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

[SMM Rare Earth Daily Review: Rare Earth Prices Diverge, Tug-of-War Between Upstream and Downstream Continues] Overall, affected by the intense tug-of-war between upstream and downstream, oxide market prices exhibited notable fluctuations, while the metal market, due to slightly sluggish inquiries, saw suppliers’ quotes remain relatively firm without obvious adjustments. In the short term, production cuts or shutdowns at some raw ore separation and scrap recycling plants are expected to weaken oxide suppliers' willingness to sell at low prices, which may push Pr-Nd product prices to drift higher amid consolidation.

【SMM快讯】法国稀土企业卡雷斯特（Carester）宣布与马来西亚Malaco Mining签署为期10年的战略合作协议，计划在霹雳州合资建设一座年处理能力约1.3万公吨的稀土分离厂。这是欧洲稀土企业首次大规模投资马来西亚稀土产业。根据协议，双方已完成吉兰丹州和霹雳州的稀土分离技术前期试验，未来合资工厂将生产钕、镝、铽等高性能磁体所需的稀土氧化物。双方还将共同开发“原地浸取”环保采矿技术，并寻求在马来西亚多个州属的种植园区域开展稀土开采。卡雷斯特承诺将承购部分精矿产品，供应其在法国的重稀土浓缩设施。

[SMM Flash] Malaysia's Parliamentary Special Select Committee on International Trade and International Relations will hold a hearing on July 16 to examine the $96 million rare earth supply agreement signed between Australia's Lynas Rare Earths and the US Department of Defense. Previously, more than 20 non-governmental organizations staged a protest rally near the Parliament building and submitted a memorandum to lawmakers, demanding the government stop Lynas from supplying rare earth oxides used in weapons manufacturing to the US Department of Defense. The hearing will invite representatives from the Ministry of International Trade and Industry, the Ministry of Foreign Affairs, and Lynas to attend, and its conclusions will be submitted to the government as a basis for formulating the national rare earth policy. This move indicates strong public concern in Malaysia over the use of rare earths for military purposes, which may influence the future direction of the country's rare earth industry policy.