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Rare Earth Minerals News

US gives $50m boost to critical minerals investor TechMet

By: Bloomberg     1st December 2023 A US government agency has given investment firm TechMet an additional $50-million to support the company’s focus on critical minerals. The backing from the US International Development Finance Corporation brings its total investment to $105-million, and implies a valuation for TechMet of more... 

Lindian progressing Malawi project

By: Tasneem Bulbulia     1st December 2023 ASX-listed Lindian Resources has made “excellent” progress this year on mine development operations and the commissioning of the Stage 1 processing plant at the Kangankunde rare earths project in Malawi, executive chairperson Asimwe Kabunga says. Achievements this year are said to have... 

Greenfield investment lagging badly, mining’s contribution to economy halved 

By: Martin Creamer     1st December 2023 The growth of investment in fresh new greenfield mining projects is lagging badly and the contribution of the South African mining industry to the national economy has more than halved in the last two decades, Minerals Council South Africa’s latest Facts and Figures 2022 points out. Net fixed... 

Mining's net fixed capital formation, shown in blue, must be boosted.
Mining's net fixed capital formation, shown in blue, must be boosted.

Peak slashes costs at Tanzania rare earths project

By: Mariaan Webb     30th November 2023 Despite global inflationary pressures, Australia-listed Peak Rare Earths has successfully reduced its capital and operating cost estimates for the Ngualla project, in Tanzania. The project, which stands as one of the biggest undeveloped rare earths projects globally, is now forecast to cost 10%... 

An aerial view of Peak Resources Ngualla project.
An aerial view of Peak Resources Ngualla project.

India launches first part of critical minerals auction worth $5.4bn

By: Reuters     30th November 2023 India on Wednesday launched the first part of its critical minerals auction worth an estimated 450-billion rupees ($5.40-billion), the country's mines minister said. Mines Minister Pralhad Joshi said the auctions would be held in eight states, including Bihar, Chhattisgarh, Odisha, Tamil Nadu,... 

Ionic receives support towards mining licence grant in Uganda

By: Marleny Arnoldi     29th November 2023 ASX-listed Ionic Rare Earths Limited says its Ugandan subsidiary now has land access agreements in place for 95% of the mining licence area for the Makuutu rare earths project. Owing to support of the Ugandan government, the Makuutu mine is poised to become the country’s flagship rare earths... 

Godolphin applies to extend Narraburra REE foothold

By: Creamer Media Reporter      28th November 2023 Exploration company Godolphin Resources has applied for an exploration licence that surrounds its Narrabura rare earth project, in New South Wales, in three directions. The licence, named Trungley, surrounds Narraburra to the north, east and south, and has the potential to host northern... 

QREE buys more land near Lynx project

By: Creamer Media Reporter      28th November 2023 CSE-listed Quebec Rare Earth Elements (QREE) is buying additional lands abutting the Lynx rare earth elements (REE) project, in Quebec. The additional property abutting Lynx was acquired by staking and covers a further 2 542 ha for a total of 4 577 ha. 

New Utshalo has potential to boost mining IPOs, enliven public markets 

By: Martin Creamer     24th November 2023 South Africa has a pressing need to reawaken its public markets and the new Utshalo must be complimented for setting out to do just that. New mining capital raisings have become too few and far between, liquidity is drying up, and the delisting trend on the Johannesburg Stock Exchange (JSE) must... 

Former Nedbank investment banker Paul Miller.
Former Nedbank investment banker Paul Miller.

Angolan rare earth project construction progressing

24th November 2023 Magnet metals miner Pensana, continuing with the site development works for its rare-earth elements Longonjo project, in Angola, reported towards the end of August that it was progressing with site infrastructure development underway, in preparation for main construction. Being largely unaffected... 

An aerial view of load haul dump trucks carrying sand and rubble from the construction site of Pensana's Longonjo Mine in Angola
IN FOR THE LONG HAUL The construction at Pensana's Longonjo project in Angola will take the mine through to a projected life of 20 years

Investigating tailings dumps for in-demand minerals

24th November 2023 US State geology department the US Geological Survey (USGS) has invested more than $2-million into studying the potential to source critical mineral resources in mine waste such as mine tailings, as part of US President Joe Biden’s Bipartisan Infrastructure Law in cooperative agreements with 14... 

A scientist sieves a sample of tin placer tailings in Cassiterite Creek on the western Seward Peninsula of Alaska
CRITICAL ANALYSIS A scientist sieves a sample of tin placer tailings in Cassiterite Creek on the western Seward Peninsula of Alaska

Drilling at Ionic’s Uganda project shows extension potential

By: Tasneem Bulbulia     23rd November 2023 ASX-listed Ionic Rare Earths announces that initial drill results from the Phase 5 resource infill and extension drilling at its 60%-owned Makuutu heavy rare earths project, in Uganda, shows mineralisation extends at least 1.8 km west of current mineral resource limit on retention licence (RL)... 

African Rainbow Minerals provides R20-million for Wits University research 

By: Martin Creamer     23rd November 2023 Diversified mining company African Rainbow Minerals (ARM) is supporting postdoctoral research into water, energy and digitalisation at the University of the Witwatersrand (Wits) in Johannesburg. The investment is firmly located within the university’s mining precinct and dovetails with the... 

ARM founder and executive chairperson Dr Patrice Motsepe and Wits ARM Building.
ARM founder and executive chairperson Dr Patrice Motsepe and Wits ARM Building.

Australia's potential share of critical minerals investments worth A$20bn/y, report shows

By: Mariaan Webb     22nd November 2023 To meet the temperature targets of the Paris Agreement necessitates not only the rapid and widespread deployment of clean energy technologies, but also a monumental scaling up of mineral production, says leading miner BHP. The gravity of the global energy transition becomes apparent when... 

Access to talent is becoming an increasing challenge in Australia.
Access to talent is becoming an increasing challenge in Australia.

China-linked fund seeks ouster of Australia rare earths miner's chairman

By: Reuters     22nd November 2023 A China-linked fund that is a major shareholder in Australia's Northern Minerals has filed a motion to oust the rare earth developer's chairman after the fund's move for a higher stake was rejected on national interest grounds early this year. Singapore-based Yuxiao Fund, which owns a near 10%... 

Nick Curtis
Nick Curtis

IonicRE to raise $5.9m through share placement

By: Darren Parker     20th November 2023 ASX-listed Ionic Rare Earths (IonicRE) has received firm commitments to raise $5.9-million by way of a share placement of about 281-million fully paid ordinary shares at an issue price of $0.021. The placement was oversubscribed and was strongly supported by both key existing shareholders and new... 

Pensana, Yorkshire Energy Park sign letter of intent for magnet metal facility in the UK

By: Tasneem Bulbulia     20th November 2023 Pensana and The Yorkshire Energy Park (YEP), at an on-site event on November 17, signed a letter of intent for the site of a future permanent magnet metal facility within the park. The YEP is located adjacent to the Saltend Chemicals Park in the Humber Freeport UK. 

Imperative that exploration plan be implemented as matter of urgency – Khoza

By: Martin Creamer     17th November 2023 If South Africa is not to be left out of the exploration boom, spurred by the immense mineral resources required to develop technologies needed to achieve net zero, it is imperative that the recommendations of South Africa’s Exploration Implementation Plan be implemented in full as a matter of... 

Integrated Geoscience Solutions Technical Director Dr David Khoza.
Integrated Geoscience Solutions Technical Director Dr David Khoza.

Renewables now critical part of metal mining thinking, says Sibanye-Stillwater 

By: Martin Creamer     14th November 2023 Renewables have become a critical part of metal mining thinking, the Sibanye-Stillwater Battery Metals Investor Day 2023 audience heard on Tuesday. “If you look at electricity, renewables are expected to account for between 80% and 90% of global power generation. So, renewables have become a very... 

Sibanye-Stillwater CEO Neal Froneman.
Sibanye-Stillwater Battery Metals Investor Day covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Automakers' drive to avoid China's EV rare earth as dominance gathers speed

By: Reuters     14th November 2023 The auto industry's drive to make electric vehicle motors with little to no rare earth content has hit high gear, with European, US and Japanese automakers and suppliers racing for alternatives in an area dominated by China. Automakers have mostly relied on motors with rare earth-based permanent... 

Neodymium is a key rare earth mineral in EVs
Photo by Bloomberg
Neodymium is a key rare earth mineral in EVs

Lynas withdraws court request to review Malaysia licence conditions

By: Reuters     14th November 2023 Australia's Lynas Rare Earths has withdrawn its application for a judicial review of its operating licence conditions in Malaysia, a Malaysian government lawyer said on Tuesday. Lynas withdraw the judicial review following the Malaysian government's decision last month to allow the firm to... 

Mkango to build 25 MW of solar at Songwe Hill

By: Darren Parker     13th November 2023 Rare earth element (REE) mining company Mkango aims to build three solar photovoltaic plants with a combined capacity of 25 MW at its Songwe Hill project, in Malawi, to provide sustainable electricity supply for some of the mine’s operations.  This was revealed in the company’s first... 

Ionic secures over 90% of land access agreements for Ugandan project

By: Tasneem Bulbulia     13th November 2023 ASX-listed Ionic Rare Earths has achieved progress in securing land access agreements for the mining licence application (MLA) for the Stage 1 development of the Makuutu rare earths project over retention licence 1693 (application TN03834), through local Ugandan operating entity Rwenzori Rare... 

IonicRE expects first product at Makuutu early next year

By: Darren Parker     10th November 2023 ASX-listed Ionic Rare Earths (IonicRE) expects it will produce its first mixed rare earth carbonate from its new demonstration plant at the Makuutu rare earths project, in Uganda, early in the first quarter of next year, which the company says will be a major milestone in the development of the... 

The Olympics, Phalaborwa, Harmony Gold make headlines   

10th November 2023 Mining Weekly Editor Martin Creamer discusses next year's Olympics, which aims to showcase platinum-based hydrogen technology as a net-zero solution; Phalaborwa's potential to become one of the most environmentally friendly and lowest-cost rare earth projects in the world; and Harmony Gold's... 

The Olympics, Phalaborwa, Harmony Gold make headlines
The Olympics, Phalaborwa, Harmony Gold make headlines

Western miners seek premium pricing for rare earth metals to break China grip

By: Reuters     9th November 2023 A handful of Canadian, German and Australian critical mineral explorers plan to command premium prices for key metals used in electric vehicles, promising quality and consistency in exchange for shifting reliance away from China, the dominant producer and price-setter. China controls 95% of the... 

A handful of Western critical mineral explorers plan to command premium prices for key metals used in EVs.
A handful of Western critical mineral explorers plan to command premium prices for key metals used in EVs.

South Africa’s Phalaborwa rare earths project hailed as enviro friendly and low cost 

By: Martin Creamer     8th November 2023 An extensive due diligence process has confirmed the potential of South Africa’s Phalaborwa project as one of the lowest cost producers of separated rare earth oxides in development, London Stock Exchange-listed Rainbow Rare Earths stated on Wednesday in announcing its entry into an investment... 

TechMet chairperson and CEO Brian Menell
TechMet chairperson and CEO Brian Menell

MP Materials' adjusted profit beats; rare earths prices sag

By: Reuters     3rd November 2023 Rare earths miner MP Materials posted a better-than-expected adjusted quarterly profit on Thursday as it worked to offset a sharp drop in prices for the strategic minerals and rising operating costs. Rare earths are a grouping of 17 metals used to make magnets found in motors that turn... 

Ionic Rare Earths aims for Uganda project decision late next year

By: Reuters     31st October 2023 Australia's Ionic Rare Earths hopes to make a final investment decision by the second half of next year on its Uganda project and could spend $120-million to develop it after that decision has been taken, an executive said on Tuesday. The Makuutu Rare Earths Project is Uganda's first commercial... 

Meteoric’s gold project sale initially terminated, now completed

By: Creamer Media Reporter      31st October 2023 The $20-million sale of the Juruena gold project, in Brazil, to Keystone Resources has been successfully completed, ASX-listed Meteoric Resources reported on Tuesday. The parties agreed to the sale in June last year, with the first tranche of $2.5-million having been received in October 2022.... 

Penansa makes headway on Longonjo financing

By: Darren Parker     31st October 2023 Rare earths and magnet metals mining company Pensana's engineering team has successfully completed a modular redesign of the Longonjo neodymium and praseodymium mine and processing facility in Angola, with a total capital expenditure (capex) of $200-million. “The completion of the engineering... 

Northern Minerals delays AGM on China influence concern

By: Reuters     31st October 2023 Australian rare earths miner Northern Minerals has pushed back a shareholder meeting to allow regulators time to assess whether a Chinese national nominated to the board by top shareholder Yuxiao Fund would meet national interest criteria. Australia's government has said it is looking for... 

Rainbow sets 2024 priorities, including to raise $3.4m

By: Marleny Arnoldi     30th October 2023 As London-listed Rainbow Rare Earths reports to shareholders on having achieved various milestones in the financial year ended June 30, it is set to focus on the production of separated rare earth oxides at a back-end pilot plant in the US and complete a definitive feasibility study (DFS) by the... 

China’s Shenghe takes stake in troubled Vital

By: Mariaan Webb     27th October 2023 China-based rare earths company Shenghe Resources has agreed to take a cornerstone stake in troubled rare earths developer Vital Metals, which owns the Nechalacho project in Canada’s Northwest Territories. Shenghe has agreed to subscribe for 9.99% of the issued share capital in ASX-listed Vital... 

China’s Shenghe takes stake in troubled Vital

Afrimat continues to weather economic shocks through diversification

By: Darren Parker     26th October 2023 Mid-tier mining and materials company Afrimat’s strategy to diversify between commodities and revenue streams, coupled with stringent capital allocation, has enabled the group to continue to weather economic and commodity shocks in the six months to August 31, group CEO Andries van Heerden said... 

Afrimat group CEO Andries van Heerden
Afrimat group CEO Andries van Heerden

Lynas jumps as Malaysia allows key plant extension

By: Reuters     25th October 2023 Shares of Lynas Rare Earths hit their highest in over a month on Wednesday, extending gains, after Malaysia allowed the miner to operate its flagship refinery locally with a variation to the operating licence. Shares jumped as much as 5.6% to A$7.2 as of 02:29 GMT, hitting highest since... 

Malaysia allows Lynas to import radioactive raw material until 2026

By: Reuters     24th October 2023 Malaysia on Tuesday amended Lynas Rare Earths' operating license to allow the Australian firm to import raw materials containing natural radioactive material and process rare earths until March 2026. The extension of the license comes despite concerns raised in recent years by Malaysia regarding... 

Malaysia allows Lynas to import radioactive raw material until 2026

Malaysia to allow exports of processed rare earths, ban raw material shipments

By: Reuters     24th October 2023 Malaysia will allow exports of only processed rare earths and prohibit shipments of rare earth raw material, its Science and Technology Minister Chang Lih Kang said on Tuesday. Chang did not say when the new rules will come into effect. 

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