Canadian Miner Seeks $1.4M for Rare Earth, Titanium Project in Brazil

Malaysia is reviewing a supply agreement worth $96 million signed between Lynas Rare Earths and the US Department of Defense, after a parliamentary committee assessed whether the deal affects Malaysia’s stance in support of Palestine and its future rare earth policies. According to a previously issued statement, the Parliamentary Special Select Committee on International Relations and International Trade, chaired by Member of Parliament Wong Chen, convened on July 16 to discuss the role of the Australian company Lynas in the US defense supply chain. The committee heard submissions from government officials, non-governmental organizations, and senior executives of Lynas. The committee recommended that the government formulate a clearer foreign investment policy to protect Malaysia’s national interests and sovereignty, and clarify its position on this matter within two weeks. The committee said it called this meeting to examine and assess the impact of the supply agreement, which is allegedly affecting Malaysia’s long-standing stance in support of Palestine.

The US has surpassed Europe in investment in critical minerals, leaving the latter struggling to shake off its dependence. Citing analysis by the French Institute of International Relations, WSJ reports that over the past five years, the US has invested about $46 billion in critical raw material projects through grants, loans, and tax incentives—eight times the amount invested by the EU. The US is also negotiating prioritized development of mineral resources in countries such as the Democratic Republic of the Congo and Ukraine, while supporting overseas projects through financing plans. WSJ says the US’s aggressive strategy has disrupted Europe’s plans. To secure a loan from the US Export-Import Bank, Pensana, a London-based rare earth developer working on the Longonjo project in Angola, has already moved a processing plant originally planned to be built in the UK to the US.

[SMM Rare Earth Daily Review: Rare Earth Prices Stable, Actual Transactions Insufficient] In summary, at this stage, downstream new orders are poor, and purchasing enthusiasm is low. Meanwhile, upstream suppliers have weak willingness to sell at low prices, with quotations remaining relatively firm. The tug-of-war between upstream and downstream persists, and overall prices remain stable. In the short term, affected by weak supply-demand fundamentals, Pr-Nd product prices may move sideways in a narrow range.