Dominican Republic Advances Rare Earth Project, Aims to Announce Reserves by 2027

Nasdaq-listed enterprise Critical Metals announced that its patent-pending process can dissolve more than 99% of the minerals in eudialyte concentrates from the Tanbreez project in Greenland and recover 19 ultra-high-purity rare earth and critical metal products. Eudialyte is a rare red or pink silicate ore and a major industrial source of zirconium, hafnium, and heavy rare earth elements. Tanbreez, located at Killavaat Alannguat in southern Greenland, is regarded as one of the largest undeveloped heavy rare earth assets outside China. The company plans to build a proposed refinery in Romania with an annual output value of $2.2 billion, using this patented process. Under current terms, the proposed Romanian refinery is expected to receive 50% of total concentrates production, with a designed annual processing capacity of 100,000 mt of eudialyte concentrates, producing approximately 27,943 mt of rare earth and critical metal products per year (in forms such as chloride salts) based on the current model. Current preliminary capital expenditure is estimated at $1.85 billion, with annual revenue of approximately $2.2 billion (before deducting operating costs, taxes, and capital recovery), and a payback period of about two years.

Brazil's president signed a critical minerals bill into law on Wednesday without any changes, creating the country's first framework for the sector. "This is a declaration of economic independence and political courage by a nation that does not bow to external threats," Mines and Energy Minister Alexandre Silveira said at the ceremony. Critical minerals have risen to prominence on Brazil's public and political agenda over the past year, with the US expressing interest in signing a cooperation agreement with Brazil, in addition to acquiring rare earth producer Serra Verde for $2.8 billion in April.

AuKing Mining's initial drill sample analysis results from the Tundulu rare earth mine in southern Malawi not only exceeded expectations but also encountered "exceptionally enriched heavy rare earth." The most notable result from the initial sample analysis was an intersection of 91 meters at a depth of 40 meters, with total rare earth oxide (TREO) of 1.51%, including a 15-meter-thick ore body grading 3.4%. Additionally, an 80-meter intersection starting from the surface had a TREO grade of 1.54%, including an 11-meter-thick ore body grading 4.33%. The heavy rare earth-yttrium (HREE-Y) ore section grades were "exceptionally high."