Aclara Resources announced that its Penco Module ion-adsorption type rare earth project in the Biobío region of Chile has obtained an environmental permit resolution. The project employs Aclara's patented "Circular Mineral Harvesting" technology to sustainably extract the heavy rare earth elements dysprosium (Dy) and terbium (Tb) with low water consumption, for use in permanent magnets in EVs, renewable energy, and national defense. Penco Module has become one of the few heavy rare earth projects approved in Chile (outside China) and is expected to start production in mid-2028, with an annual output of 811 mt of rare earth oxides.

[SMM Rare Earth Weekly Review: Rare Earth Prices Show Mixed Performance, with Lackluster Actual Transactions] Due to the impact of news factors, some industry insiders expect that the supply of Pr-Nd oxide will increase significantly in H2. As a result, downstream metal plants showed low purchase willingness, causing quotes for Pr-Nd oxide to edge down. As of today, the price of Pr-Nd oxide fluctuated and pulled back to 690,000-693,000 yuan/mt.

South Korea will launch a national R&D project to reuse fuel cells and rare earth permanent magnets recovered from scrapped hydrogen vehicles. The Ministry of Climate, Energy and Environment and the Korea Environmental Industry & Technology Institute announced on June 8 that they will begin a national R&D project to safely dismantle end-of-life hydrogen vehicles and reuse or recycle their key components. The ministry will invest KRW 40.8 billion from this year through 2029 to develop technologies in three major areas: safe removal of residual hydrogen and dismantling of key components; development of power generation systems using reused hydrogen storage tanks and fuel cells; and recovery of permanent magnets from end-of-life drive motors and conversion into high-purity rare earth materials.

[SMM Rare Earth News Flash] Ramaco Resources and REalloys signed a non-binding memorandum of understanding to establish a strategic partnership aimed at building a domestic US rare earth and permanent magnet supply chain. Ramaco will supply REalloys with mixed rare earth carbonates and scandium oxide produced from its Brook project in Wyoming, while REalloys will utilize SRC facilities for separation and processing. REalloys may secure supply rights to up to 20% of Ramaco's future production of critical materials. The Brook mine is the first new rare earth mine built in the US in over 70 years, and mining and pilot-scale processing facilities are currently under construction.

[SMM Rare Earth Weekly Review: Rare Earth Market Shows Mixed Performance, Tug-of-War Between Upstream and Downstream Continues] Influenced by short covering by bears, futures prices rose, slightly boosting downstream willingness to restock. Procurement volumes for Pr-Nd oxide edged up compared to the previous period, and supplier quotes also rebounded slightly. As of today, Pr-Nd oxide prices fluctuated upward to 697,000-700,000 yuan/mt.

[SMM Rare Earth News Flash] USA Rare Earth announced on June 2 that it will invest $1.2 billion to build a new magnet manufacturing and rare earth metal refining plant in Cherokee County, South Carolina, located at the Bailey Industrial Park in Blacksburg. Once operational, the plant is expected to produce 6,400 mt of sintered NdFeB permanent magnets and 5,000 mt of rare earth metals and alloys annually. Combined with the expansion plan for the Stillwater plant in Oklahoma, the company's total domestic capacity will reach 10,000 mt of NdFeB magnets and 10,000 mt of rare earth metals and alloys per year. The project is the company's third plant in the US, following the separation plant in Colorado and the magnet plant in Oklahoma, and is expected to begin commissioning in 2028.