Arafura Extends Rare Earth Supply Deal with Wind Turbine OEM for Up to 8 Years

【SMM Rare Earth Flash】 Canadian critical minerals developer Leading Edge Materials has completed the second tranche of its private placement, bringing total funds raised to **C$4.3 million** (approx. US$3.1 million) toward a C$6 million target, with the remainder expected by September 25. Proceeds will fund pre-feasibility studies and environmental permitting for the Norra Karr heavy rare earth project in southern Sweden, as well as studies on a potential restart of the Woxna graphite mine and 12 months of working capital. Norra Karr was granted a 25-year mining concession on June 28. The eudialyte-hosted deposit has an Inferred Resource of 110 million tonnes at 0.5% TREO, with 52% HREO. According to a 2021 PEA, the project could operate for 26 years, producing an average of 5,340 t/y mixed rare earth oxides, including 248 t/y Dy₂O₃ and 36 t/y Tb₂O₃. The company targets production within approximately four years.

[SMM Rare Earth Daily Review: Rare earth prices remain stable, with subdued market trading activity] In the short term, with limited trading days remaining before the National Day holiday, downstream magnetic material enterprises have largely completed their pre-holiday stockpiling, making it difficult for incremental transactions to enter the market in the near term. The Pr-Nd series is likely to consolidate sideways with a stable price center as the main tone. If sporadic replenishment orders emerge before the holiday, quotes may receive slight support, but given the weak willingness of downstream buyers to enter the market, the upside is equally limited. On the medium-heavy rare earth side, terbium, dysprosium, gadolinium, holmium, and erbium varieties lack independent drivers and are expected to remain stable before the holiday, with the broader market likely to maintain a narrow sideways trend.

【SMM Rare Earth Flash】 Volta Metals reported latest drilling at Sturgeon Falls, Ontario. Hole SL26-28 intersected 214.5m at 0.80% TREO, including 75m at 1.02%, 13.5m at 1.63%, and 1.5m at 7.37% TREO with 0.02527% Ga₂O₃ and 1.0579% Nd₂O₃. Hole SL26-34 returned surface heavy REE mineralization of 1.65m at 1.15% TREO, with HREO accounting for 19.5%. Gallium was intersected in all three holes but not included in current resource estimates. The company plans 5,452m of drilling in 2026 and a resource update for the Springer deposit in Q1 2027. Previous estimates: 56.6Mt at 0.7% TREO (Indicated) and 119.5Mt at 0.58% TREO (Inferred), ranking among North America's top 10 rare earth deposits.