Latest Downstreaming News

Syrah Resources has closed its retail entitlement offer, securing A$61 million and pushing total equity raised to A$104 million. AustralianSuper’s stake will approach half the company as Syrah prepares to fund key projects and advance strategic funding talks.

Critica Limited has produced its first commercial-quality Mixed Rare Earth Carbonate at 58% TREO, confirming a refinery-aligned product pathway, while launching a major resource upgrade drilling program at its Jupiter Rare Earths Project in Western Australia.

Ampol reported a robust first quarter in 2026, with refinery margins soaring to US$25.45 per barrel and production up 10%, while securing fuel supplies through May despite geopolitical tensions.

Fortuna Metals has outlined a substantial exploration target of 180-240 million tonnes at 0.86-1.0% rutile grade at its Mkanda project in Malawi, advancing drilling and metallurgical testing to position itself in a tightening global titanium feedstock market.

Lithium Universe Limited’s new silver extraction process for recycling photovoltaic panels slashes environmental impact while boosting economic returns, according to a Macquarie University Life Cycle Assessment.

Battery Age Minerals has joined the U.S. Defense Industrial Base Consortium, positioning itself at the forefront of securing critical germanium supply amid escalating export restrictions from China. The company’s dual-continental assets in Austria and Utah and its technology initiatives aim to address strategic vulnerabilities in defence and semiconductor supply chains.

The L1 Global Long Short Fund (ASX:GLS) faced a challenging March quarter amid the Iran War-driven oil supply shock but maintains strong performance since inception through active portfolio adjustments and thematic focus on copper, gold, and infrastructure.

Vintage Energy and Vault Energy have agreed to negotiate a gas sales deal for Cullen-1 gas, aiming to fuel modular data centres onsite if flow tests confirm commercial viability. Vintage plans to fund testing via farm-out once permit tenure is secured.

Pure Resources has deepened its partnership with Rice University to develop carbon nanotube fibre thermal management technology aimed at AI and defence markets, leveraging its Garnet Hills graphite for a vertically integrated IP pipeline.

Lynas Rare Earths reported a record A$265 million quarterly revenue in Q3 FY26, driven by higher NdPr prices and production milestones including early Samarium oxide output. The company secured a 10-year Malaysian operating licence and extended a key supply deal with Japanese partner JARE through 2038.

Anson Resources has lodged an updated Small Mining Operations notice for its 10,000tpa Green River lithium carbonate plant in Utah, marking the last significant regulatory hurdle before construction. The revised plant layout, backed by a near-complete Pre-feasibility Study, leverages existing infrastructure and private land ownership to enhance project bankability.

Hiremii Limited has delivered its most profitable quarter yet, reporting record revenue and gross profit alongside its first positive adjusted EBITDA. The company also secured its first recurring SaaS contracts, marking a milestone in its shift towards a technology-driven workforce intelligence model.