St George Mining Delivers High-Grade Rare Earths and Niobium Hits at Araxá
St George Mining Limited (ASX: SGQ) (“St George” or the “Company”) has released a new batch of diam…
St George Mining (ASX: SGQ): Company Overview, Share Price, Latest News & Announcements
St George Mining Limited (ASX: SGQ): Company Overview
St George Mining Limited is an ASX-listed critical minerals mining company. It has 100% ownership of the Araxá Niobium and Rare Earths Project in Minas Gerais, Brazil.
The Araxá Project is located within the Barreiro Carbonatite. It is adjacent to CBMM’s niobium operations. It supplies approximately 80% of global niobium. St George also holds exploration-stage projects in Western Australia. It covers lithium, nickel, copper and gold.
| Detail | Information |
|---|---|
| Full Company Name | St George Mining Limited |
| ASX Ticker | SGQ |
| Sector | Critical Minerals / Mining Exploration |
| Country | Australia |
| ASX Listing Date | 2010 |
| Registered Office | Suite 2, Level 2, 28 Ord Street, West Perth WA 6005 |
| Brazil Project Address | Araxá, Minas Gerais, Brazil |
| Website | stgm.com.au |
St George Mining Limited (ASX: SGQ): News & Announcements
St George Mining Enters ASX All Ordinaries Index on the Back of Major Resource Upgrade at Araxá
St George Mining Limited (ASX: SGQ) (“St George” or “the Company”) has reac…
St George Mining Delivers 75% Resource Upgrade at Araxá, Cementing Its Place Among the World’s Top Rare Earths Developers
St George Mining Limited (ASX: SGQ) has achieved a major milestone at its 100%-owned Araxá Rare Ear…
St George Mining Limited (ASX:SGQ): Videos
St George Mining Limited (ASX: SGQ): Business Core Insights
St George is advancing the Araxá Project for producing rare earth oxides, magnet rare earth products and ferroniobium for Western markets. There is no production revenue yet. All the capital is used for advancing the project.
Rare Earths (TREO and MREO)
Araxá has a high concentration of magnet rare earths, specifically Neodymium (Nd) and Praseodymium (Pr). These elements are essential for permanent magnets used in EV motors, wind turbines and defence systems.
Niobium (Nb₂O₅)
The Araxá deposit occupies the same carbonatite complex as CBMM’s niobium mine. Niobium strengthens high-strength structural steel. It is gaining traction in next-generation battery and superconductor applications.
Where St George Mining Limited (ASX: SGQ) Operates
| Project | Location | Commodities | Status |
|---|---|---|---|
| Araxá Project | Minas Gerais, Brazil | Niobium, Rare Earths | Active — drilling and development studies |
| Mt Alexander Project | Western Australia | Nickel, Copper, Gold, Lithium | Exploration |
| Paterson Project | Western Australia | Gold, Base Metals | Exploration |
| Broadview Project | Western Australia | Lithium, Nickel | Exploration |
| Ajana Project | Western Australia | Critical Metals | Exploration |
| Destiny Project | Western Australia | Gold, Nickel | Exploration |
| Lithium Star (WA Projects) | Western Australia | Lithium | Exploration |
St George Mining Limited (ASX: SGQ): Key Highlights / Investment Snapshot
Investment Snapshot
| Metric | Detail |
|---|---|
| Total MRE (TREO) | 70.91 Mt @ 4.06% TREO and 0.62% Nb₂O₅ (2% TREO cut-off) |
| M&I Resource | 29.49 Mt @ 4.56% TREO (218% increase) |
| MRE Upgrade | 75% increase announced 3 March 2026 |
| Total Nb₂O₅ Inventory | 95.47 Mt based on a 0.2% Nb₂O₅. |
| Capital Raised (Nov 2025) | A$72.5 million (institutional + strategic) |
| Cash & Term Deposits | A$54.4 million (as at 31 December 2025) |
| 52-Week Range | A$0.015 – A$0.180 |
| Key Strategic Investors | Hancock Prospecting (6.24% stake) |
St George Mining Limited (ASX: SGQ): Projects and Assets Portfolio
Araxá Niobium and Rare Earths Project
St George acquired the Araxá Project from Itafos Inc. in February 2025. The Project is 100% owned and carries no debt or contingent financial obligations.
Key project facts:
- Located in the Barreiro Carbonatite. It is approximately 6 km from Araxá city
- Road and rail access, low-cost hydro-electric power and reticulated water on site
- Mineralisation starts at surface and extends 100 to 120 metres depth
- 100% of the resource in the top 100 metres sits in the weathered profile, supporting free-digging extraction without blasting
- Drilling has not identified any boundary to the system
Updated JORC MRE (March 2026) — 2% TREO Cut-Off:
| Classification | Mt | TREO (%) | MREO (%) | Nb₂O₅ (%) |
|---|---|---|---|---|
| Measured | 8.02 | 5.23 | 0.95 | 1.06 |
| Indicated | 21.46 | 4.31 | 0.80 | 0.63 |
| M&I | 29.49 | 4.56 | 0.84 | 0.75 |
| Inferred | 41.42 | 3.71 | 0.72 | 0.52 |
| Total | 70.91 | 4.06 | 0.77 | 0.62 |
Additional Niobium Resource — 0.2% Nb₂O₅ Cut-Off:
| Classification | Mt | Nb₂O₅ (%) | TREO (%) |
|---|---|---|---|
| M&I | 2.6 | 0.31 | 1.45 |
| Inferred | 21.95 | 0.54 | 1.17 |
| Total | 24.56 | 0.52 | 1.20 |
Araxá vs Benchmark Hard-Rock REE Deposits (ex-China):
| Company | Project | Total Resource (Mt) | TREO Grade (%) | NdPr Grade (%) | Contained NdPr (Mt) | Stage |
|---|---|---|---|---|---|---|
| St George Mining (ASX: SGQ) | Araxá, Brazil | 70.91 | 4.06 | 0.77 | 0.55 | Development studies |
| Lynas (ASX: LYC) | Mt Weld, Australia | 106.6 | 4.1 | 0.61 | 0.65 | Producing |
| MP Materials (NYSE: MP) | Mountain Pass, USA | 40.6 | 5.9 | 0.93 | 0.38 | Producing |
| Arafura (ASX: ARU) | Nolans, Australia | 56.0 | 2.6 | 0.69 | 0.38 | Development; financing |
Western Australian Projects
No material activity occurred at the WA projects during Q1 2026. Further programmes are being planned.
| Project | Key Commodities | Notes |
|---|---|---|
| Mt Alexander | Nickel, Copper, Gold, Lithium | High-grade Ni-Cu-PGE at Cathedrals Belt; 4.5km strike; 75% owned (25% IGO Limited) |
| Paterson | Gold, Base Metals | Early-stage exploration |
| Ajana | Critical Metals | Early-stage exploration |
| Destiny | Gold, Nickel | Early-stage exploration |
| Lithium Star | Lithium | 90% held; 10% Amperex Technology Limited |
St George Mining Limited (ASX: SGQ): Financial Performance
Financial Position
| Item | Q1 2026 (A$'000) | YTD 9 Months (A$'000) |
|---|---|---|
| Exploration and evaluation | (4,933) | (13,945) |
| Staff costs | (559) | (1,564) |
| Administration and corporate costs | (1,826) | (3,790) |
| Interest received | 604 | 768 |
| Net cash used in operations | (6,704) | (18,542) |
| Tenement and land payments | (3,287) | (20,285) |
| Option exercise proceeds | 694 | 6,137 |
| Cash at end of quarter | 43,660 | |
| Quarters of funding available | 6.5 |
Capital structure notes:
- A$72.5 million raised in November 2025 at A$0.10 per share via institutional and strategic placement
- Hancock Prospecting holds approximately 6.24% following the strategic placement
- No loan facilities drawn as at 31 March 2026
- No dividends paid; all capital directed to Araxá
Downstream Partnerships
| Partner | Country | Focus | Notes |
|---|---|---|---|
| REAlloys Inc (NASDAQ: ALOY) | USA | Rare earth separation and offtake | Supplies US Defense Logistics Agency and DOE AMES National Laboratory; potential offtake of up to 40% of REE production; alliance extended January 2026 |
| MagBras | Brazil | Mine to Magnet | Part of Brazil's Federal REE-to-magnets supply chain programme |
| Boston Metal | USA / Brazil | Niobium via MOE technology | MIT-developed process; backed by Microsoft, BHP, ArcelorMittal and BMW; CEO is former CBMM CEO |
| Técnicas Reunidas | Spain | RARETECH® REE processing | EU PERMANET project leader; testing flowsheets for MREC and REO production; March 2026 MOU |
| Nanum Nanotecnologia | Brazil | Cerium commercialisation | Targets three-fold increase in NdPr and HREO concentration via cerium separation; March 2026 agreement |
Leadership Team
| Name | Role |
|---|---|
| John Prineas |
Executive Chairman John co-founded St George Mining and brings over 25 years of experience in mining, finance and corporate governance. He previously served as Australian Country Head for Commerzbank, with a focus on project and acquisition finance for resources and infrastructure. |
| Caue 'Paul' Araujo |
Director, Corporate Development Paul has held senior roles at Polaris, Hatch's advisory division and SRK Consulting. His work spans geology, mining finance and technical modelling. |
| John Dawson |
Non-Executive Director John has over 30 years in finance and mining. He served as Managing Director of RFC for Australia at Goldman Sachs and as Global Head of Commodities and Country Head for Australia at Dresdner Kleinwort Wasserstein. |
| Sarah Shipway |
Non-Executive Director and Company Secretary Sarah is a Chartered Accountant with experience in ASX listings, financial reporting and equity funding. She has served as Company Secretary of St George Mining since March 2012. |
| Adolfo Sachsida |
Advisor to the Board Adolfo served as Federal Minister of Mines and Energy and Chief Secretary of Economic Affairs in Brazil’s Ministry for the Economy. He advises on government relations as the Company develops the Araxá Project. |
| Marina Spinola |
Advisor to the Board Marina is Executive Director for Institutional Relations and Sustainability at the Dom Cabral Foundation, ranked among the world's top business schools by the Financial Times. |
St George Mining Limited (ASX: SGQ): Strategy & Future Outlook
Pillar 1: Resource Expansion
Three diamond rigs operate 24/7 at Araxá, with a reverse circulation rig active at East Araxá. The Company targets further growth in Measured and Indicated tonnes to build the confidence base for pre-feasibility studies. The MRE remains open at depth and in all lateral directions.
Pillar 2: Downstream Processing
St George tests multiple processing routes in parallel rather than committing early to a single flowsheet.
Active workstreams:
- Traditional flotation circuits, used commercially in the Araxá region for over 40 years
- RARETECH® hydrometallurgical processing by Técnicas Reunidas
- REAlloys’ rare earth splitting and separation tech
- Boston Metal’s MOE process for niobium production
- Nanum Nanotecnologia’s cerium separation, targeting a three-fold NdPr concentration increase
Regulatory and Geopolitical Tailwinds
| Driver | Relevance to St George |
|---|---|
| Western nations cutting Chinese REE dependence | Araxá provides a Western-aligned source of supply |
| US designates niobium a top-priority critical mineral | Opens a non-Chinese supply pathway for the US market |
| EU Critical Raw Materials Act | Drives demand for non-Chinese REE; Araxá directly relevant |
| US allied critical mineral supply chain focus | Creates pathway to US government support and financing |
| EV and wind turbine demand growth | Increases demand for Nd-Pr and niobium |
| Minas Gerais ICMS tax exemption | Development equipment costs reduced by up to 18% |
| Brazil MagBras Federal programme | Includes Araxá in Brazil's national REE-to-magnets supply chain |
| Brazil-US Critical Minerals Forum | St George was one of six companies selected to present |
St George Mining Limited (ASX: SGQ): Competitors & Industry Position
Key Competitors
| Company | HQ | Key Project | Notes |
|---|---|---|---|
| MP Materials (NYSE: MP) | USA | Mountain Pass, California | Only producing hard-rock REE mine in the US; backed by US DoD and Apple |
| Lynas Rare Earths (ASX: LYC) | Australia | Mt Weld, WA | Largest ex-China REE producer |
| Energy Fuels (NYSE: UUUU) | USA | White Mesa Mill, Utah | US REE processing from monazite |
| Arafura Rare Earths (ASX: ARU) | Australia | Nolans, NT | Nd-Pr focused; advanced permitting stage |
| NioCorp Developments | USA | Elk Creek, Nebraska | Niobium, REE and Scandium; financing stage |
| CBMM | Brazil | Araxá, Minas Gerais | World's dominant niobium producer; adjacent to St George |
| Brazilian Rare Earths | Australia/Brazil | Rocha da Rocha, Bahia | Carbonatite REE explorer in Brazil |
St George Mining Limited (ASX: SGQ): Conclusion
Why St George Mining Matters
St George Mining (ASX: SGQ) holds one of the most strategically positioned critical minerals assets in the world. The Araxá Project in Brazil sits within the same carbonatite complex as CBMM’s world-leading niobium mine, and has now been confirmed as the largest hard-rock rare earths deposit in South America and one of the highest-grade in the Western world.
The investment case rests on four things
- The Araxá resource At 70.91 Mt @ 4.06% TREO and 0.62% Nb₂O₅ and still growing in all directions — the Araxá deposit offers exceptional scale and grade. The March 2026 upgrade demonstrated the resource can grow rapidly and with increasing confidence, with Measured & Indicated tonnes up 218%.
- Strategic positioning in the Western critical minerals supply chain Rare earths and niobium are on the critical minerals lists of the US, EU and Australia. St George has established itself as a credible supplier to the Western world through its alliances with REAlloys (US DoD supplier), Técnicas Reunidas (EU PERMANET project leader) and MagBras/Boston Metal (Brazil). These are not just commercial relationships, they are supply chain positioning plays in one of the most geopolitically charged commodity markets of the decade.
- Government and institutional support A$72.5 million capital raise anchored by Hancock Prospecting. Tax exemptions from the Government of Minas Gerais. Expedited permitting cooperation. Federal selection for the MagBras initiative. These are markers of a project that has earned the confidence of sophisticated institutions and governments.
- Exploration upside With mineralisation open in all directions and three rigs running 24/7, there remains substantial resource upside at Araxá. Each successive announcement since June 2025 has extended the resource further. The potential for Araxá to become a truly transformational asset is real and growing.
While St George is currently pre-revenue and faces typical development risks such as the need for project financing, flowsheet optimisation, and pending environmental and community approvals, the quality of its underlying assets remains clear.
For investors seeking exposure to Western-aligned rare earths and niobium, St George Mining offers a compelling, asset-backed proposition with genuine world-class credentials.
St George Mining Limited (ASX: SGQ): Frequently Asked Questions
St George Mining (ASX: SGQ) is an Australian-listed critical minerals company developing the 100%-owned Araxá Niobium–Rare Earths Project in Minas Gerais, Brazil. It is focused on defining and developing one of the world’s largest and highest-grade hard-rock rare earths and niobium resources, with the goal of supplying Western supply chains for electric vehicles, wind turbines, defence applications and high-strength steel.
St George’s primary focus is the Araxá Project in Minas Gerais, Brazil. It also holds a portfolio of exploration-stage projects in Western Australia covering lithium, nickel, copper and gold.
The Araxá Project is a de-risked, potentially world-class carbonatite-hosted niobium and rare earths project located adjacent to CBMM’s world-leading niobium mining operations in Minas Gerais, Brazil. Acquired in February 2025, it now hosts a JORC MRE of 70.91 Mt @ 4.06% TREO and 0.62% Nb₂O₅ (after a 75% upgrade in March 2026), with mineralisation remaining open in all directions. The total Nb₂O₅ inventory associated with the Araxá Mineral Resource is 95.47Mt, comprising 70.91Mt reported using a 2% TREO cut-off and an additional 24.56Mt reported using a 0.2% Nb₂O₅ cut-off
Rare earth elements (REEs) particularly neodymium and praseodymium are essential for permanent magnets used in EV motors, wind turbines and defence systems. Niobium is used to strengthen steel (high-strength low-alloy steel) and in emerging battery and superconductor applications. Both are classified as critical minerals by the US, EU and Australia. China dominates global REE processing and CBMM dominates global niobium supply, both supply chains are facing growing scrutiny and government efforts to diversify.
St George has alliances across three continents: REAlloys Inc (USA — DoD/DoE supplier, potential 40% offtake), Técnicas Reunidas (Spain — RARETECH® processing, EU PERMANET project leader), MagBras (Brazil — Mine to Magnet initiative) and Boston Metal (USA/Brazil — Molten Oxide Electrolysis niobium processing technology).
No. St George is a pre-revenue development company. For the half-year ended 31 December 2025, the Company reported a net loss of approximately A$24.9 million, primarily reflecting exploration expenditure of $7.4 million and non-cash share-based payments of $13.4 million relating to performance rights that vested upon achieving the 70 Mt MRE milestone. The Company held approximately A$54.4 million in cash and term deposits as at 31 December 2025.
St George is led by John Prineas as Executive Chairman — a founding shareholder and director with over 25 years’ experience in mining, finance and corporate law. He is supported by Non-Executive Directors John Dawson and Sarah Shipway, and high-level Brazilian advisors including former Federal Minister of Mines and Energy Adolfo Sachsida.
No. St George does not pay a dividend. All capital is directed toward advancing the Araxá Project.
Hancock Prospecting Pty Ltd (controlled by Gina Rinehart) holds approximately 6.24% as a strategic investor following the November 2025 placement. The capital raise also included major North American and European institutional funds.
St George Mining Limited has been listed on the Australian Securities Exchange since 2010 under the ticker SGQ.
Disclaimer
This page is for informational purposes only. It does not constitute financial product advice. Investors should consider their personal financial situation and seek independent professional advice before making any investment decisions. All figures are sourced from St George Mining ASX filings and official company disclosures.