The Donald Project

The Donald Rare Earth and Mineral Sands Project, near Minyip, in the Wimmera region of Victoria, encompasses the globally significant Donald deposit. Phase 1 development within the current 27 km² mining lease area contains 525 million tonnes at 4.0% heavy mineral grade. The total Donald mineral resource combining MIN5532 and RL2002 totals 1.81 billion tonnes at 4.6% heavy mineral grade. It represents the world's largest new zircon source and one of the world's most significant rare earths resources outside China. The valuable heavy rare earths assemblage includes dysprosium and terbium from xenotime, alongside neodymium and praseodymium from monazite. Resource highlights include- 525 million tonnes mineral resource at 4.0% grade - 309 Mt ore reserve at 4.4% heavy mineral grade for Phase 1 on MIN5532 - 58+ year mine life over planned two-phase development - Favourable monazite to xenotime ratio of less than 3:1, which is highly advantageous compared to other rare earth projects The project will supply critical minerals vital for energy storage, advanced manufacturing, and next-generation technologies. In 2024, Astron Corporation Ltd entered a joint venture agreement with US critical minerals producer, Energy Fuels Inc. Energy Fuels provided $183 million in secured funding to the joint venture, Donald Project Pty Ltd, trading as Donald Mineral Sands (DMS), which will develop the project. The Victorian Government has issued approval for DMS's Donald Project Work Plan. A Final Investment Decision will follow. Subject to this decision, construction would begin from 2026, with operations commencing from 2027 onwards. With its long life, the Donald Project promises multigenerational benefits. It will contribute more than $200 million annually to the regional economy and create more than 600 jobs, generating sustained growth and opportunity for the region.