A PLANNED mineral sands mine project near Wentworth has received backing from a large Asian metals manufacturer.
Last week saw a partnership begin between Tokyo’s JX Advanced Metals Corporation and NSW’s RZ Resources, best known for its Copi Project about 70 kilometres north west of Wentworth.
The Japanese company signed an agreement for a $20 million in backing in RZ Resources as well as an additional contribution option of $5 million with a further $5 million in convertible funding for the Copi Minerals Sands Project.
“This is more than a financial investment, it is a deep strategic partnership that strengthens our ability to deliver the Copi Project as a globally significant, geopolitically aligned supply of critical minerals,” said RZ Resources founder and executive chairman David Fraser.
“The JX commitment mirrors our ambition to help build secure, long-term supply chains in critical minerals.”
Mr Fraser described the new collaboration as a “testament to their shared vision for the Copi Project and Australia’s resilience in critical minerals.”
The Copi Minerals Sand Project is located along is currently pending New South Wales State Government planning approvals.
If approved, the project aims to produce titanium feedstocks like rutile, leucoxene, ilmenite, premium zircon products such as ceramic-grade and concentrates, as well as rare earth element concentrate ores.
The minerals could then be used in a range of industries from manufacturing, energy, and tech sectors.
An RZ Resources spokesperson said that believe the partnership, in combination with the reactivation of a plant in Brisbane would provide Australia with “sovereign supply chains for its critical minerals.”
“The investment is the first part of an anticipated multi-stage commitment, joint venture framework and a long-term partnership between the two organisations,” the spokesperson said.
RZ Resources remain open to community input and can be contacted at their Darling Street office.
