[SMM Aluminum Flash News] SAGA Acquires Wolverine REE Project to Expand Portfolio

Published: Apr 17, 2026 11:41

Save

SAGA Metals will acquire the Wolverine rare earth project in Labrador, Canada, gaining full ownership of the asset. The project covers over 230 sq. km and hosts near-surface mineralization with bastnäsite, monazite and allanite, with mid-20% heavy rare earth share. Early drilling shows grades above 1% TREO in some areas, indicating development potential. The deal includes 4.25 million shares and USD 1 million in cash, with additional milestone payments. The company said the move will expand its portfolio and support supply chain needs in energy and defence sectors.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

Copper and Aluminum "Duo" Drive LME Metal Index to Record High, Aluminum Industry "Black Hole" Descends!

10 hours ago

12 hours ago

Aluminum Prices Stay High, Downstream Price Acceptance Remains Weak [SMM Spot Aluminum Midday Review]

12 hours ago

13 hours ago

Aluminum Alloy 2606 Futures Decline, Spot Prices Stable Amid Weak Demand

[SMM Aluminum Alloy Daily Review] Futures side, the most-traded aluminum alloy 2606 contract opened at 24,140 yuan/mt today, rose to a high of 24,245 yuan/mt during the session before weakening, hitting a low of 23,935 yuan/mt, and finally closed at 24,040 yuan/mt, down 115 yuan/mt from the previous close, a decline of 0.48%. Spot side, ADC12 market prices remained largely stable today. The upward momentum in primary aluminum prices slowed, weakening cost-side drivers. Meanwhile, downstream demand remained persistently weak, with purchases mainly driven by rigid demand. Against the backdrop of ample low-priced supply and intensifying price competition, enterprises generally lacked the motivation to raise their quoted prices. However, purchase activities by futures-spot traders provided som

13 hours ago