IMC Rare Earths Ltd has delivered laboratory-scale metallurgical testwork results from its Itarantim ionic adsorption clay project in Brazil, achieving terbium recoveries of up to 95.2% alongside the successful production of a mixed rare earth carbonate.

The testwork, conducted via the Instituto Federal do Rio Grande do Norte and its CT Mineral laboratory, returned an average terbium recovery of 81.1% in the best-performing composite, COMP C2, with individual recoveries ranging from 56.6% to 95.2%. Magnet rare earth elements also yielded leach recoveries across the tested composites, including 66.1% for neodymium, 46.1% for dysprosium, and 36.5% for praseodymium.

Building on these leach results, IMC successfully produced an intermediate mixed rare earth carbonate using an optimized hydrometallurgical route. The Itarantim project hosts an inferred mineral resource of approximately 1.1 billion tonnes containing neodymium, praseodymium, dysprosium, and terbium. Within that inventory sits a 105.8 million tonne inferred domain averaging 8 ppm terbium.

Following these findings, IMC has engaged ANSTO Minerals to undertake further quantitative metallurgical testwork on material from the Brazilian project. This subsequent phase of testing is designed to quantify recovery performance and characterize the mixed rare earth carbonate further as the company evaluates potential development pathways.

The technical program follows IMC closing its initial public offering and subsequent underwriters' option exercise on August 6, 2026, generating total gross proceeds of $23 million to fund ongoing exploration, development, licensing, and permitting work.

“We are very encouraged by these results, which mark an important step forward in our project,” said Frank Scolaro, Chief Executive Officer and Chair of IMC Rare Earths. “There has been an awakening around the world that we need greater supplies of rare earths from diverse areas. Our mission is to be a world-class supplier and our immediate focus is on further confirming the richness of our deposits.”

Read the full announcement: IMC Rare Earths Reports High-Grade Terbium Recoveries of Up to 95.2% at Itarantim Project