Supra Elemental Recovery Secures $2M, Launches Gallium-Scandium Recovery Project

[SMM Rare Earth Weekly Review: Rare Earth Prices Saw Relatively Small Fluctuations, While Downstream Procurement Demand Remained Weak] The Pr-Nd oxide market was relatively calm this week. Demand from downstream metal plants was sluggish, but upstream supply also remained tight. Suppliers were unwilling to make shipments at low prices, and the back-and-forth negotiations between upstream and downstream remained in a stalemate. Pr-Nd oxide prices saw small fluctuations to 710,000-715,000 yuan/mt.

US rare earth producer Energy Fuels announced that its White Mesa mill in Utah has successfully produced its first batch of terbium oxide with a purity of 99.9. This marks the first time in decades that the US has produced this heavy rare earth element from primary mineral raw materials, using monazite mined in Florida and Georgia. The company had previously trial-produced dysprosium oxide at the facility and is expected to expand heavy rare earth capacity in the coming years. It is estimated that upon completion of the second-phase expansion in 2029, the White Mesa mill will have the annual capacity to produce dysprosium oxide (288 mt), terbium oxide (80 mt), and Pr-Nd oxide (6,000 mt), supporting the development of a domestic rare earth supply chain in the US.

Australia's Lynas Rare Earths announced that it intends to supply rare earth oxides to the rare earth metal plant being built by South Korea's LS Eco Energy in Vietnam, with priority given to samarium production. If the cooperation is ultimately finalized, Lynas will use this to expand its product lines of Pr-Nd alloy and heavy rare earth products such as samarium, dysprosium, and terbium. Lynas is currently the only commercial producer outside China capable of separating samarium, terbium, and dysprosium. The preliminary agreement between the two parties also involves each subscribing to convertible bonds worth about AUD 30 million.