RareX (ASX:REE) is a Perth-based rare earths company committed to becoming a near-term producer of neodymium and praseodymium (NdPr).
RareX recently reported a $1.92 million refundable tax offset for eligible research and development (R&D) activities conducted at their Cummins Range Project during the 2021-22 financial year.
The R&D activities were primarily focused on testing the possibility of extracting rare earth elements from the Cummins Range deposit.
RareX says the funds are expected to be available soon, and thanked the experts who contributed to the project.