Iluka Resources and RareX Shortlisted for Kenya's Mrima Hill Rare Earth Mine Project Bid

[SMM Rare Earth Daily: Rare Earth Prices Continue in the Doldrums, Inquiries Recover but Gains Limited] Overall, inquiry activity in the Pr-Nd market has improved somewhat, but downstream magnetic material enterprises are still mainly restocking for rigid demand and have low acceptance of high-priced metals, which has led to a modest recovery in Pr-Nd product prices that nonetheless remain in the doldrums compared with yesterday morning. In the short term, affected by the stalemate between trading parties, Pr-Nd product prices may consolidate within a narrow range.

Meteoric Resources Ltd (ASX: MEI) announced a strategic partnership with POSCO International to advance its rare earth project in Brazil, including the potential supply of up to 30% of Caldeira's output to POSCO, as well as collaboration on project financing. A non-binding memorandum of strategic partnership was signed with POSCO International Corporation. POSCO may secure supply of up to 30% of Caldeira's rare earth materials over a potential term of up to seven years.

Toronto-listed rare earth developer Aclara Resources has been selected by the US Department of Energy (DoE) as a recipient of federal funding to advance AI-driven processing of heavy rare earths. The DoE’s Genesis Mission Initiative (GMI) aims to develop AI technologies to optimize domestic rare earth separation processes, and the success of the first-phase project will help the second-phase project secure additional federal funding. Aclara’s first-phase project, named “AI-Enabled Process Optimization for Multi-Feed Rare Earth Separation”, seeks to apply AI to optimize the analysis of rare earth elements from multiple raw material sources, improve process efficiency, product quality and operational stability, while accelerating the commercialization of domestic rare earth processing technology.