Magnum Mining and Mount Ridley Mines report critical mineral developments

Magnum Mining and Exploration Limited has reported operational progress on its rare earth element (REE) projects in Brazil. At the Piracanjuba North prospect within the Azimuth REE Project, the company has completed approximately 6,900 metres of a 10,000-metre drilling programme. A maiden Mineral Resource Estimate for Piracanjuba North is expected in November 2026. Additionally, the company has received all assay results from its 1,145-metre drilling programme at the Palmares REE Project.

Separately, Mount Ridley Mines Limited has filed a provisional patent application for its proprietary Selectro™ Process, a leach technology designed for critical mineral recovery. Testwork for the process showed recoveries of up to 83% for heavy rare earth elements, 80% for scandium, 72.5% for light rare earth elements, and 56% for gallium. The technology utilizes a closed-loop system with lower-cost reagents, significantly outperforming hydrochloric acid baselines in gallium recovery.