IMC Rare Earths Recovers 71% of Dysprosium and Terbium at Itarantim-Now Comes the Hard Part

Highlights

• IMC reports 71.4% terbium and 70.5% dysprosium recovery in laboratory tests at the Itarantim ionic-adsorption-clay project in Brazil.
• University of Brighton testing supports investigating in-situ recovery, which could eliminate large-scale excavation and tailings infrastructure if proven at field scale.
• Itarantim holds 1.1 billion tonnes of Inferred Resource at 1,233 ppm TREO, but the entire resource remains Inferred with no demonstrated economic viability.
• Key risks include unproven field-scale ISR hydrogeology, pre-revenue status, no employees, and significant related-party conflicts including a founder-controlled offtake covering up to 75% of production plus a 3.5% perpetual royalty.
• Next steps are hydrogeological studies and field injection and recovery trials that could begin separating a large resource from a commercially viable project.