Greenland Approves Critical Metals' Rare Earth Mine Permit Until 2050, CEO Hails Milestone

Rare earth trading slowed during China’s National Day holiday. Ample pre-holiday stocks and weak demand may weigh on oxide prices. Metal and magnet prices held steady. The market is quiet, awaiting Q4 peak-season demand in mid-October.

【SMM Rare Earth Flash】 Toronto-listed rare earth developer Aclara Resources is expanding the scope of its proposed Louisiana separation facility, Project Dynamo, to include yttrium, gadolinium, and samarium alongside the original PrNd, Dy, and Tb. The company has installed additional solvent extraction units at its pilot plant at Virginia Tech Corporate Research Centre, doubling both scale and technical staff, to validate separation of these elements from ion-adsorption ores in Chile and Brazil. CEO Ramon Barua noted yttrium accounts for 50% of rare earths at the Penco project in Chile and 30% at Carina in Brazil, with Western nations heavily import-dependent. This expands the supply chain from permanent magnets to power generation, aerospace, and AI infrastructure. The Penco project has secured environmental permits and is ready for construction once financing is obtained.

【SMM Rare Earth Flash】 Australian rare earth producer Lynas Rare Earths has announced an all-stock acquisition of Brazilian miner Meteoric Resources for A$968 million (approx. US$672 million). Under the agreement, Lynas will acquire all Meteoric shares at a fixed exchange ratio of 0.0207 new Lynas shares per Meteoric share, representing a premium of over 68% to Meteoric's last closing price. Upon completion, Lynas will gain Meteoric's Caldeira rare earth project in Brazil, potentially expanding its customer base as Western governments push for diversified overseas supply chains.