West Cobar Metals provides update on Salazar rare earth element project

West Cobar Metals Limited (ASX: $WC1) has released an update on its Salazar rare earth element (REE) and co-products project in Western Australia. The company has been focused on validating the conceptual flowsheet as released to the ASX on 22nd February 2024, with a particular focus on scandium, a highly strategic metal present in high-grade zones within the Salazar project.

Executive commentary on Salazar project and scandium mineralisation

The scandium contained within our Salazar project is very exciting because it is high grade, pervasive and historical testwork shows excellent leaching recoveries are achievable at atmospheric pressure. Scandium is a highly sought after critical mineral with scandium oxide prices at nearly 1 million US dollars per tonne. Recent interest in the metal by Rio Tinto reinforces our view that the scandium enhances the opportunity to commercialise our unique clay hosted project.

Summary of Salazar project update and outlook

West Cobar Metals' update on the Salazar project highlights the presence of high-grade scandium mineralisation and promising testwork results, indicating the potential for cost-effective recovery. The company's focus on scandium, a highly strategic metal used in various industries, aligns with the growing global demand and limited supply. With scandium oxide prices reaching nearly 1 million US dollars per tonne and forecasts indicating strong growth in demand, West Cobar Metals is well positioned to capitalize on the commercial opportunities presented by the unique characteristics of the Salazar project.