[Overseas] A Processing Plant Of Canada’s Only Rare Earth Miner Goes Bankrupt

[SMM Rare Earth Daily Review: Rare earth prices show divergence, Pr-Nd stronger while medium-heavy rare earths weaker] Overall, due to limited downstream inquiries, the trading atmosphere in the rare earth market was sluggish. For Pr-Nd products, offer prices edged up slightly as upstream producers held prices firm and held back from selling, but actual transaction performance was not ideal. In the short term, amid the tug-of-war and stalemate between upstream and downstream, Pr-Nd product prices are expected to move sideways in a narrow range.

[SMM Rare Earth Flash News] Sinomine Resource Group announced that its controlling and wholly-owned subsidiaries plan to transfer 100% equity of African Lion Mining for $19.5 million, and will exit its Nkombwa rare earth-phosphate ore project in Zambia upon completion of the transaction. The mine holds a large-scale mining license covering approximately 1,850 hectares, granted in December 2024, with resource volumes including 2.78 million mt of rare earth oxide ore (average TREO grade of 2.76%) and 21.82 million mt of associated phosphate ore (average P₂O₅ grade of 7.06%). Under the agreement, the transaction consideration will be paid in three installments, with a pledge of the target company's equity and mining assets as performance security. Sinomine Resource Group stated that this sale represents the monetization of mining rights investment achievements and is expected to recognize a net profit attributable to shareholders of the parent company of approximately $9.84 million, positively impacting its operating performance and financial position.

[SMM Rare Earth Flash] Australian rare earth producer Lynas reported its April-June 2026 quarterly results, showing that its total rare earth oxide (TREO) production increased by 8% YoY, driven by capacity improvements at the Mount Weld mine in Western Australia, the Kalgoorlie processing plant, and the Kuantan refinery in Malaysia. However, affected by issues with the Mount Weld water circulation system and concentrate quality, Pr-Nd production for permanent magnets fell 11% YoY. These issues have since been resolved, and the company expects to return to full-capacity operations this quarter. In the same period, heavy rare earths dysprosium and terbium achieved production of 19 mt, marking their first commercial production. Driven by higher Pr-Nd prices, increased heavy rare earth sales, and product premiums, the average selling price of rare earth oxides rose 63% YoY to A$98.2/kg, pushing sales revenue up 70% YoY. In addition, Lynas has initiated client certification for samarium oxide and raised the investment budget for its heavy rare earth project in Malaysia. It plans to bring products including gadolinium, yttrium, and lutetium into production from 2027 to 2028.