US Defense Dept Commits $500M Loan to Phoenix Tailings for Rare Earth Processing Facility

[SMM Rare Earth News Flash] Recently, the key R&D plan project of the autonomous region—"Research on Integrated Information Prospecting Prediction and Exploration Demonstration of Ion-Adsorbed Heavy Rare Earth Ore in Guangxi Based on Artificial Intelligence"—led by the Guangxi No. 274 Geological Team and implemented in conjunction with the Institute of Mineral Resources, Chinese Academy of Geological Sciences, was officially launched in Nanning. As one of the main producing areas of ion-adsorbed rare earth ore in south China, Guangxi has abundant rare earth resources but insufficient exploration accuracy. The project will rely on the geological data and exploration experience of the Guangxi Bureau of Geology and Mineral Resources and, with the help of artificial intelligence technology, construct a multi-source heterogeneous information fusion model, focusing on breaking through the bottleneck of spatial positioning accuracy of heavy rare earth orebodies. After the project launch meeting, the team went to a typical mining area to conduct the first phase of joint field reconnaissance.

[SMM Rare Earth Update] Australian mineral developer Arafura Rare Earths announced on June 30 that it has signed a binding offtake term sheet with a member of an Indian industrial group, under which it will supply 500 mt per year of Pr-Nd, dysprosium, and terbium oxides from its Nolans project in the Northern Territory, for an initial term of five years, with an option to extend for two years. The agreement is conditional upon the offtaker being formally designated as a beneficiary of the Indian government’s $815 million rare earth permanent magnet plan. The Nolans project is designed to produce 4,400 mt per year of Pr-Nd oxide and 470 mt per year of mixed medium-heavy rare earth oxides, with a mine life of at least 38 years, and can meet approximately 4% of global Pr-Nd demand. Combined with previously signed agreements with Hyundai, Siemens, and others, Arafura has now locked in 4,070 mt/yr of capacity (83.6%), with the remaining 370 mt/yr planned to be sold on the spot market.

[SMM Rare Earth Express] High-performance magnet manufacturer Arnold Magnetic Technologies announced a multimillion-dollar second-phase investment in its plant in Amata City, Chonburi Province, Thailand, adding samarium cobalt (SmCo) magnet production, forming, and finishing capabilities. The plant, which started production in October 2024, has obtained ISO 9001 and AS9100 certifications. Construction of the second phase has already begun and is expected to be fully operational by mid-2027, at which point the company’s overall magnet capacity will double. The expansion will ease capacity pressure at its Swiss plant, shorten delivery lead times, and enhance the resilience of the global permanent magnet supply chain.