SMM Breaking News: Iluka Partners with RareX for Kenya's Mrima Hill Rare Earths Project

[SMM Rare Earth News Flash] ASX-listed Lindian Resources announced significant progress in the construction of its Kangankunde rare earth project in Malawi. Civil and foundation works for the beneficiation plant have commenced, and infrastructure construction including the 30,000-volt power line and transport roads continues to advance. The project remains on track as planned, with front-end commissioning expected in October and first production targeted for Q4 2026.

[SMM Rare Earth News Flash] US rare earth producer MP Materials reported Q1 2026 results: Pr-Nd oxide production was 917 mt, up 63% YoY; sales were 1,006 mt, including the first shipment to its newest US client. During the same period, the company produced nearly 13,000 mt of rare earth oxides. The company expects the actual Pr-Nd oxide price in Q2 to be approximately $90/kg, but its public-private partnership with the US Department of National Defense will cover the gap to the $110/kg lowest price. Q1 revenue was $91 million, with losses narrowing to $8 million.

[SMM Rare Earth News Flash] American Rare Earths (REA) completed a traditional IPO outside China on May 6, listing on the NYSE American exchange at an offering price of $19 per share for approximately 3.33 million shares, raising approximately $63.3 million and achieving a market capitalization target of $368 million. The company focuses on heavy rare earth projects essential for national defense and permanent magnets, including the Shilo project in Georgia, US, and the Alfa project in Brazil.