St George Mining

What St George Mining does

St George Mining Limited (ASX: SGQ) is an Australian critical minerals exploration and development company headquartered in West Perth, Western Australia, that operates a portfolio of mining projects with a strategic focus on rare earth elements and niobium. The company's flagship asset is the Araxá Project in Minas Gerais, Brazil — a high-grade niobium and rare earth carbonatite deposit located approximately 6km from Araxá city within the Barreiro Carbonatite complex and adjacent to CBMM's operations, which produce roughly 80% of global niobium supply. The Araxá Project hosts a JORC-compliant resource of 95.47Mt of Nb2O5 inventory and 1.7Mt of TREO, with high-grade surface mineralisation enabling low-cost open-pit mining. Processing is being developed through strategic partnerships with Técnicas Reunidas (proprietary RARETECH rare-earth refining, with potential integration into the EU-funded PERMANET project across 12 countries) and Boston Metal (Molten Oxide Electrolysis for niobium production, a US$500M+ backed technology from BHP, BMW, Microsoft, and ArcelorMittal).

The company also retains a portfolio of Western Australian exploration projects including the Mt Alexander Project (nickel-copper-cobalt-PGE with lithium potential, joint-ventured with IGO Limited), the Paterson Project (copper-gold), Ajana, Broadview, Destiny, and the Lithium Star portfolio covering 653 sq km across seven lithium projects. St George is pre-revenue and funds operations through equity capital raises, having raised A$132.5M across placements in October 2025 and June 2026, with Hancock Prospecting (Gina Rinehart's investment vehicle) as the largest shareholder at ~10.5%. The company is targeting long-term offtake agreements with Western defense contractors, EV/battery manufacturers, and clean energy companies, supported by government financing programs including US EXIM Bank, US DoD rare earth grants (US$439M), and the US-Australia Critical Minerals Framework (US$1B). The company was added to the S&P/ASX All Ordinaries Index in March 2026 following rapid market cap appreciation from approximately $25M to $500M within a year of the Araxá acquisition.

Name

St George Mining

Legal name

St George Mining Limited

Website

https://stgm.com.au

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

St George Mining Limited is a pre-revenue Australian critical minerals developer (ASX: SGQ) advancing the high-grade Araxá niobium and rare earth project in Brazil's Minas Gerais, adjacent to CBMM's world-leading niobium mine. The company targets Western defense, EV battery, and permanent magnet customers through long-term offtake agreements, supported by strategic processing partnerships with Boston Metal and Técnicas Reunidas.

Ownership category

akta.pro rank

Product category

Critical Minerals Mining and Exploration

NAICS

Other Metal Ore Mining (212290), Mining (except Oil and Gas) (212), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industry

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)

Keywords

• Critical minerals exploration
• Rare earth elements
• Niobium mining
• Western-aligned supply
• Carbonatite-hosted deposits

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Rare Earth Products (NdPr Magnet Metals): St George Mining plans to produce and sell neodymium-praseodymium (NdPr) magnet metals — critical inputs for EV motors, wind turbines, and defense systems — to offtake customers including Western government-backed buyers and permanent magnet manufacturers. Revenue will be generated through long-term fixed-price or formula-priced offtake contracts, with pricing linked to market references.
2. Niobium Products: Sale of niobium oxide or ferro-niobium products from the Araxá project. Niobium is used in high-strength steel alloys for infrastructure, automotive, and aerospace. CBMM (adjacent operator) produces ~80% of global niobium supply, positioning Araxá as a strategic non-Chinese alternative source. Revenue from niobium will follow spot or contract pricing based on niobium oxide benchmarks.
3. Government Development Financing: St George Mining receives government financial support through programs including Brazilian ApexBrasil initiatives, US-Australia Critical Minerals Framework commitments (US$1 billion facility), and potential EXIM Bank financing. These are non-dilutive funding mechanisms supporting project development costs rather than commercial revenue streams.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

St George Mining is a pre-revenue critical minerals exploration and development company advancing the Araxá Project in Minas Gerais, Brazil — a high-grade carbonatite-hosted deposit containing approximately 1.7 million tonnes of TREO and ~280,000 tonnes of niobium oxide — alongside a portfolio of critical minerals projects in Western Australia. The company plans to produce and sell neodymium-praseodymium (NdPr) magnet metals, mixed rare earth carbonates/oxides, and niobium products to Western-aligned defense, EV, clean-energy and government offtake buyers once development is complete.

Product overview

St George Mining is an Australian critical minerals explorer and developer operating a portfolio of mining projects. The company's flagship is the Araxá Project in Brazil's Minas Gerais - one of the largest high-grade niobium and rare earth carbonatite deposits outside China, adjacent to CBMM's world-class niobium operations. In Western Australia, the company holds the Mt Alexander Project (nickel-copper-PGE with lithium potential), Paterson Project (copper-gold), Ajana Project (copper-lead-zinc), Broadview Project, Destiny Project, and Lithium Star portfolio. The projects are focused on critical minerals essential for clean energy, EVs, and defense applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Araxá Project Flagship high-grade carbonatite-hosted deposit in Minas Gerais, Brazil, with planned production of neodymium-praseodymium (NdPr) magnet metals, mixed rare earth carbonates/oxides, and niobium oxide/ferro-niobium for Western defense, EV, clean energy, and government offtake customers. Sits adjacent to CBMM's world-leading niobium operations.
• Mt Alexander Project Nickel-copper-cobalt-PGE exploration project in Western Australia, located 120km south-southwest of the Agnew-Wiluna nickel belt, including the Cathedrals Belt with 5.5km strike of mineralisation and additional LCT pegmatite lithium targets.
• Paterson Project Copper and gold exploration project covering 35km strike of prospective stratigraphy in the Paterson Province, Western Australia, with geological similarities to the stratigraphy hosting Rio Tinto's Winu and Newcrest's Havieron deposits.
• Ajana Project Copper and lead-zinc exploration project in the Northampton mineral field near the Yilgarn Craton margin in Western Australia, covering a 20km-long magnetic anomaly interpreted as a mafic intrusion prospective for Ni-Cu-PGEs.
• Broadview Project Western Australian critical minerals exploration project within St George's diversified portfolio.
• Destiny Project (Woolgangie) Exploration project along the Ida Fault in Western Australia, prospective for lithium, gold, and nickel-copper sulphides.
• Lithium Star – WA Projects Seven lithium exploration projects covering 653 sq km in Western Australia, including the Split Rock, Buningonia and Myuna Rocks projects in established lithium regions near producing mines.

Quantifiable outcome

• Western governments have established floor prices and financial support to foster ex-China rare earths production
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Técnicas ReunidascoreTechnology or Integration · 1 April 2026Spanish engineering firm Técnicas Reunidas signed an MoU in April 2026 to conduct rare earth processing trials at the Araxá deposit using its proprietary RARETECH® technology, producing mixed carbonate and rare-earth oxides. Técnicas Reunidas leads the EU-funded PERMANET project involving 12 countries and 32 partners working to build a European supply chain for permanent magnets, potentially opening European markets for St George's Araxá rare earths.
• Boston MetalcoreTechnology or Integration · 1 April 2026Boston Metal, a US-based company originating from MIT that has attracted over US$500M in investment from BHP, BMW, Microsoft, ArcelorMittal, Vale, and Aramco, entered a strategic alliance with St George Mining in April 2026 to trial its Molten Oxide Electrolysis (MOE) technology for niobium production at Araxá. Boston Metal's CEO previously spent nearly 30 years at CBMM, bringing direct expertise from the world's largest niobium mine adjacent to Araxá.
• Xinhai Mining TechnologysupportingTechnology or IntegrationMoU with Xinhai Mining Technology for metallurgical testing at the Araxá project, supporting process development for the rare earth and niobium deposit.
• Fangda GroupsupportingStrategic or Co-development PartnerMoU with Fangda Group for potential offtake agreements from the Araxá project, targeting the Chinese market for rare earth and niobium products.
• MagBras Initiative (Brazil)coreStrategic or Co-development PartnerStrategic partnership with Brazil's MagBras initiative for integration into downstream magnet processing capacity. MagBras is a Brazilian government-linked program to develop domestic rare earth magnet manufacturing capability, positioning St George's Araxá output as feedstock for a domestic Brazilian magnet supply chain.
• REalloys Inc.coreStrategic or Co-development PartnerREalloys (NASDAQ: ALOY) is North America's only operational facility converting rare earth oxides into defense-grade metals and alloys, supplying the US Department of Defense. St George has secured strategic alignment with REalloys as a potential downstream processing partner and feedstock supplier, with REalloys having secured non-binding feedstock agreements from Brazil alongside Kazakhstan and Greenland.
• WorleysupportingImplementation/ SI/ Consulting PartnerWorley was appointed as technical adviser for the Araxá Project in May 2026 to provide engineering and project development expertise as the project advances through feasibility studies toward a financial investment decision.
• PERMANET (EU-funded project)supportingStrategic or Co-development PartnerTécnicas Reunidas leads the EU-funded PERMANET project involving 12 countries and 32 partners working to build a European supply chain for permanent magnets. St George's participation via the Técnicas Reunidas partnership positions its Araxá rare earths for European market access.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• CBMM (Companhia Brasileira de Metalurgia e Mineração): The world's largest producer of niobium products (~80% of global supply), operating out of Araxá immediately adjacent to St George's project. It is the directly comparable benchmark for niobium production economics and operational know-how.
• Lynas Rare Earths: Australia's largest non-China rare earth producer and processor with Mt Weld mine and Kalgoorlie processing facility. Closest Western-aligned listed developer/producer with comparable NdPr exposure and customer-profile overlap.
• MP Materials: Operator of the largest Western rare earth mine (Mountain Pass, USA) with downstream magnet ambitions, directly comparable as a Western ex-China REE producer focused on NdPr for defense and EV customers.
• USA Rare Earth: US-listed developer with mining and processing assets (including the Serra Verde acquisition) focused on ex-China rare earth supply. Comparable as a Western government-backed rare earth offtake counterparty.
• Pensana: UK-listed developer of the Longonjo rare earth project in Angola with a planned processing hub in the UK. Similar pre-revenue rare earth developer positioning with Western downstream alignment.
• Energy Fuels: US-based uranium and rare earth processor with White Mesa Mill rare earth processing capability, recently expanded into monazite-to-REO processing. Comparable Western rare-earth midstream/processor addressing the same DoD supply-chain priority.
• Niobec / IAMGOLD (Niobec mine): One of only three operating primary niobium producers globally (Saint-Honoré, Québec). Comparable as a Western niobium producer competing for the same potential US/EU niobium offtake pool.

Broad incumbents

• Iluka Resources: Major Australian mineral sands producer with a fully-funded rare earth refinery at Eneabba. Comparable as an ASX-listed Western rare earth refiner competing for the same ex-China offtake pool.
• Ivanhoe Mines: Canadian diversified miner with critical mineral exposure (Kamoa-Kakuli copper and Western Tootega platinum group interest). Comparable as a critical-minerals developer attracting non-traditional Western finance and strategic investment.

Emerging players

• Peak Resources: Australian rare earth developer (Ngualla project in Tanzania) targeting NdPr. Comparable as an emerging, ex-China, Western-focused REE developer attracting similar government and strategic offtake support.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/stgeorgemining
• LinkedInlinkedin.com/company/st-george-mining-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about St George Mining