Eminence Minerals reports strong near-surface rare earth results in Brazil and advances a judicial review over heritage site decisions in Western Australia, while appointing new leadership to drive growth.
- Campo Grande drilling confirms shallow, high-grade rare earth system
- Judicial review underway over Aboriginal heritage site decisions at Hamersley
- New CEO Anthony Hills appointed to lead next development phase
- Strategic options being evaluated for Brazilian projects amid inbound interest
- Cash balance at $514k with ongoing exploration and corporate activities
Robust Rare Earths Potential in Brazil
Eminence Minerals Limited (ASX, EMA) has delivered encouraging results from its Campo Grande Rare Earth Project in Bahia, Brazil. Recent drilling and reconnaissance sampling have confirmed a near-surface rare earth element (REE) system with grades reaching up to 17,346 ppm total rare earth oxides (TREO), including a significant magnet rare earth oxide (MREO) component. Notably, an intercept of 14 metres at 4,022 ppm TREO from just 1 metre depth highlights the potential for a laterally continuous, clay-hosted ionic rare earth deposit.
The company completed 33 drill holes totaling 970 metres, delineating a coherent mineralised footprint that supports further targeted drilling and metallurgical testwork. Eminence has engaged GE21 Consultoria Mineral, a respected Brazilian consultancy, to provide a strategic technical assessment aimed at advancing the project towards a JORC-compliant resource estimate.
Heritage Dispute Delays Iron Ore Progress in Western Australia
Meanwhile, Eminence’s Hamersley Iron Ore Project in the Pilbara remains embroiled in legal proceedings following the Aboriginal Cultural Heritage Committee’s recognition of two newly identified ethnographic sites on the mining lease. The company is pursuing a judicial review in the Supreme Court of Western Australia, challenging the validity and clarity of the Committee’s decision, which has stalled planned infill drilling essential for resource definition.
The sites, linked to ancestral water serpent lore and cultural dreaming stories, were not identified in prior heritage surveys, including those involving the Wintawari Guruma Aboriginal Corporation (WGAC). Eminence argues procedural unfairness and unreasonableness in the Committee’s decision, with a court judgment expected in the first quarter of 2026. The outcome will be pivotal for the project’s future development timeline.
Corporate Developments and Strategic Outlook
On the corporate front, Eminence Minerals has strengthened its leadership team with the appointment of Mr Ali Raza as a Non-Executive Director and announced Mr Anthony Hills as the new Chief Executive Officer, effective February 2026. Mr Hills brings extensive operational and project execution experience, signaling the company’s intent to enhance delivery capabilities as it advances its exploration portfolio.
The company is actively reviewing strategic options for its Brazilian assets, including potential joint ventures, farm-ins, or divestments, following inbound interest from third parties. At the same time, the Mata da Corda Titanium Project remains on hold pending strategic review, with no new fieldwork conducted this quarter.
Financial Position and Outlook
Eminence closed the quarter with a cash balance of $514,000 and reported modest exploration expenditure of $11,000. The company acknowledges a limited cash runway of less than one quarter at current spending levels but remains confident in its ability to raise additional funds if necessary. Ongoing business development efforts aim to build a diversified portfolio aligned with the company’s strategic objectives.
Investors will be watching closely for the judicial review outcome and any announcements regarding strategic partnerships or project sales, which could materially impact the company’s valuation and development trajectory.
Bottom Line?
Eminence Minerals stands at a crossroads with promising rare earth assets and a critical court decision looming, shaping its path forward.
Questions in the middle?
- What will be the Supreme Court’s ruling on the Aboriginal heritage site dispute at Hamersley?
- How might strategic partnerships or divestments reshape Eminence’s Brazilian project portfolio?
- Will the company secure sufficient funding to sustain exploration and development activities beyond the near term?