Indiana Resources Limited

Indiana Resources Limited (ASX: IDA) is an Australian exploration company headquartered in Perth, Western Australia, focused on a portfolio of rare earths, gold and base-metals tenements in the Central Gawler Craton of South Australia. The company explores for critical minerals including rare earth elements such as neodymium and praseodymium across its project areas in an established South Australian mineral province.

Indiana Resources gained international prominence as the majority shareholder of the claimants in a landmark ICSID arbitration against the United Republic of Tanzania over the expropriated Ntaka Hill nickel project, which concluded in 2024 with a US$90 million settlement following an original award of US$109 million. The proceeds strengthened the company’s balance sheet, enabling capital returns to shareholders and funding for exploration of its Australian rare earths and base-metals portfolio as it seeks new discoveries.