St George’s Araxá Resource Jumps 75% to 70.9 Mt, Rivaling Mountain Pass
St George Mining increased Araxá resource by 75% to 70.91 million tonnes at 4.06% TREO and 0.62% Nb₂O₅, now ranking alongside MP Materials’ Mountain Pass deposit. A 218% increase in Measured and Indicated tonnes supports economic studies while new downstream partnerships and land acquisition advance its development plans.
1. Araxá Resource Upgrade
St George expanded Araxá MRE by 75% to 70.91 million tonnes grading 4.06% TREO and 0.62% Nb₂O₅, marking it among the largest carbonatite-hosted deposits globally outside China.
2. Confidence and Economic Potential
Updated estimates feature a 218% rise in Measured and Indicated tonnes, strengthening the basis for bankable feasibility studies and supporting potential low-cost open-pit mining given shallow mineralization.
3. Development Partnerships and Planning
The company advanced downstream collaboration with REalloys, Boston Metal, Tecnicas Reunidas and Nanum Nanotecnologia, acquired 166 hectares near Araxá for processing infrastructure and secured tax exemptions up to 18% from Minas Gerais.
4. Competitive Position
With the resource now comparable to MP Materials’ Mountain Pass, St George emerges as a stronger competitor in global rare earths, potentially influencing MP’s market positioning and pricing leverage.