Ucore Rare Metals Produces High-Purity Pr-Nd Samples Using RapidSX™ Technology in Ontario Facility

[SMM Rare Earth Flash] The Australian government recently escalated its scrutiny of investors linked to China in rare earth developer Northern Minerals. This May, Australian Treasurer Jim Chalmers ordered six China-linked shareholders to sell their combined holdings by July 2, citing national security concerns. After the shareholders failed to comply, the government froze part of the shares in July and imposed new conditions on Qogir and Real International Resources in August, requiring government review of any share sales. Northern Minerals is developing the Brown Ranges heavy rare earth project in Western Australia, which it says could become an "important cornerstone" of dysprosium and terbium supply outside China. The project has previously received up to $250 million in debt financing from Australia's export finance agency and the US Export-Import Bank, but shareholder disputes have hindered negotiations with US government financing agencies.

The Greenland government has approved the transfer of the exploration license covering the Sarfartoq rare earth project to Greenland Mines, a company listed in the US, clearing a key obstacle for its acquisition of the asset from Canadian enterprise Neo Performance Materials.