Pr-Nd Oxide Price Rises to 720,000-725,000 Yuan/mt Amid Futures Fluctuations

[SMM Rare Earth News] US critical minerals developer Critical Metals (CRML.US) signed a letter of intent on April 27 to acquire Australian Lithium (European Lithium) in an all-stock transaction valued at approximately $835 million. European Lithium held the remaining 7.5% equity in the Tanbreez project, and upon completion of the transaction, Critical Metals will obtain 100% control of the project. The project is one of the largest known rare earth deposits in the world, with total rare earth oxides of 28.2 million mt, containing over 27% heavy rare earth.

[SMM Rare Earth News Flash] To accelerate the development of Europe's domestic rare earth resources, the Norwegian government has officially taken over the planning of the Fen deposit located in the Telemark region in the south of the country, elevating the project's planning authority from the Nome municipal government to the national level. The Fen deposit is Europe's largest known rare earth deposit, with rare earth oxide resources of 15.9 million mt, an 81% increase from the 2024 assessment. Currently, developer Norwegian Rare Earths plans to commence production in H2 2031 and produce 800 mt of NdPr in 2032, which is expected to meet approximately 5% of the EU's demand.