Northern Minerals Advances $600M Rare Earth Project in Australia, Targets 8% Global Dysprosium and Terbium Demand

[Under Oxide Cost Support, Metal Prices Remain Firm; NdFeB Off-Season Dominated by Just-in-Time Procurement] Last week, NdFeB blank quotations were slightly raised. The core reason was that the increase in raw material prices drove up NdFeB prices. In terms of trading, entering the off-season, the production pace of end-users and motor factories gradually slowed down, just-in-time procurement orders were released moderately, while large-scale restocking orders have not been effectively released yet. Overall, the NdFeB market trading volume was moderate.

[SMM Rare Earth Flash] Brazilian rare earth developers Meteoric Resources and Viridis Mining & Minerals recently announced simultaneously that their project resources have been upgraded to 'Measured' status. Viridis' Colossus project has Measured ore resources of 31 million mt at a TREO grade of 0.2858%, while Meteoric's Caldeira project has Measured ore resources of 128 million mt at a TREO grade of 0.2815%. Both projects are located in the Poços de Caldas Complex in Minas Gerais, Brazil, and are considered one of the world's premier ion-adsorption rare earth ore belts. Both companies are currently advancing definitive feasibility studies and final investment decisions.