TMK Energy’s Declaration of Discovery for its 1.2Tcf Gurvantes XXXV project in Mongolia has been accepted, the first step towards a production licence, ahead of appraisal.

Critica Limited’s WA rare earths scoping study has delivered a huge $2.7 billion pre-tax valuation, 56% IRR and $556 million in upfront capital earmarked for a 14-year operation.