Business
Agreement With Rio Tinto Unlocks Potential Development of BRE's Advanced High-Grade Bauxite-Gallium Project
SYDNEY, April 14, 2025 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) (BRE) is pleased to announce that it has entered into a binding agreement with Rio de Contas Desenvolvimentos Minerais Ltda. (Rio Tinto Brazil) to amend the Amargosa Tenement Acquisition Agreement. Amargosa Bauxite Project Amargosa is an advanced stage, large-scale bauxite project acquired from Rio Tinto in 2023, adjacent to select BRE rare earth tenements in Bahia, BrazilThe large-scale bauxite pr
About this update from Brazilian Rare Earths Limited
[{"type":"image","alt":"Brazilian Rare Earths","displaySize":"","headline":null,"caption":"Brazilian Rare Earths","className":"","disableSlideshowImg":false,"size":{"original":{"width":299,"height":71,"url":"https://media.zenfs.com/en/globenewswire.com/8479090746ee25dde86f5eb11444875c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/da7knBfg0zi5JJzYtToeJA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEwMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/8479090746ee25dde86f5eb11444875c","width":299,"height":71}},"lazy":false},{"type":"text","content":"SYDNEY, April 14, 2025 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) (BRE) is pleased to announce that it has entered into a binding agreement with Rio de Contas Desenvolvimentos Minerais Ltda. (Rio Tinto Brazil) to amend the Amargosa Tenement Acquisition Agreement.","length":301,"tagName":"p"},{"type":"text","content":"Amargosa Bauxite Project","length":24,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Amargosa is an advanced stage, large-scale bauxite project acquired from Rio Tinto in 2023, adjacent to select BRE rare earth tenements in Bahia, Brazil","length":152,"tagName":"p"}]},{"val":[{"type":"text","content":"The large-scale bauxite project benefits from over 10 years of exploration by Rio Tinto, including 56,919 metres of drilling across 4,257 holes and detailed geological data sets","length":177,"tagName":"p"}]},{"val":[{"type":"text","content":"Exploration to date has confirmed thick, high-grade bauxite zones from surface, including intercepts such as 27.5 metres at 51.3% total available alumina content with low levels of reactive silica and iron","length":205,"tagName":"p"}]},{"val":[{"type":"text","content":"BRE and Rio Tinto have signed a binding agreement to replace the existing US$40m bauxite milestone payment at the Amargosa Bauxite Project with a fixed US$1.00/wet tonne royalty on future bauxite sales","length":201,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":735,"olType":false},{"type":"text","content":"High-Grade Gallium Discovery","length":28,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"BRE has re-assayed 1,275 Rio Tinto bauxite samples collected at the Pelé Bauxite Project","length":88,"tagName":"p"}]},{"val":[{"type":"text","content":"New, high-grade gallium discovery confirmed wi...