Ramaco Resources to Supply Gallium, Germanium from Wyoming Brook Mine to Indium Corporation

US rare-earth-free magnet producer Niron Magnetics received a $150 million loan from the Shakopee Mdewakanton Sioux Community (SMSC) to advance its magnet factory in Sartell, Minnesota.

Australian-listed developer Viridis Mining and Minerals has raised up to $120 million and completed a definitive feasibility study (DFS) for its ion-adsorption rare earth ore project in Brazil, bringing the asset closer to a final investment decision. The equity plan includes $75 million from One Investment Management (OneIM), $40 million from institutional shareholders, and $5 million in accelerated loans from existing investors ORE Investments and Regia Capital. OneIM will hold a 9.9% stake.

American Rare Earths (ARE) and Novex plan to use raw materials from the Halleck Creek project in Wyoming to produce rare earth metals in the US, thereby building a domestic supply chain from ore to permanent magnets. The two companies signed a memorandum of understanding to advance the conversion of separated rare earth oxides into metals required for permanent magnets, and to study and design a US rare earth metal production facility. The two parties will primarily develop the Halleck Creek project in Wyoming, which is the deposit with the highest known rare earth oxide content in the US.