US Rare Earths to Invest Over $203M in France for Rare Earth Expansion by 2030

South Korean company Posco International signed a non-binding memorandum of understanding (MOU) with Australia-based Meteoric Resources to purchase 30% of the mixed rare earth carbonate (MREC) output from its Caldeira project in Minas Gerais, Brazil, for a period of seven years. Meteoric stated on July 29 that Posco will consider acquiring an equity stake in the project and assist Meteoric in securing financing from South Korean export credit agencies, including the Export-Import Bank of Korea and Korea Trade Insurance, to ensure timely commercial production.

Belgian chemicals producer Solvay is investing up to €20 million ($23 million) in heavy rare earth separation at its La Rochelle plant in France, and expects to start industrial-scale production of dysprosium and terbium in the autumn. This expansion follows the production of magnetic material-grade Pr-Nd at the plant in April 2025. Solvay has already invested €10 million in the plant.

[SMM Rare Earth Weekly Review: Weak Demand Persists, Industry Chain Prices Drift Lower] This week, affected by news factors and futures fluctuations, Pr-Nd oxide prices overall remained in the doldrums. Some traders sold at low prices, and metal plants' purchase willingness was poor during the price decline. As of today, Pr-Nd oxide prices were adjusted down to 743,000-748,000 yuan/mt.