Power moves to establish an early niobium foothold in West Arunta
The share price of ASX-listed Power Minerals surged 30% early on Monday, following its announcement of a strategic move into the West Arunta region of Western Australia with the addition of the Waterlander project.
Situated immediately adjacent to WA1 Resources’ Luni discovery, Waterlander is prospective for niobium and rare earth elements (REE).
“The addition of the Waterlander project is an exciting opportunity for Power to secure an early entry into an emerging world-class niobium province and complements the excellent REE results achieved from drilling at our Eyre Peninsula project,” said MD Mena Habib.
Niobium is a high-value critical mineral with a growing demand profile. It is widely used in steel as a strengthening agent and also has emerging applications in lithium-ion batteries.
The Waterlander project area licence is currently under application. Once granted, Power proposes to start targeted field work designed to define drill targets.
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