Rare earth prices may continue to show a weak trend in the short term

US mineral sands producer Atlantic Strategic Minerals (ASM) announced the completion of the feasibility study (FS) for its monazite project, confirming the technical feasibility and a fast track to production for constructing a domestic rare earth processing facility. The study shows that, in its initial phase, the project will build a demonstration plant that utilizes existing by-product streams to produce 1,000 mt of monazite concentrates annually, providing an immediate domestic source of rare earth raw material. Through further expansion and processing of third-party raw materials, capacity can be increased fivefold to approximately 5,000 mt per year. The company stated that the monazite project is built on existing operational foundations, and the demonstration plant can be developed and commissioned within approximately 12 months.

Canadian International Trade Minister Sidhu Maninder revealed in an interview that Ottawa and Tokyo are negotiating cooperation options, including joint mining projects, offtake agreements, and joint stockpiling for minerals such as graphite and gallium. "We are providing Japan with opportunities to develop Canada's critical minerals." He cited the graphite offtake agreement between Nouveau Monde Graphite and Panasonic as an example to illustrate this point, noting that graphite is a critical material for batteries. Sidhu is leading a large delegation to Tokyo, which includes nearly 300 representatives from 180 enterprises and organizations, marking the largest such mission by this North American country in the Asia-Pacific region. Japan and Western governments and manufacturers have been seeking secure supplies of rare earth minerals.

Nigerian officials have announced the country’s most significant critical minerals discovery in recent years, as Africa’s largest oil producer seeks to diversify its economy and position itself as a key supplier of materials needed for the global energy transition. Last week, at the African Natural Resources & Energy Investment Summit in Abuja, Nigeria announced the discovery of a new polymetallic ore field in Kaduna State, including high-grade deposits of platinum group metals, gold, nickel, lithium, and rare earths. The Minister of Solid Minerals Development, Dele Alake, described Kaduna as a “world-class” metallogenic province and one of the most significant advances in the country’s mining sector in recent years. The discovery was jointly made by private company Steron Mining and the Nigerian Geological Survey Agency (NGSA), and was later confirmed by NGSA.