OD6 Metals Limited (ASX:OD6)
OD6 Metals Limited (ASX:OD6) is pursuing exploration and development opportunities within the resources sector. The Company holds a 100% interest in the Splinter Rock Project and Grass Patch Project which are located in the Goldfields-Esperance region of Western Australia, about 30 to 150km north of the major port and town of Esperance.
The Company's projects are considered prospective for clay rare earth elements (REEs). It is aiming to delineate and define economic resources and reserves to develop into a future revenue generating operational mine. Clay REE deposits are currently economically extracted in China - world's dominant producer.
Rare earth elements (in particular, Nd and Pr), are becoming increasingly important in the global economy, with uses including advanced electronics, permanent magnets in electric motors and electricity generators (such as wind turbines) and battery technologies.