Australia’s Resources Minister Madeleine said on Thursday that France is one of the countries prepared to invest in Australia’s critical minerals projects. Earlier, a framework agreement signed between Canberra and the US prompted countries with advanced manufacturing industries to secure access to critical minerals supplies. Australia has launched a four-year plan aimed at building industries for minerals such as rare earths. These minerals are vital to future technologies such as electronics and national defense. Madeleine said: “Since signing the framework agreement with the US, some other partners have also accelerated this work, because they are also ensuring that they can secure access to critical minerals.” “France is becoming increasingly active,” she said.

India is expected to increase domestic production of rare earth permanent magnets, such as lithium, targeting 5,000 mt by 2030. This move aims to reduce reliance on imports and gradually establish a solid foundation for critical minerals in China.

On the 25th, it was confirmed that the South Korean government will exempt tariffs of 3–8% on critical minerals such as lithium, graphite, and rare earth elements when domestically owned companies directly produce and import them from overseas. The Ministry of Trade, Industry and Energy has pre-announced a new regulation outlining tariff exemptions for overseas resource development projects. Under the policy, a total of 14 critical minerals—including lithium, graphite, nickel, cobalt, manganese, copper, zinc, and rare earth elements such as lanthanum, cerium, neodymium, terbium, dysprosium, yttrium, and scandium—will be eligible for duty exemption when brought into the country. The regulation is set to take effect on April 3.

The U.S. government has shifted from policy announcements to actively deploying capital, channeling funds through multiple programs to strengthen domestic and allied critical mineral and metal supply chains and related manufacturing. In practice, this financing is delivered through several key agencies: the Department of Energy (especially the Loan Programs Office), the Department of Defense (including Defense Production Act Title III and the Office of Strategic Capital), the Department of Commerce (such as the CHIPS Program Office), USDA Rural Development for select industrial support, and the International Development Finance Corporation for strategic overseas investments, alongside the Export-Import Bank, which plays a major role in funding projects from mining to manufacturing.

[SMM Rare Earth Bulletin] Japanese Prime Minister Takaichi Sanae and US President Trump reached an agreement under which both sides will strengthen cooperation on critical minerals to enhance supply chain resilience. The two countries signed a preliminary agreement to jointly develop deep-sea mineral resources, including rare earth-rich mud resources around Minamitorishima. The Ministry of Economy, Trade and Industry and the Department of Commerce will establish a working group to advance technical cooperation on projects involving rare earth mud and manganese nodules. In addition, Mitsubishi Materials is cooperating with US-based ReElement Technologies on a project in Indiana to recycle rare earths from waste magnets.

This week, the rare earth market outside China showed a divergent pattern of “cerium up, the rest down.” Driven by price increases in China and rising ocean freight rates, cerium oxide FOB and CIF prices rose by $55/mt and $60/mt, respectively, while FOB offers for mainstream magnetic material raw materials such as praseodymium, neodymium, dysprosium, and terbium were generally lowered by $3-19.5/kg due to lower prices in China and tight supply caused by export controls. Although limited trading volumes supported premiums in markets outside China, expectations of an industrial slowdown in Europe triggered by the Middle East situation may suppress subsequent demand. On industry developments, Lynas’ Malaysia plant started samarium oxide production ahead of schedule, consolidating its position as the only commercial heavy rare earth separator outside China and advancing its 2030 strategy. In Australia, Terrain discovered high-grade magnetic rare earth ore intervals during drilling at its Western Australia project, highlighting significant resource potential.