US Negotiates Heavy Rare Earth Processing with Brazil to Strengthen Critical Mineral Supply Chain

The Chicago Mercantile Exchange (CME), the world’s largest derivatives exchange, is considering the launch of the world’s first rare earth futures contract, Reuters reported on 12th (local time). According to the report, CME is preparing a futures contract linked to neodymium–praseodymium (NdPr), a key rare earth alloy used in high-performance permanent magnets for electric vehicles and wind turbines.

UK-based junior exploration company Altona Rare Earths has revealed that the US Trade and Development Agency (USTDA) has agreed to support its Monte Muambe rare earth project in Mozambique. Altona stated that USTDA will provide technical and financial support for the development of the Monte Muambe project, assisting it in achieving the production of rare earth elements.

Victory Metals has achieved a breakthrough in processing tests at its Northern Stanmore heavy rare earth project in Western Australia, successfully recovering the niche critical metal hafnium. Gravity separation tests increased the hafnium grade by 26 times, from 4 ppm to 108 ppm, with a recovery rate of 66%, and eliminated 97% of waste rock prior to recovery, significantly reducing ore beneficiation costs and operating expenses. Hafnium has a high melting point of 2,233°C and is corrosion-resistant, making it suitable for national defense and nuclear industries. Current global annual consumption is less than 100 mt, while its price has doubled within a year to $11,000/kg, with supply concentrated in China and Russia.