India Aims to Boost Rare Earth Magnet Production to 5,000 mt by 2030, Reducing Import Dependence

Today, after holding steady for three consecutive working days, the price of Pr-Nd oxide was raised to 720,000-725,000 yuan/mt, affected by fluctuations in futures prices. Metal producers still maintained a cautious attitude in procurement, with a clearly stronger tendency to push for lower prices in inquiries, and no transactions at high prices had emerged so far.

Cobalt Blue and Glomar Minerals have formed a consortium to jointly advance the U.S. critical minerals processing initiative known as Project Infinity. The two parties will integrate Glomar Minerals’ marine mining licenses and deep-sea mineral extraction capabilities, together with Cobalt Blue’s proven critical minerals metallurgical processing technologies and patented intellectual property. They plan to construct a polymetallic nodule processing facility in the United States with an annual throughput of approximately 200,000 tonnes. Polymetallic nodules are abundant resources containing cobalt, manganese, nickel, copper, rare earth elements, titanium and multiple other metals, enabling the output of a wide range of mineral products from a single raw material source.