Matrix Critical Minerals targets IPO as Narraburra rare earths project advances

Matrix Critical Minerals Limited executive chairman Chris Gibbs spoke with Proactive's Stephen Gunnion about the company’s planned IPO, the potential of its Narraburra Rare Earths Project in New South Wales, and efforts to engage strategic partners and offtake customers.
Matrix is being spun out of Orbit Resources to unlock value from Narraburra, which had been put on hold while its parent focused on the Lewis Ponds gold and silver project. Gibbs said changing market conditions and Chinese export controls had renewed interest in alternative rare earth supplies.
He highlighted Narraburra’s heavy rare earth content, including yttrium, dysprosium and terbium. Metallurgical testing with the Australian Nuclear Science and Technology Organisation (ANSTO) has produced a mixed rare earth carbonate containing 18.7% yttrium.
Two batches have been produced, with further test work planned to refine product specifications and meet customer requirements. Gibbs also discussed meetings with potential offtake partners and the role of early customer engagement in building strategic relationships.
The company plans further demonstration plant testing alongside project studies. Gibbs outlined Narraburra’s infrastructure advantages, including sealed-road access, nearby mining communities, an established workforce and power infrastructure.
The IPO offer is open, with the company aiming to list before the end of 2026. Watch the full interview for more on the offer, Narraburra’s development plans and the next steps towards potential commercial partnerships.
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