Significant Rare Earth Deposit Discovery in Sichuan Boosts Regional Reserves

At the “Rare Earth Leads the Future, Innovate to Win Lucheng” Baotou Rare Earth Future Industry Innovation & Entrepreneurship Competition, a centralized signing ceremony for settled projects was held, with 16 high-quality projects choosing to take root in Baotou and settle in the Baotou Rare Earth High-Tech Zone, becoming a fresh force driving the development of the rare earth future industry.

On August 13, 2026, India opened its REPM magnet subsidy bids (20 vying for 5 slots), but with only ~25% upstream NdPr self-sufficiency, zero commercial heavy-rare-earth capacity, a near-blank midstream magnet base, and multi-year auto-grade certification lead times, the policy clock runs far ahead of industrial reality. Demand is real and rising with EVs and motors, yet building the full chain will take a decade—potential is real, timing is early.

【SMM Rare Earth Flash】 Shenghe Resources (600392.SH) released its 2026 semi-annual report and the "2026-2028 Development Plan." In H1, revenue reached RMB 8.759 billion, up 41.76% YoY; net profit attributable to shareholders was RMB 887 million, up 135.24% YoY. Key overseas milestones: the Fungoni project in Tanzania commenced heavy mineral concentrate shipments in July, and the Tajiri project's roughing plant achieved stable production. By end-2025, the company acquired the world-class Ngualla rare earth project in Tanzania with 4.62 million tonnes of REO resources. Shenghe aims to become a global rare earth leader by 2028, targeting REO concentrate capacity of ≥30,000 t/y and recycling capacity of 15,000 t/y. The Ngualla project is targeted to complete construction by 2027 and reach commercial production by 2028.