SMM News: Northern Rare Earth and Bao Gang United Steel Raise Rare Earth Ore Transaction Price by 1.11% QoQ in Q2 2025

[SMM Rare Earth Flash] London-listed Pensana announced that construction of the Longonjo rare earth mine in Angola is progressing as planned, with a total investment of $250 million, targeting first commissioning and production of mixed rare earth carbonate (MREC) in 2027. The mine has a life of 20 years, with an initial annual output of 20,000 mt, expanding to 40,000 mt in the fourth year. The company is optimizing the heavy rare earth recovery circuit, targeting annual production of dysprosium and terbium exceeding 122 mt, and is expected to become one of the largest heavy rare earth producers in the Western world. Pensana has signed a non-binding memorandum of understanding with Toyota Tsusho for the potential off-take of up to 20,000 mt of mixed rare earth carbonate per year for five years. The project is also supported by offtake framework agreements with multiple partners.

[SMM Rare Earths Briefing] Aldoro Resources announced that the hydrometallurgical tests on its Kameelburg rare earth–strontium–niobium deposit in Namibia have yielded positive results. Using a direct acid leaching process at ambient temperature and pressure, the strontium extraction rate exceeded 99%, and the rare earth recovery rate reached 72%, without requiring crushing, roasting, or solvent extraction, significantly reducing development costs. Meanwhile, drilling has discovered high-grade niobium mineralization at the margin of the carbonatite, with an intersection of 170 meters showing total rare earth oxide grade of 0.81%, strontium at 3.21%, and niobium at 0.43%. The company stated that this process substantially lowers project risk and confirms Kameelburg as one of the most important undeveloped rare earth–strontium deposits globally.

U.S. rare earth developer U.S. Rare Earths (USAR) plans to invest more than $203 million in France by 2030 to expand capacity for rare earth element separation, metals, alloys and magnet manufacturing. USAR said on Monday this expansion builds on French initiatives, including the LCM rare earth metal and alloy production facility in Lacq, an investment in Carester SAS, and investment from European private investment platform InfraVia Capital Partners.