Harena Rare Earths to Evaluate Acquisition of California's Heavy Rare Earth and Uranium Assets

[SMM Rare Earth Weekly Review: Rare Earth Prices Rose Overall This Week, Market Trading Remained Stagnant] Pr-Nd oxide market prices continued to rise overall. Affected by futures price fluctuations, speculative news, and the superimposed impact of some upstream separation enterprises suspending production, suppliers continuously raised their quotations. Low-priced supplies tightened rapidly, and Pr-Nd oxide prices rose to 755,000-760,000 yuan/mt during the week.

[SMM Rare Earth News Flash] Australian company Lindian Resources raised approximately AUD 100 million through a placement to institutional investors and a strategic critical minerals fund. The proceeds will be used to advance the Kangankunde rare earth project in Malawi and complete the integration of the Sareco mixed rare earth carbonate plant in Kazakhstan. The company acquired a 51% controlling stake in the Sareco plant earlier this year, retaining exclusive sales rights, with the aim of building a vertically integrated rare earth platform. Both the Kangankunde rare earth project and the Sareco plant plan to commence production in Q4 this year.

[SMM Rare Earth News Flash] Australian company Arafura Rare Earths announced on April 1 that it had signed binding equity subscription agreements with Germany's KfW and Australia's Export Finance Australia (EFA). The two institutions will jointly invest approximately A$230 million (approximately $159 million) to develop the Nolans rare earth project in the Northern Territory. The project plans to supply 4,440 mt of Pr-Nd oxide per year from H2 2029, accounting for approximately 4% of global supply. Arafura has signed an offtake agreement with Siemens Gamesa and is actively seeking European offtake partners to secure an additional 500 mt/year of Pr-Nd oxide capacity.