With critical minerals trending on the agenda of governments across the globe, several ASX-listed developers are strategically positioning themselves for growth in 2026.
Ark Mines, Krakatoa Resources and Richmond Vanadium Technology are advancing projects that could become key suppliers to domestic and international markets.
Ark Mines
Ark Mines has expanded its resource drilling program at the Sandy Mitchell project in Queensland, targeting 330 million tonnes to build on a current 71.8 million tonne (Mt) measured resource within a broader 1.3–1.5 billion tonne exploration target.
Managing director Ben Emery told Australian Mining the pre-feasibility study (PFS) is well underway and scheduled for completion in the second quarter of 2026.
“Projects with credible studies, clear processing pathways and near-term production potential are increasingly well placed to secure funding or attract investors,” he said.
“Ark Mines is positioning itself within this category following its exploration and development progress, paving the way for even bigger milestones such as the PFS in 2026.”
Emery said the favourable macroeconomic and geopolitical environment for rare earths helped the company.
“Timing is everything in mining and Ark Mines is well positioned to become an ASX-listed near-term rare earths producer,” he said.
“The company’s mineral composition is aligned with global demand trends and has already attracted interest from domestic and international end users.”
Backing from the Queensland Investment Corporation ($4.5 million) and potential access to a multi-user rare earth processing facility in Townsville further supports the project’s momentum.
Krakatoa Resources
Krakatoa Resources focused on the Zopkhito antimony-gold project in the Caucasus region country of Georgia, completing a maiden drill program and extensive on-site preparations.
“Our exploration and development work at the Zophkito antimony-gold project in Georgia throughout 2025 has laid the foundation for a much larger year in 2026,” Krakatoa Resources chief executive officer Mark Major said.
“The completed groundwork on-site, our maiden drilling program and the ongoing target definition mean Krakatoa will enter 2026 in a strong position.”
Major said supply dynamics are enhancing the project’s strategic value.
“While the geopolitical shifts or supply-chain environment in 2025 have not changed our strategy, they have strengthened our confidence in antimony and gold,” he said.
“China’s tightening of antimony export controls has increased global interest in securing alternative supply, reinforcing the strategic value of the Zophkito project.”
Richmond Vanadium Technology
Richmond Vanadium Technology (RVT) progressed the Richmond–Julia Creek project in Queensland, completing a strategic corporate review, BFS advancement, metallurgical testing, and a 2025 drilling program targeting higher-grade ore.
“Our 2025 work positions the company to tighten project economics and approvals while aiming for BFS completion in H2 2026,” executive chair Brendon Grylls said.
“The biggest opportunities are accelerating demand from energy storage and EV supply chains, supported by government de-risking initiatives.”
RVT is also developing a Vanadium Flow Battery demonstration with Rongke Power to strengthen market access.
“These efforts, combined with Queensland coordinated project status, position RVT to shorten timelines and secure bankable offtakes and funding outcomes,” Grylls said.
All three companies cited evolving supply chains and geopolitical shifts in 2025 as reinforcing their strategies.
As critical minerals become increasingly central to energy transition, defence and industrial applications, these ASX-listed developers are advancing projects that could become essential to global supply chains in the near future.
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