US DOE Selects Project to Extract Rare Earths from Bauxite Waste, Aims to Reduce Foreign Dependence

[Pr-Nd prices continue to rise, rare earth market transactions turn light but confidence remains strong] Last week, scrap market prices continued to be raised, mainly affected by the continuous raising of oxide offer prices. Recycling enterprises' external purchase offer prices also continued to be raised. However, with the implementation of the new national standard for rare earth recycling, suppliers' attitude toward shipments was more wait-and-see, and overall market trading was moderate.

This week, rare earth oxide and metal prices outside China remained largely stable amid sluggish trading, while price fluctuations in China had not yet been transmitted. Industrial developments were intensive: India’s Mecwin teamed up with Germany’s Fraunhofer to lay out the entire NdFeB industry chain; Sweden approved a 25-year lease for the North Kärr rare earth mine, and Namibia’s Kieshoehe project verified deep potential. Iluka obtained an Australian government loan to advance the Eneabba refinery, and ULVAC, driven by surging demand in Europe and the United States, planned to build a new melting furnace production line in Japan. U.S. and Australian enterprises achieved breakthroughs in high-purity rare earth refining and hard disk recycling technologies, while Canada and Japan actively promoted cooperation on the critical minerals supply chain.