Latest Phosphate News

RareX has moved Cummins Range through key permitting and heritage milestones, while stronger metallurgical results broaden the project’s critical-minerals potential. But the explorer’s annual loss widened to A$5.07 million, cash burn remained high and its going-concern assessment still depends on future funding and project development.

Aguia Resources has begun commercial Pampafós phosphate production in Brazil and improved Santa Barbara gold recoveries, but its annual report carries a material going-concern warning. A Brazilian court has also declared the Três Estradas environmental licensing process null, leaving the company’s flagship new operation exposed to an unresolved legal fight.

Gold Mountain expanded its Brazilian rare earths portfolio during FY2026, taking Irajuba beyond its original conceptual target and confirming ionic adsorption clay characteristics at Capivara. The progress came alongside an $8.137 million loss, a $4.798 million impairment charge and continued reliance on equity funding.

Firebird Metals is moving from manganese exploration towards downstream battery materials, with its Perth demonstration plant backed by a A$2 million ARENA grant. But the ASX-listed company remains loss-making, has A$3.61 million in cash and faces a material uncertainty over its ability to continue without further funding.

PhosCo has expanded its Gasaat phosphate project with a 166.6Mt resource and new processing results, but its auditor has flagged material uncertainty over the company’s ability to continue as a going concern. The ASX-listed explorer ended FY2026 with $5.86 million in cash, a $4.48 million consolidated loss and a $2.71 million working capital deficit.

Avenira has pushed its first Wonarah phosphate shipment target into the first half of 2027, while its auditor warned that funding remains critical to the company’s survival. The annual report records project progress, but also a $3.34 million loss, $759,415 in year-end cash and a proposed $49 million rights issue.

Basin Energy has more than doubled the mineralised footprint of its Newmans rare earth discovery to 6.7km, with follow-up drilling also producing the strongest magnet rare earth interval reported so far. The early-stage results set up a busy fourth quarter of leach testing and further drilling, although no resource or recovery result has yet been established.

Element 25 has moved its Butcherbird manganese expansion from feasibility into project delivery, targeting mechanical completion and commissioning in the first quarter of calendar 2027. The company also strengthened funding and commercial support, although construction, financing conditions and the absence of FY2026 revenue leave execution as the central test.

Power Minerals has repositioned around two Brazilian critical minerals projects, led by Morro do Ferro’s thick, high-grade rare earth intersections and a conceptual 10.7Mt Exploration Target. The shift comes with stronger funding and no borrowings, but the audited accounts warn that further financing remains essential.

Connected Minerals has made Angola’s Bailundo niobium and rare earths project its flagship after writing off A$3.40 million in Namibian and Western Australian exploration assets. The pivot is now backed by a completed A$4.5 million placement and a planned 6,000-metre drilling campaign, but Bailundo remains an exploration-stage project without a declared resource.

Basin Energy has begun preliminary leachability and XRD studies at its Newmans rare earth discovery, with follow-up drilling assays due imminently. The early-stage program adds a recoverability test to a project already showing a 3.3 km mineralised corridor in northwest Queensland.

Gibb River Diamonds reported a A$5.61 million profit after receiving a A$7 million pre-GST distribution from its Neta gold joint venture. The cash windfall leaves the explorer with A$6.74 million in the bank, but its next challenge is converting a one-off mining payment into a credible development pipeline.