Osmond receives maximum Spanish gov grant to develop EU's first rare earths mine
ASX-listed Osmond Resources has received a €250000 provisional grant from Ministerio para la Transición Ecológica y el Reto Demográfico, under the Spanish government's Critical Minerals Plan 2026 to 2030.
Osmond is developing what will be the EU's first rare earths, titanium and zirconium mine.
Osmond's flagship Orión critical minerals project was one of nine projects that benefited from a total €1.5-million of funding in this initial round, with €250000 being the maximum amount awarded to one project.
The Spanish government plans to provide a total €182-million for private exploration companies through 2030.
The company plans to start a 13-hole drill programme in coming days to test the areas outside of the existing mineral resource estimate (MRE) boundary.
In addition to upgrading the project's MRE, Osmond aims to prepare an updated scoping study with an increased mine life for Orión.
Concurrently, Osmond is pursuing a secondary listing in Spain and progressing downstream product studies with a focus on rare earth oxides, titanium and zirconium metal powders.
