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Brazilian Rare Earths Limited reports project, exploration and development updates for rare earth and critical mineral assets in Bahia, Brazil. Recurring news covers drilling and assay results at the Monte Alto Rare Earths Project, district-scale exploration at the Sulista Project, metallurgical test work, ore sorting studies, and permitting milestones tied to trial mining and pilot-plant activities.
The company’s updates also include project studies for the Amargosa Bauxite-Gallium Project, processing flowsheet work for rare earth recovery, shareholder voting matters, capital-structure disclosures, governance matters, and operating and financial results.
Brazilian Rare Earths (ASX: BRE, OTCQX: BRELY) reported strong June 2026 quarter progress, led by exploration at the Monte Alto District and the Velhinhas project, and shareholder approval of the Amargosa bauxite-gallium demerger via the Alurion Resources IPO.
High-resolution airborne geophysics at Velhinhas defined more than 9 km of cumulative exploration corridors south of the ultra-high-grade Monte Alto Deposit, confirming four north-northeast mineralised trends. Reconnaissance diamond drilling returned up to 19.6% TREO with high NdPr, DyTb, yttrium, niobium, scandium, tantalum and uranium grades, consistent with BRE’s existing REE-Nb-Sc-Ta-U systems.
At Monte Alto, drill hole MADD0210 intersected 2.5 m at 7.5% TREO from 6 m, including 1.3 m at 10.9% TREO, with 58,249 ppm (5.8%) Y2O3. An auger hole 200 m away returned 12 m at 8.7% TREO, and yttrium comprised ~48–53% of TREO in significant bedrock intervals. BRE has unified these assets into a single Monte Alto District framework.
Shareholders approved the Amargosa demerger with 99.94% of votes in favour. Alurion Resources’ IPO is set to raise A$50 million via 47,619,048 shares at A$1.05, implying an undiluted equity value of ~A$256 million. BRE will retain ~16% of Alurion, valued at ~A$41 million at the offer price, with Alurion’s ASX listing expected on 30 July 2026, subject to approval.
Brazilian Rare Earths (ASX: BRE / OTCQX: BRELY) announced that its Australian subsidiary Alurion Resources has accepted applications for 47,619,048 new fully paid ordinary shares at A$1.05 per share under its Australian initial public offering, for gross proceeds of about A$50 million. According to Brazilian Rare Earths, the shares are expected to list on the ASX under the code “ALU”.
Brazilian Rare Earths stated that Alurion intends to use IPO proceeds to fund continued development of the Amargosa Bauxite-Gallium Project, which was previously demerged into Alurion following approval by Brazilian Rare Earths shareholders, with 99.94% of votes cast in favour at the 10 July 2026 general meeting. Admission of Alurion to the ASX official list is expected on 30 July 2026, with trading on a normal settlement basis expected to commence on 3 August 2026, subject to ASX approval and satisfaction of admission conditions. The announcement also notes that the securities have not been registered under the U.S. Securities Act and are not being offered in the United States.
Brazilian Rare Earths (ASX: BRE, OTCQX: BRELY) reported new drilling from the Monte Alto HREE+Y Discovery, ~2.5 km south of the flagship Monte Alto Deposit in Bahia, Brazil. Six diamond holes totalling 604 m confirm high-grade heavy rare earth and uranium mineralisation continuing from the weathered profile into fresh bedrock.
Key intercept MADD0210 returned 2.5 m at 7.5% TREO from 6.0 m, including 1.3 m at 10.9% TREO with 5.8% Y2O3, 4,135 ppm Dy2O3, 488 ppm Tb4O7 and 1,588 ppm U3O8. Auger hole STU2478, ~200 m southwest, intersected 12 m at 8.7% TREO from 18 m to end of hole, remaining open at depth.
According to Brazilian Rare Earths, yttrium represents about 48–53% of TREO in all significant bedrock intervals, with a peak 58,249 ppm Y2O3. Four of the first six diamond holes carry significant heavy rare earth mineralisation. The company has formally consolidated the Monte Alto Deposit, HREE+Y Discovery, Velhinhas Corridor and regional corridors into a unified Monte Alto District, with follow-up diamond and auger drilling and a +5,000 m second-phase program at Velhinhas underway.
Brazilian Rare Earths (OTCQX: BRELY) reported new exploration results from the Velhinhas Corridor, south of the Monte Alto rare earth deposit in Bahia, Brazil.
The high-resolution airborne survey outlines over 9 km of rare earth target trends across four parallel zones, supported by ultra-high-grade surface samples up to 39.6% TREO and reconnaissance drilling with grades up to 19.6% TREO plus significant NdPr, DyTb, yttrium, niobium, scandium, tantalum and uranium. A +5,000 m follow-up drilling program with an additional rig is underway.
Brazilian Rare Earths (OTCQX: BRELY) has appointed a dedicated CEO and Board for its new subsidiary Alurion Resources, which holds the Amargosa Bauxite Project in Bahia, Brazil. BRE plans to demerge Alurion and pursue a proposed IPO and ASX listing, subject to approvals.
Mauricio Noronha becomes CEO, bringing Brazilian bauxite and industrial minerals experience. The Board combines expertise in aluminium, Brazilian mining, project development, corporate finance and capital markets, aiming to advance Amargosa as a standalone bauxite and critical minerals company.
Brazilian Rare Earths (OTCQX:BRELY) plans to demerge its 100%-owned Amargosa Bauxite–Gallium Project into a new ASX-listed company, Alurion Resources (ALU). The deal aims to create a dedicated bauxite and critical minerals developer while BRE focuses on rare earths.
Eligible BRE shareholders are expected to receive 0.5607 Alurion shares per BRE share via an in-specie distribution, with Alurion targeting an IPO to raise A$30–50 million. BRE expects to retain a 17–18% strategic stake, subject to final IPO size and allocations.
Amargosa hosts a 568 Mt JORC resource, including 98 Mt of direct-ship bauxite. A Scoping Study at US$71/dmt bauxite price indicates an after-tax NPV8 of US$630m, 82% IRR, 1.2-year payback and US$119m initial capex.
Brazilian Rare Earths (ASX: BRE / OTCQX: BRELY) reported expanded Monte Alto and Sulista district results, metallurgical scale-up, and a trial mining licence. Key metrics: drill intercepts up to 35.3% TREO, NdPr up to 59,645 ppm, ore-sorting single-pass upgrade to 27% TREO, and a 97% extraction test at 150°C. Monte Alto drilling totals 32,372 metres; JORC MRE and scoping study targeted mid-2026. ANM issued a Trial Mining Licence for up to 2,000 tpa, supporting pilot plant commissioning at Camaçari in Q3 2026.
Brazilian Rare Earths (ASX:BRE, OTCQX:BRELY) has secured a Trial Mining Licence from Brazil’s ANM for the Monte Alto project in Bahia, authorising extraction of up to 2,000 tonnes per annum of product. Trial mining will supply bulk shipments for offtakes and metallurgical testing and feed BRE’s Camaçari pilot plant, on track to commence operations in Q3 2026. BRE expects to submit an Economic Development Plan to ANM in Q2 2026, the next federal step toward a full mining concession. The licence supports BRE’s low-impact, quarry-scale, dry-processing development model.
Brazilian Rare Earths (ASX: BRE / OTCQX: BRELY) reports exploration success at Sulista, expanding the district to a >17 km strike and confirming Sulista East as a >1 km, >230 m vertical anchor deposit. Over 4,000 m diamond drilling plus geophysics and auger work support a maiden JORC MRE expected mid-2026.
Key assay highlights include up to 16.7% TREO, 28,295 ppm NdPr, and significant Nb, Sc, Ta and U grades; a new +10,000 m drill program is underway across multiple growth corridors.
Brazilian Rare Earths (ASX: BRE / OTCQX: BRELY) reported ultra-high-grade drilling at the Monte Alto project, with assays up to 35.3% TREO and continuous intercepts such as 27.6 m at 19.4% TREO and 23.9 m at 17.4% TREO.
The results include NdPr up to 59,645 ppm (5.96%), heavy REEs and critical co-enrichments (Nb, Sc, Ta, U). Strike has extended ~350 m to ~1.2 km; 75 new diamond holes (12,726.4 m) raise total drilling to 32,372 m, supporting future MRE and Scoping Study work.