Proterial to Invest $225M in Rare Earth Magnet Plant in Andhra Pradesh, India

[SMM Comment: New National Standard Implementation Combined with Tightening Tax Compliance Accelerates Rare Earth Scrap Recycling Industry from "Chaos" to "Order"] On July 1, GB/T 46992-2025, "Technical specification for classification and comprehensive utilization of recyclable rare earth secondary resources," officially came into effect. The standard systematically classifies rare earth secondary resources into nine major categories for the first time and innovatively designs a three-level "SRRE" coding system. Together with GB/T 23588-2020, "NdFeB production and processing recycled materials," they form a complementary framework—the latter provides detailed technical specifications for the single NdFeB category, while the former offers a management framework covering all categories. Both standards are now in effect simultaneously, marking a new stage of systematic management for rare earth secondary resources.

A listed mine development company, Amaroq, has commenced drilling at the Ilua pegmatite rare earth project, located in Greenland, marking the initial launch of the company's 2026 exploration activities. This drilling represents the next phase of evaluation for one of Greenland's emerging conventional rare earth targets, Amaroq states. The 2026 plan aims to test three initial exploration drill targets distributed across the Ilua pegmatite belt, a prospective conventional Amaroq-hosted system with a strike extent of at least 5 kilometers.

[SMM Rare Earth Weekly Review: Pr-Nd Prices Surge, Medium-Heavy Rare Earth Market Prices Relatively Stable] This week, Pr-Nd oxide prices held up well overall. Driven by large-scale purchases and the arrival of the peak season, bullish sentiment in the market strengthened significantly. Downstream procurement inquiries also improved in activity, and suppliers raised their quoted prices. As of today, the price of Pr-Nd oxide was raised to 750,000-755,000 yuan/mt.