Louisiana Approves Tax Exemption for Aclara's Rare Earth Separation Plant, Saving $20.8M Over Five Years

[SMM Rare Earth Express] Australian mineral sands producer Iluka Resources announced it has secured a confirmed A$1.65 billion (approximately $1.15 billion) non-recourse loan from Export Finance Australia (EFA) to develop the Eneabba rare earth refinery in Western Australia, the country's first fully integrated rare earth refining facility. The project is now over 50% complete, with the first A$1.25 billion drawdown expected by the end of 2026, when construction is forecast to reach 75% and commissioning is planned to commence in mid-2027. Meanwhile, Iluka has signed a binding four-year offtake agreement with a major global automaker to supply magnetic rare earth oxides—including neodymium, praseodymium, dysprosium, and terbium—starting in 2028, covering approximately 10% (around 1,200 mt) of planned production.

[SMM Rare Earth Express] The Ministry of Commerce issued an announcement on June 29, stating that in accordance with the Export Control Law of the People's Republic of China and other laws and regulations, and to safeguard national security and interests as well as fulfill international non-proliferation obligations, it has decided to include 20 entities, including the Defense Research Institute, that are involved in enhancing Japan's military capabilities, on the export control list. Effective immediately, export operators are prohibited from exporting dual-use items to the above-mentioned entities, and organizations and individuals from any country or region are prohibited from transferring or supplying dual-use items originating from China to these entities. Under special circumstances where export is genuinely necessary, an application must be submitted to the Ministry of Commerce. A spokesperson for the Ministry of Commerce stated that this move aims to resolutely curb Japan's reckless moves of "new-type militarism." The entities on the list include the Defense Research Institute, the Ground Equipment Research Institute, the Ship Equipment Research Institute, the Aviation Equipment Research Institute, as well as several enterprises such as Mitsubishi Electric Defense and Space Technology Co., Ltd. and Mitsubishi Heavy Industries Marine Technology Co., Ltd.