Lynas Plans Global Rare Earth Supply Chain Expansion, Seeks New Agreements Amid Western Diversification Efforts

[SMM Rare Earth Bulletin] Recently, the Ministry of Natural Resources issued exploration licenses for two rare earth ore areas—Xiaochenkeng in Xinluo District, Longyan City, and Dapingli in Wuping County. This marks the first time in nearly 10 years that Fujian Province has transferred rare earth prospecting rights through an agreement-based approach, signaling substantive progress in the exploration, development, and utilization of rare earth ore in Longyan City, and providing mineral resource assurance for the city’s rare earth advanced processing and application industry. Centered on the development needs of the rare earth industry, the Longyan Municipal Bureau of Natural Resources proactively coordinated with the Ministry of Natural Resources, the Fujian Provincial Department of Natural Resources, and China Rare Earth Group, scientifically delineated rare earth exploration blocks, and steadily advanced the application work for prospecting rights. At present, the application work for prospecting rights in four rare earth ore areas—Zhongfang rare earth periphery in Changting County, Hexi in Yongding District, Zhongdu in Shanghang County, and Pengkou in Liancheng County—is being advanced in an orderly manner. Next, Longyan City will continue to promote the exploration, development, and utilization of rare earth ore, effectively transforming resource advantages into industrial and economic advantages.

[SMM Rare Earth Flash] The SMM survey showed that China’s NdFeB blank production in August was 313,000 mt, down 2.23% MoM. In August, affected by weather in China and the summer break, production pulled back MoM. It was expected that after a full return to work and production resumptions in early September, production would reach 33,108 mt, hitting the peak for the year.

[SMM Rare Earth Daily Review: Pr-Nd in the Rare Earth Market Was Under Pressure and Pulled Back; Medium-Heavy Rare Earth Ran Steadily] Overall, approaching the weekend, trading activity in the rare earth market was sluggish. Prices of Pr-Nd products were in the doldrums, while prices of medium-heavy rare earth products ran steadily, and actual transactions were in a stalemate. In the short term, affected by continued caution on the demand side and fluctuations in futures, prices of Pr-Nd products may maintain a sideways pattern; with limited follow-up on inquiries, prices of medium-heavy rare earth products may continue to run steadily.