Today we take a look at a company that is focused on some of the most valuable metals, critical and precious, globally. This company has both mining and exploration stage project interests in multiple countries as well as its own high-value metals cracking and leaching technology. It is also involved in non-fuel minerals marketing and trading.
Auxico Resources Canada Inc. (CSE: AUAG) (“Auxico“) is focused on the production and trading of critical and other high–value metals such as tantalum, niobium, iridium, tin, and the rare earths; as well as gold and the platinum group metals. Auxico owns directly or through joint ventures mineral rights in the Democratic Republic of Congo, Bolivia, Colombia, Brazil, and Ivory Coast. Auxico also has the worldwide rights to an environmentally friendly, non-mercury, non-cyanide gold and silver extraction process; and it is proposing to build mercury and cyanide-free gold and silver processing plants. Auxico’s cracking and leaching extraction technology (UAEx) can be used fin the processing of a variety of critical and high–value metals to improve yields and economics.
Auxico’s global projects location map
Auxico’s high-grade rare earths projects, plus tantalum and niobium
Auxico’s recent focus is on two very high-grade rare earths projects, in Colombia and Brazil, with a strategy of positioning the Company to be a major supplier of rare earths to North America.
Auxico Columbia properties
Auxico has acquired a total of 1,482 hectares of mineral rights and surface rights to properties (Minastyc, Agualinda) located in the municipality of Puerto Carreño, Colombia. The Properties are located within a strategic area designated by the Colombian Government for its potential for tantalum, niobium and the rare earths.
Auxico state (January 2022 company presentation):
“AUXICO has made a significant discovery of high–value rare earth ore in Colombia, with a total rare earth content of 56.81%. Subsequent to a sampling program of 23 pits, samples from the Company–controlled property were sent to Canada and analyzed by Coalia Research Institute in Thetford Mines, Canada. Test results on a sample from a separate pit on the property resulted in 47% tin content, as well as with tantalum, niobium, scandium and rare earth credits. The pitting program was conducted on the property subsequent to a satellite imagery interpretation study which identified in excess of 20 priority exploration targets that are in the process of being sampled.”
Note: Bold emphasis by the author.
Auxico Columbia has the highest global TREO content by weight at 56.81 wt%
Auxico Brazil JV
Auxico has an option to enter into a JV for the development of their properties in Brazil with a total rare earth oxide content of up to 63.49%. This is also exceptionally high.
Auxico’s business strategy is a mix between high value metals exploration, processing, marketing & trading from multiple projects globally
Note: Coltan is an ore that contains niobium and tantalum. Niobium was originally named “columbium” thus columbium and tantalum = coltan.
In addition to the above rare earth projects, Auxico has an MOU agreement with Minampro Asociados S.A.S for the exploitation and trading of industrial sands (tantalum ore) originating from Vichada, Colombia.
Auxico also recently signed a JV to acquire a 70% interest in a rare earth property in Bolivia. What is very interesting is that the property has “confirmed the presence of pegmatite veins containing lithium mineralization, as well as high-grade cesium and rubidium mineralization, and various rare earths.”
High-value metals extraction and processing
Auxico has several agreements in place to process high-value metals. In Columbia, Auxico plans to build a 10,000 square meter rare earth refining facility. In the DRC, Auxico has signed a JV agreement with Kibara Minerals for the concentration and export of tantalum and niobium ores.
Auxico state: “AUXICO has licensed a patent–pending environmentally friendly extraction technology (UAEx) for the processing of high–value metals. The UAEx process is very effective on high–value rare earth samples, achieving +80% recoveries of select rare earth elements over a 2–hour leaching time.”
Marketing and trading of metal ores
Auxico is also involved with marketing and selling manganese ore from Brazil, an MOU for exploitation and commercialization of tantalum, niobium, iridium and tin from industrial sands located in Bolivia, and has a LOI for the exploitation and trading of tantalum and iridium bearing minerals from the Ivory Coast.
Auxico is certainly an adventurous company with projects in several high-risk countries. However, by diversifying across many countries, many projects, many valuable metals, and mining exploration and processing, marketing & trading; Auxico aims to lessen the risks and achieve success. In many ways, Auxico reminds me of a very early stage version of Glencore.
Auxico Resources Canada trades on a market cap of C$44 million and looks suitable for adventurous and risk-tolerant investors hoping to prosper from Auxico’s efforts across a wide range of valuable metals. A very interesting company with plenty of paths to profitability and success.