US Rare Earth Company Partners with Canadian SRC to Build $40M Heavy Rare Earth Metal Facility

The ex-China rare earth market this week exhibited a trend of "falling prices amid tight supply," with Pr-Nd oxide and metal prices generally marked down by approximately $5-10/kg. However, due to export controls and tightening supply, the premium on Chinese products outside China remained significant. Meanwhile, geopolitical rivalry and supply chain restructuring accelerated, with G7 finance ministers calling for urgent reduction of dependence on China and the establishment of recycling quota systems. On the capital front, Greenland Resources spent $35 million to acquire the high-grade Sarfartoq project to strengthen its magnetic material rare earth portfolio. Australia's Arafura officially finalised the final investment decision for the Nolans project. Combined with Brazil's launch of an antitrust investigation and Germany's Heraeus divesting its recycling business, these developments underscored the urgency of global decoupling and localization efforts.

Finnish metals producer Terrafame launched a pre-feasibility study to evaluate scandium recovery from its nickel and zinc production process at Sotkamo in eastern Finland. The company already produces battery-grade nickel, cobalt, and copper, and recovers uranium as a by-product from the same polymetallic ore. Scandium production would also be extracted from these existing hydrometallurgy circuits. The study is expected to be completed by the end of 2026, with a potential production target of 2029. If successfully developed, the project would make Terrafame the only scandium producer in Europe.