Japan and the US for use in advanced weaponry and electronics.
The project's momentum is anchored by a US$460 million letter of interest from the Export-Import Bank of the US, a key player in Washington’s Project Vault initiative.
The US$12 billion stockpile strategy aims to shield allied supply chains from Beijing’s market dominance.
"The reality is now that people know they need to be in critical minerals," said Executive Chairman David Fraser, noting that previous backing from Japanese giant Marubeni has already validated the group's $445 million baseline.
As Canberra and Washington offer tax incentives and "cheap financing" to secure these assets, RZ Resources’ float represents a pivotal test for investor appetite in the West’s bid for resource independence.