Minmetals Rare Earth’s Net Profit Soars in H1 2017

ASX-listed Brazilian Rare Earths (BRE) has successfully commissioned its Phase 1 metallurgical pilot plant in Camaçari, Brazil, producing the first batch of rare earth concentrates. The plant will be used for metallurgical test work required for feasibility studies on the Monte Alto rare earth mine and the proposed Camaçari smelting hub. BRE stated that it has secured joint investment and technical support for the Phase 2 hydrometallurgy plant, which is planned to commence production in Q2 2027. While Phase 1 will provide data to support process design refinement, equipment selection, and cost estimation, the Phase 2 pilot plant will expand the metallurgical program through hydrometallurgical extraction and separation to produce Pr-Nd oxide, heavy rare earth concentrates, and uranium yellowcake. Specifically, the Phase 2 pilot plant will test and validate recovery rates and commercialization pathways for uranium, scandium, niobium, titanium, and tantalum, assess the potential to reduce unit costs, evaluate lowering net unit costs to below $21 per kg of Pr-Nd equivalent as modeled in the scoping study, and expand cost advantages.

[SMM Analysis: August Rare Earth Ore Imports Down 42% MoM, Thorium Ore Imports Up 67% MoM Against the Trend] According to the latest data from the General Administration of Customs, in August 2026, China's rare earth ore imports were 1,034 mt, down 42% MoM from 1,787 mt in July, but up 3,127% YoY from 32 mt in the same period last year. Thorium ore and concentrates imports were 2,793 mt, up 67% MoM from 1,668 mt in July, and down 3% from 2,882 mt in the same period last year. On a cumulative basis, rare earth ore imports in January-August 2026 totaled 8,469 mt, down 64% from the same period in 2025. Thorium ore and concentrates imports totaled 41,486 mt, basically flat YoY.