Everest Metals has been granted membership in the US Defence Industrial Base Consortium (DIBC), enabling the company to advance its Mt Edon rubidium project in Western Australia (WA).

Managed by Advanced Technology International on behalf of the US Department of Defence (DoD), the DIBC aims to strengthen the DoD's industrial base by fostering collaboration between the government and private sector entities.

The approval provides Everest with opportunities for prototyping, access to commercial solutions and project development funding tailored for defence needs.

This membership could also streamline contracting processes and potentially secure non-dilutive funding to expedite the development of the Mt Edon Project.

Everest is actively aiming to establish a commercial pilot plant for the project by 2026.

Everest Metals executive chairman and CEO Mark Caruso said: “We are thrilled to join the DIBC, a testament to the strategic importance of our Mt Edon Rubidium Project. This approval opens doors to collaborate with the US Department of Defence, access non-dilutive funding, and advance our goal of establishing a commercial rubidium pilot plant.

“With rubidium’s critical applications in defence and high-tech industries and forecast growing demand, Everest is well-positioned to address global supply constraints and meet growing demand for this extremely scarce mineral.”

This initiative aligns with the strategic importance of rubidium in defence, aerospace, medical and high-tech industrial applications.

With rubidium's classification as a critical mineral by the US, the project is poised to contribute to domestic production and reduce reliance on international supply chains.

US President Donald Trump invoked emergency powers in March to boost domestic production of critical minerals, aiming to reduce the US' dependency on foreign sources, especially China.

The executive order utilises the Defense Production Act to financially support the processing of critical minerals such as lithium and nickel, vital for electronics and electric vehicle batteries.