Australia’s Lynas, a leading rare-earths miner outside China, reported a half-year profit exceeding expectations, boosting its shares by 2.6% to A$5.99. Despite facing a challenging market with weak commodity prices and slow demand from China, Lynas posted a net profit of A$39.5 million for the six months ending December 31, surpassing the consensus estimate of A$25.7 million by Visible Alpha....
Rare_Earth news
Central Asia’s Untapped Wealth: Kyrgyzstan and Tajikistan’s Rare Minerals
In the rugged terrains of Kyrgyzstan and Tajikistan, beneath the surface of these two Central Asian nations, lies a treasure trove of critical raw materials (CRMs) that could significantly alter their economic landscapes. These CRMs, vital for the production of high-tech products like smartphones, electric vehicles (EVs), and renewable energy technologies, have caught the attention of the global market, particularly...
Iluka Resources Faces Cost Overruns at Eneabba Rare Earths Refinery
Iluka Resources, a company specializing in critical minerals, has confirmed that its Eneabba rare earths refinery project in Western Australia is facing significant cost overruns. The projected cost is now estimated to be between A$1.7 billion (approximately $1.105 billion USD) and A$1.8 billion (approximately $1.17 billion USD), marking the upper limit of the previously forecasted range of A$1.5 billion to...
Ucore Rare Metals Receives Federal Boost for Rare Earth Mineral Processing
Ucore Rare Metals, situated in Kingston, has been awarded over $4.2 million from the federal government’s Critical Minerals Research, Development and Demonstration fund. This funding is set to expedite the company’s operations in processing rare earth minerals, which are crucial for the production of electric vehicle batteries, wind turbines, and other green technologies. Mike Schrider, Ucore’s Vice-President and Chief Operating...
Namibia’s Quest for Mineral Processing: A Path to Economic Diversification
Namibia, a beacon for mining investment in Africa, faces a pivotal moment in its economic trajectory. Despite its rich deposits of critical minerals, including diamonds, magnesium, zinc, and notably lithium and rare earth elements (REEs), the country’s ambition to refine its own minerals is hampered by a lack of necessary infrastructure. Mining significantly contributes to Namibia’s economy, accounting for 12%...
Weekend Digest (Feb 3-4)
Uganda Grants Mining License for Prominent Makutu Rare Earth Project Ionic Rare Earths has secured a mining license from the Ugandan government for the Makutu rare earth project, poised for a final investment decision later this year. Assuming successful construction, the venture is anticipated to commence production by 2026. Situated 40 kilometers east of Jinja and 120 kilometers from Kampala,...
Vietnam’s Rare Earths Production Declines as China’s Output Increases
The U.S. Geological Survey (USGS) has significantly reduced its estimates for Vietnam’s rare earths production, forecasting further decreases despite the country’s abundant resources. This revision contrasts with an increase in production by China, the leading global producer. The adjustments in production estimates come after the Vietnamese authorities arrested corporate executives involved with Western companies in developing rare earths mining projects...
Rosatom Acquires Major Stake in Solikamsk Magnesium Plant, Bolstering Russia’s Rare Metals Production
The Russian government has officially transferred a significant 89.5% stake in the Solikamsk Magnesium Plant (SMZ) to Rosatom, the state nuclear energy corporation. This strategic move, completed on January 22, is part of a broader effort to consolidate Russia’s position in the rare earth metals and magnesium production sectors. Located in the Perm Region, SMZ is a key player in...
Astron Corporation and Energy Fuels Join Forces for Donald Rare Earths Project
Strategic Partnership Aims to Develop Victoria’s Rare Earth Resources Astron Corporation has announced a significant collaboration with Energy Fuels, a major player in the rare earths and mineral sands sector, through a non-binding memorandum of understanding. The partnership aims to jointly develop the 2.6 billion-tonne Donald rare earths and mineral sands project located in Victoria. Investment and Production Prospects Under...
Turkey Set to Join Top 5 Global Rare Earth Producers
Eskişehir Facility to Elevate Turkey’s Mining Industry Turkey is poised to become a leading producer of rare earth elements with the completion of its industrial facility in Eskişehir, as stated by Energy and Natural Resources Minister Alparslan Bayraktar. This development positions Turkey among the top five global producers, marking a significant leap in the mining sector. Rare Earth Reserves Discovery...