Northern Stanmore Rare Earth Mine in Western Australia Rich in Hafnium

Rare earth developer Critical Metals Corp. (Critical Metals) approved $30 million in funding to accelerate development of its Tanbreez rare earth project in Greenland. Tanbreez is one of the world’s largest known rare earth deposits. The company said the funding would be used to advance drilling, infrastructure, engineering design, and mineral processing and metallurgical testing required for production. The move came as the US and its allies were building supply chains for critical minerals essential to electronics, national defense, and clean energy technologies.

US rare earth company REalloys announced that it is partnering with the Saskatchewan Research Council (SRC) of Canada to build a heavy rare earth metal facility. The equipment will be built at SRC’s Saskatoon plant and, after commissioning, relocated to Ohio to supply dysprosium and terbium to clients in the US defense industrial base and to the Defense Logistics Agency’s strategic reserves. The facility will cost $40 million and is expected to produce 30 mt of dysprosium metal and 15 mt of terbium metal annually. Initial operations are targeted for early to mid-2027, with full commercial operations expected from mid-2027 to year-end.

This afternoon, quotations for Pr-Nd oxide further recovered, with current mainstream offers from suppliers concentrated in the range of 800,000-805,000 yuan/mt. Some plants disclosed that there had already been a small number of transactions for Pr-Nd oxide in the market at 802,000-803,000 yuan/mt, while the actual transaction price of Pr-Nd alloy was within the range of 990,000-1 million yuan/mt. In contrast, quotations in the medium-heavy rare earth market remained stable, with no significant fluctuations.