Neo Performance Materials Expands European Magnet Business, Explores Heavy Rare Earth Separation Project

[SMM Rare Earth Permanent Magnets News Flash] Affected by the continuous decline in upstream raw material prices, rare earth permanent magnet external quotations were lowered today after a short period of stability. As of 11:30 AM today, mainstream magnetic material manufacturers' quoted prices were calculated in the range of 870,000-900,000 yuan/mt, with significant differences among different magnetic material manufacturers. Motor clients may continue to monitor subsequent prices based on their own circumstances and purchase as needed.

Aldoro Resources made new progress in drilling at the Kameelburg niobium-rare earth-strontium project in Namibia. Key intercept results included: 503.98 meters of mineralization from surface, with grades of 1.3% total rare earth oxides (TREO), 4.01% strontium, 0.17% niobium (Nb2O5), and 0.019% molybdenum, indicating pervasive mineralization across the eastern limb of the carbonatite body. Aldoro considered this intercept "one of the best intercepts" for the project. The deeper extent of the Kameelburg ore body remains open at depth.

As global interest in rare earth surges, Brazil is seeking new areas that could increase its rare earth reserves. The Geological Survey of Brazil (SGB) recently promoted the evaluation of new mineralization zones with rare earth potential in the country. The SGB, under Brazil's Ministry of Mines and Energy, studied the rare earth exploration potential in the states of São Paulo, Paraná, and Santa Catarina. Fieldwork was conducted in the following locations: Itupeva, Alumínio, Morungaba, Capão Bonito, Juquiá, Jacupiranga, Cajati, Itapirapuã Paulista, and Cananéia in the state of São Paulo; Cerro Azul, Castro, Carambeí, and Tijucas do Sul in the state of Paraná; and Joinville and Garuva in the state of Santa Catarina.