St George Mining Reports 75% Resource Increase at Araxa Rare Earths Project in Brazil

【SMM News on March 4】Driven by rising domestic prices and international energy prices, overseas lanthanum-cerium oxide prices increased across the board. Lanthanum oxide FOB was assessed at $960-1,020/mt, up $30/mt; cerium oxide FOB was assessed at $1,883-1,967/mt, up $125/mt; and cerium oxide CIF (Port of Rotterdam) was assessed at $2,550-2,560/mt, up $135/mt. According to the SMM survey, this round of price increases was a normal market fluctuation and has not yet caused significant cost pressure on overseas buyers.

The US Defense Logistics Agency signed a contract with rare earth producer REalloys to support the development of next-generation thermal reduction technology for samarium and gadolinium metals. The core of the effort is to build a plant with an annual capacity of 300 mt to reduce mixed samarium–europium–gadolinium concentrates into high-purity metals. At present, the US has no commercial production of either metal and is heavily reliant on overseas supply. REalloys said its process can cut costs by 50% and has been patented. The move aims to establish domestic capacity and strengthen national defense supply chain security.

Neo Performance Materials of Canada and Cyclic Materials announced that they have reached a rare earth recycling agreement. Neo will supply Cyclic with magnet production scrap from its European plants, which Cyclic will recycle into mixed rare earth oxides for Neo to manufacture alloys and magnets. This move aligns with the objectives of the EU Critical Raw Materials Act and enhances rare earth processing and recycling capacity. Neo operates a 2,000 mt/year magnet facility in Estonia and is expected to expand it to 5,000 mt/year. Cyclic is building a recycling campus in South Carolina, with initial capacity of 2,000 mt/year for magnet processing and 600 mt/year for mixed rare earth oxides, which will increase to 6,000 mt/year and 1,800 mt/year, respectively, after expansion.