Rapid Lithium Expands into Canada with Strategic Acquisition of Ga, Ge Mineral Claims

Rapid Lithium

Australia-based Rapid Lithium is set to enhance its portfolio by acquiring several mineral claims in British Columbia, a move orchestrated through a deal with Canada-based Broadstone Resources. This acquisition, part of the Prophet River project, is aimed at tapping into the rich deposits of zinc, gallium (Ga), and germanium (Ge) — metals of increasing strategic importance due to their applications in high-tech industries.

Strategic Metals in the Spotlight

The Prophet River project has garnered attention due to its remarkably high germanium values, some of the highest recorded globally, according to Rapid Lithium. This positions the project as a potentially significant source of germanium and gallium, metals crucial for military and communication technologies in the US and Europe.

These metals have recently been thrust into the limelight following China’s decision to ban all exports of gallium and germanium to the US at the beginning of December, escalating tensions within global technology supply chains. This geopolitical move has underscored the critical need for diversified sources of these metals to secure technological and defense capabilities.

Market Dynamics and Price Fluctuations

The acquisition comes at a time when the market for these metals is experiencing volatility. Following China’s export ban, prices for gallium in Europe surged from $490-550 per kilogram at the beginning of the month to $550-600 per kilogram, as reported by Argus on 19 December. Similarly, germanium prices have seen a sharp increase, climbing to $2,950-3,350 per kilogram from $2,950-3,100. This price hike is a direct consequence of US buyers rushing to secure supplies from non-Chinese sources, highlighting the strategic nature of Rapid Lithium's new venture into gallium and germanium production.