Amid sustained demand growth, India plans to build a strategic reserve of critical minerals including lithium, cobalt, nickel, copper and rare earths. The stockpile will be sized to cover six months of domestic consumption, aiming to guard against risks of global supply disruptions and sharp raw material price volatility. Led by India’s Ministry of Mines and Ministry of Heavy Industries, the reserve covers key raw materials essential for new energy vehicles, energy storage and the electronics sector, fields where India currently relies heavily on imports. At present, the United States, China, South Korea and other countries have already established strategic reserve systems for critical minerals.
May 1, 2026 07:00I. Resource Endowment: World's Second-Largest Reserves and Development Potential As a core holder of global rare earth resources, Brazil boasts proven reserves of 21-25 million tonnes, accounting for 23% of the global total—second only to China. This positions Brazil with the potential to reshape the global rare earth supply landscape. Its deposits are primarily ion-adsorption types, widely distributed across states like Minas Gerais and Goiás. Representative projects include: Colossus Mine : With reserves of 493 million tonnes and an average grade of 0.251%, it is currently Brazil's largest disclosed ion-type rare earth project. Caldeira Rare Earth Project : Holding 1.5 billion tonnes at a 0.2413% grade, it offers significant scale and commercial viability. Tiros Titanium Rare Earth Project : Though smaller in reserve size (5.5 million tonnes), it stands out with a high average grade of 0.400%, making it one of the highest-grade projects in the country. Notably, Brazilian rare earths often coexist with niobium, tantalum, and titanium. This nature adds complexity to processing but also opens avenues for comprehensive value recovery. II. Industry Status: Shifting from "Raw Material Export" to "Domestic Processing" Historically, Brazil's rare earth sector has been characterized by a "high reserves, low output" paradox. In 2024, national production was a mere 20 tonnes, a stark contrast to the global annual output of nearly 400,000 tonnes. The core bottleneck has been the lack of mid- and downstream capabilities in separation and refining. However, this is rapidly changing due to strategic national adjustments. (I) Policy Drivers: Mandating Domestic Processing for a Closed-Loop Chain The Brazilian government has designated rare earths as "strategic minerals." Under the National Policy for Critical and Strategic Minerals (PNMCE, Bill PL 4.443/2025), at least 80% of critical strategic minerals must be processed domestically, effectively banning raw ore exports. This policy aims to break the passive cycle of "mining-exporting raw materials-importing high-value products" and drive the construction of a full domestic value chain "from mine to magnet." (II) Project Implementation: From Lab to Industrialization In 2026, Brazil's rare earth development took a substantive leap: MagBras Initiative : Led by CIT SENAI in Minas Gerais and coordinated by FIESC in Santa Catarina, this project united 28 companies and research bodies to deliver the first 20kg of rare earth carbonate. This marked Brazil's first autonomous, full-process production from mining to chemical compound. LabFabITr Facility : Located in Lagoa Santa, Minas Gerais, this is the Southern Hemisphere's first lab-factory dedicated to rare earth magnet and alloy R&D, providing crucial technical support for local permanent magnet manufacturing. III. Capital and Geopolitics: The $2.17 Billion Investment Gamble Between 2025 and 2029, Brazil's rare earth sector is poised for $2.17 billion in investment—a 49% surge compared to the 2024-2028 forecast. This makes it the fastest-growing segment in Brazil's mining investment portfolio. This capital influx is underpinned by the geopolitical logic of global supply chain restructuring: (I) External Demand: A "Diversified Option" Amidst US-China Tensions As competition between the US and China intensifies, Brazil's strategic value as a "non-Chinese" supplier has skyrocketed. Its policy of "global openness" avoids picking sides while leveraging domestic processing mandates to attract technology transfer—requiring foreign investors to build local processing capabilities rather than just extracting ore. (II) Internal Drive: From "Resource Nationalism" to "Technological Autonomy" Brazil's strategy transcends simple resource protection; it is an upgrade centered on "technological autonomy." For instance, MagBras targets permanent magnet manufacturing—a sector currently monopolized by China, Japan, and Germany. Success would position Brazil among the few nations mastering the "ore-to-magnet" value chain, directly integrating into the core supply chains of EVs, wind energy, and industrial robotics. IV. Challenges and Outlook: Technology, Cost, and Global Competition Despite the upside, three core challenges remain: (I) Technological Barriers Rare earth separation and magnet manufacturing are high-threshold sectors. Brazil currently relies on international partnerships (e.g., European technical support for LabFabITr) to bridge this gap. (II) Cost Pressures Brazil's low-grade ion-adsorption ores entail higher beneficiation costs compared to some high-grade Chinese deposits. Additionally, the capital and operational expenditures for domestic processing could impact international price competitiveness. (III) Global Competition With Australia, the US, and various African nations also accelerating their rare earth developments, Brazil must carve out differentiated advantages in technology, cost efficiency, and policy stability to secure its market share. V. Conclusion: Leaping from "Resource Holder" to "Supply Chain Player" Brazil's rare earth transition represents a strategic leap from a "resource exporter" to a "technology-driven industrial player." While its 21 million tonnes of reserves provide the foundation, the true value lies in its policy-driven, capital-intensive push to build a complete industrial chain. If initiatives like MagBras achieve commercial success, Brazil is on track to become the "third pole" in the global rare earth supply chain by 2030, reshaping trade dynamics and offering a new paradigm for resource-based economies worldwide.
Apr 30, 2026 22:07SMM April 30 — Recently, the General Administration of Customs released import and export data for January-March 2026. According to the latest data, China's imports of thorium ore and concentrates from January to March 2026 totaled 17,363 mt, down 5% YoY. March imports were 3,336 mt, down 21% MoM but up 47% YoY. Currently, as China's light rare earth separation enterprises experienced significant production cuts and suspensions in Q1 this year, market demand for thorium ore and concentrates declined notably. Actual transaction prices also continued to fall, reducing ore traders' enthusiasm for imports, which in turn led to the YoY decline in actual imports of thorium ore and concentrates. According to the latest data from the General Administration of Customs, China's imports of unlisted rare earth oxides from January to March 2026 totaled approximately 21,607 mt, up 242% YoY. In terms of reasons, on one hand, at the beginning of last year, rare earth ore exports from Myanmar — the primary source country for unlisted rare earth oxide imports — were affected by a series of negative factors, resulting in relatively low exports of unlisted rare earth oxides during the same period last year. On the other hand, from January to March this year, changes in tax policies in Myanmar prompted some ore traders to rush imports, causing a notable increase in imports of unlisted rare earth oxides.
Apr 30, 2026 18:46In April, rare earth oxide production showed a slight overall decline, with all major products seeing varying degrees of MoM reduction. Supply-side disruptions became one of the market's key focal points for the month.
Apr 30, 2026 18:34[SMM Rare Earth News Flash] JL MAG Rare-Earth (300748.SZ) announced on April 28 that in Q1 2026, the company achieved revenue of 2.04 billion yuan, up 16.1% YoY; net profit attributable to the parent company was 193 million yuan, up 20.1% YoY; non-recurring items excluded net profit attributable to the parent company was 176 million yuan, up 65.9% YoY significantly; net operating cash flow was 358 million yuan, up 202.1% YoY. The comprehensive gross margin was 21.83%, up 6.13 percentage points YoY, with profitability quality continuing to improve.
Apr 30, 2026 18:06[SMM Rare Earth News] EMR committed £730,000 to support the CirculaREEconomy (CREEM) project led by Ionic Technologies. The project is part of the UK's DRIVE35 initiative, aiming to build a sustainable circular supply chain for EV rare earth magnets. The new pilot production line will explore efficient extraction of NdFeB magnets from retired motors, with Ionic Technologies refining them into rare earth oxides through sustainable chemical processes to meet next-generation EV specifications. Partners include Ford, Bentley, and Wrightbus.
Apr 30, 2026 18:03Dear User, Hello! To comprehensively cover price information across all segments of the rare earth industry chain and assist upstream and downstream enterprises in monitoring market fluctuations and mitigating transaction risks, we have conducted extensive market surveys and industry consultations. It has been decided to introduce six new price points related to the rare earth industry chain, including lanthanum metal, praseodymium metal, and praseodymium oxide. The newly added price points are as follows: Praseodymium Oxide FOB: Compliant with Industry Standard GB/T 5239-2015, Content ≥99.0–99.9%, Unit: $/kg Terbium Oxide FOB: Compliant with Industry Standard GB/T 12144-2009, Content ≥99.95–99.99%, Unit $/kg The above two prices for rare earth oxides are inclusive of VAT, with the port of departure being any port within China. Lanthanum Metal FOB: Compliant with Industry Standard GB/T 15677-2023, Content ≥99.0%, Unit: $/kg Praseodymium Metal FOB: Compliant with industry standard GB/T 19395-2013, content ≥96.0-99.0%, unit $/kg Terbium Metal FOB: Compliant with Industry Standard GB/T 20893-2007, Content ≥99.9%, Unit: $/kg Yttrium Metal FOB: Complies with Industry Standard XB/T 218-2016, Content ≥99.9–99.95%, Unit: $/kg The price point of this rare earth metal includes VAT, and the port of departure is any port within China. Effective Date: The aforementioned new price points will be officially released starting January 28, 2026, and will be updated every Wednesday before 12:00 PM. The purpose of this addition is to achieve more refined regional and grade classifications. All newly added price points are based on mainstream industry trading specifications and trade conditions, formed through screening and verification via standard price collection processes. They are provided for market reference only and do not constitute trading decision recommendations. For details on the price formation methodology and specific product specifications, please log in to the official platform. If you have any questions, feel free to contact SMM Rare Earth Analyst Shi Xin at 021-51666815. SMM Rare Earth Industry Research Team January 27, 2026
PriceJan 27, 2026 13:58Dear User, Greetings! In recent years, the rare earth-NdFeB magnetic material industry chain has been continuously developing. During the process of refining its industry chain, SMM identified that the existing NdFeB-related data in the original terminal could no longer meet market demands. Therefore, after multiple rounds of surveys and verification, SMM has revised and expanded its original NdFeB data. The specific adjustments are as follows: NdFeB Production: 1. Discontinued 1 data point, namely the Monthly NdFeB Magnet Output by Manufacturer. The discontinued data location: Rare Earth - Rare Earth Production – NdFeB Magnet. 2. Added 5 data points, respectively [National Monthly Total Production], [Monthly Total Production of Sample Enterprises], [Monthly Production of Top-Tier Enterprises], [Monthly Production of Mid-Tier Enterprises], [Production Volume of Marginal Enterprises per Month]. The above data locations are all under Rare Earth - Rare Earth Production – NdFeB Magnet. 3. The above data are all updated monthly, with the update date being the last working day of each month, and the data dimension being the current month's data. 4. The data start date is January 2025. NdFeB Operating Rate: 1. Added five data points: [National Average Operating Rate], [Average Operating Rate of Sampled Enterprises in the Current Month], [Operating Rate of Top-Tier Enterprises in the Current Month], [Operating Rate of Mid-Tier Enterprises in the Current Month], [Operating Rate of Marginal Enterprises in the Current Month]. 2. The above data are located under Rare Earths - Rare Earth Operating Rate – NdFeB Magnet. 3. These data are updated monthly, with the update date being the last working day of each month, reflecting the current month's data. 4. The data series begins in January 2025. NdFeB Capacity 1. Added new category: Rare Earth - Rare Earth Capacity 2. Added four data points: [Quarterly Total NdFeB Capacity in China], [Quarterly NdFeB Capacity of National Top-Tier Enterprises], [Quarterly NdFeB Capacity of Mid-Tier Enterprises Nationwide], [Quarterly NdFeB Capacity of Small-Scale Enterprises Nationwide] 3. Location of the above data: Added new category: Rare Earth - Rare Earth Capacity 4. The above data is updated quarterly, with the update date being the last working day of the final month of each quarter. The data dimension reflects the current quarter. 5. The data start date is March 2025. NdFeB Supply-Demand Balance 1. Discontinued 3 data series: [SMM NdFeB Supply-Demand Balance: Supply], [SMM NdFeB Supply-Demand Balance: Consumption], [SMM NdFeB Supply-Demand Balance: Supply-Demand Balance] 2. Added 3 data series: [SMM NdFeB Supply-Demand Balance: National Total Supply], [SMM NdFeB Supply-Demand Balance: National Total Consumption], [SMM NdFeB Supply-Demand Balance: National Total Supply-Demand Balance] 3. Data location: Rare Earth - Supply-Demand Balance - NdFeB 4. These data series are updated monthly on the last business day of each month, reflecting the previous month's data (e.g., July data updated on August 29). 5. Data coverage starts from January 2025. Pr-Nd Alloy Supply-Demand Balance 1. Added a new classification for Pr-Nd alloy supply-demand balance 2. Added three datasets: [SMM Pr-Nd Alloy Supply-Demand Balance: Supply], [SMM Pr-Nd Alloy Supply-Demand Balance: Consumption], [SMM Pr-Nd Alloy Supply-Demand Balance: Supply-Demand Balance] 3. Data location: Rare Earth - Supply & Demand Analysis - Pr-Nd Alloy 4. The above data is updated monthly, with the update date set as the last working day of each month, reflecting the current month's data 5. The data series starts from January 2025 NdFeB Production and Operating Rate Forecast 1. Discontinued two data series: [Production - Forecast] and [Operating rate - Forecast]. 2. These will be replaced by two alternative data series: [NdFeB - Monthly production schedule expectation] and [NdFeB - Monthly operating rate expectation]. The above data adjustments will officially take effect on September 10, 2025. Users can then query the aforementioned data in the SMM data terminal. For any inquiries, please contact the SMM Rare Earth Research Team. SMM Rare Earth Research Team Shi Xin Contact: shixin@smm.cn
DataSep 8, 2025 18:51
