Eclipse Metals Ltd (ASX:EPM) understands the challenges of developing viable critical minerals assets at scale, especially in the face of the immense need for these commodities as the planet chases the technologies of the future.
In a busy market, Eclipse stands out as a forward-thinking, ESG-conscious company, poised for growth in the critical minerals domain.
Along with its projects in Australia, it boasts a play in Greenland – a long-overlooked tier-one jurisdiction, at least for rare earths and critical minerals.
Add to this a robust technical team and a commitment to sustainable development and strong stakeholder relationships, and you have a company ready to tackle mining in the 21st century.
Bridging the gap
A dual-listed entity that trades on the ASX (EPM) and the FSE (9EU), Eclipse Metals has dedicated more than a decade to bridging the gap between the global demand for critical minerals and the complexities of establishing viable mining projects.
The company is training its sights on unlocking the reserves of rare earth mineralisation in southwest Greenland at its flagship Ivigtût Project, an area that is opening up as knowledge of its untapped rare earth element (REE) resource improves.
The 100%-owned project is testament to the company’s strategic approach in harnessing the region's vast REE potential.
It’s an endeavour bolstered by Greenland's stable mining environment, favourable regulatory framework and a history of cryolite mining spanning 120 years.
The company walks the talk on sustainability and the social contract, and is focused on meeting its own exacting environmental, social and governance (ESG) standards in pursuit of these critical minerals.
In Greenland, this means working to preserve the country’s domestic mining heritage by collaborating with the Sermersooq municipality and local communities.
Eclipse is also undergoing rigorous environmental and social impact assessments in preparation for its mining licence and to progress towards production readiness.
Eclipse Metals doesn’t stop at REE – at Ivigtût the company is also pursuing quartz, which is essential for the production of photovoltaic (PV) products, high-end electronics and semiconductors.
"A smorgasbord of assets"
Beyond this, its diversified asset base covers what executive chair Carl Popal calls “a smorgasbord of assets”.
The technical team, guided by experienced leadership including Popal and directors Rodney Dale and Ibrar Idrees, focuses on thorough exploration and the pursuit of strategic acquisitions to enhance the company’s asset portfolio.
The portfolio has grown from two uranium projects in the Northern Territory, Australia, to include a range of other minerals such as bauxite, manganese, cryolite and fluorite, among others.
The company is firm in its belief that these ‘green materials’ are necessary for the clean energy technologies we need to transition to net zero.
Along with its vision for sustainable mining and an eye on the minerals that will count for a lot in the coming decades, the company’s proactive engagement with stakeholders and governments in its operational regions has fostered strong relationships, crucial for the advancement of its projects.
Eclipse is aligned with the European Union’s initiative to secure a stable supply of critical raw materials.
In 2020, the EU Raw Material Commission assessed the criticality of 66 candidate materials, including 63 individual materials. It also looked at three material groups – heavy rare earth elements, light rare earth elements and platinum group metals – 83 materials in total.
These commodities were placed on a list, similar to those compiled by other countries including Australia, that faced a ‘material supply concern’, with a risk of EU supply chain disruptions.
Eclipse is working to recover these materials, as a member of the European Raw Materials Alliance (ERMA), which supports its strategy to engage with European agencies for the development of its rare earths and polymetallic exploration efforts in Greenland.
Eclipse Metals is positioned with a market capitalisation of around A$13.2 million, supported by a cash reserve of A$1.3 million as of the end of December 2023.