European Resources Expands Korsnäs Mineral Resource, ANSTO Reports High Rare Earth Recovery Rates

[Oxides weaken slightly while medium-heavy rare earths stay firm; scrap circulation tightens, leading to a trading stalemate] Yesterday, NdFeB blank quotes temporarily held steady. The core reason was that stable raw material prices supported the stability of blank quotes. Regarding trading, as the off-season sets in, the production pace of end-users and motor factories is gradually slowing down. The release of rigid demand orders was moderate, while large-scale restocking orders have yet to be effectively released, resulting in a generally lukewarm overall NdFeB market trading volume.

Dateline Resources has achieved strong results from the first round of rock chip sampling at its district-scale Music Valley heavy rare earth project in California, with one sample returning a total rare earth oxide (TREO) grade of up to 7.13%. The company stated that the exploration model was strongly validated, as all 33 samples collected from surface showed anomalous rare earth grades, confirming the widespread presence of mineralization and highlighting multiple targets within the 20,000-acre large project area. These results provided the first geochemical validation of targets generated by Dateline's recent high-resolution airborne magnetic and radiometric surveys.

According to Malaysian media reports, news emerged on July 17 local time that the Special Select Committee on International Trade and International Relations of the Malaysian Parliament issued a statement saying that the committee is currently reviewing the rare earth supply agreement signed between Australian rare earth enterprise Lynas and the US, with the review focusing on whether this agreement will impact Malaysia's foreign policy and strategic mineral sector. It is reported that Lynas signed a binding letter of intent earlier this year, agreeing to supply rare earth oxides to the US Pentagon within four years.