Critica Ltd (ASX:CRI, OTC:VTMLF, FRA:VQI0) has launched a Scoping Study at its flagship Jupiter Rare Earth Project in Western Australia, marking a clear step from technical validation into structured project development at what it describes as Australia’s largest clay-hosted rare earth deposit.
The company has appointed leading engineering group Sedgman to lead the study, supported by Snowden Optiro on mining inputs and SRK Consulting on resource updates and optimisation.
Critica said the Scoping Study is designed to translate Jupiter’s scale, beneficiation performance and low-risk jurisdictional setting into a defined and capital-efficient development pathway, providing a foundation for later feasibility work.
Moving into economic definition
The study will integrate Critica’s beneficiation-first flowsheet with mining, processing and infrastructure concepts to establish a base-case development scenario. It will also deliver initial capital and operating cost estimates, along with broader project design inputs.
Critica is targeting completion of the Scoping Study in the first half of 2026, subject to work program progress and key technical inputs.
Chief executive Jacob Deysel said the appointment of Sedgman marked a key execution milestone for the company as it shifts “from technical validation to defining a development pathway”.
“Jupiter is differentiated not just by its scale, but by its simplicity — a clay-hosted system with demonstrated beneficiation performance that provides strong potential for a capital-efficient project configuration and development option,” he said.
“With Sedgman’s rare earth experience, combined with Snowden Optiro’s mining capability and SRK’s resource oversight, we have an experienced team to convert Jupiter’s technical strengths into a robust and defensible development pathway.”
Sedgman managing director Grant Fraser said Jupiter presented a compelling development opportunity due to its scale, favourable metallurgy and beneficiation-led flowsheet, which he said supports efficient downstream processing.
“Our focus will be on delivering a practical, low-risk and execution-ready Scoping Study that provides Critica with a clear pathway into subsequent feasibility stages,” Fraser said.
Parallel technical programs under way
Alongside the Scoping Study, Critica is continuing a suite of technical programs aimed at de-risking development and refining its downstream strategy.
Metallurgical test work is ongoing at specialist laboratories, including the Australian Nuclear Science and Technology Organisation (ANSTO), as Critica works to optimise its Mixed Rare Earth Product (MREP) pathway and evaluate downstream upgrade options such as mixed rare earth carbonate (MREC) and oxide (MREO) products.
In parallel, a pilot-scale beneficiation program with Vietnam’s Centre of Science and Technology of Minerals and Environment (GAVAQ) is under way to validate closed-circuit operation and further optimise the “beneficiate-first” flowsheet that underpins the Scoping Study.
The company is also planning a targeted drilling campaign to support resource optimisation, geotechnical inputs and mine planning assumptions required for the study.
Critica said results from these workstreams will be progressively incorporated into the Scoping Study framework, with regular market updates as milestones are achieved.
Indicative development timeline
Subject to study outcomes, approvals and market conditions, Critica has outlined an indicative development pathway for Jupiter, beginning with the current Scoping Study in H1 2026, followed by a Pre-Feasibility Study in the second half of 2026 and a Definitive Feasibility Study targeted for H2 2027.
A potential final investment decision is currently envisaged around 2029, with construction and commissioning also targeted for that year, although the company stressed that all timelines remain subject to study results, financing and board approval.
The Scoping Study follows recent technical progress at Jupiter, including the production of a second high-grade rare earth product that lifted magnet rare earth and yttrium grades, reinforcing the project’s potential role in downstream supply chains.
Read more: Critica’s second high-grade Jupiter rare earth product lifts magnet REE and yttrium grades
Critica said the current phase positions Jupiter to advance from a technically validated rare earth system into a project with defined economics, supporting its longer-term mine-to-magnet strategy aimed at supplying growing demand from AI, electric vehicles, renewables and defence markets.