[SMM Rare Earth News Flash] ASX-listed Aldoro Resources announced an updated JORC-compliant Mineral Resource Estimate for its 85%-owned Kameelburg rare earth-strontium-niobium project in Namibia, confirming it as the world's largest co-product strontium deposit. At a 0.5% total rare earth oxide (TREO) cut-off grade, the Inferred Mineral Resource is 597 million mt at a TREO grade of 2.49%. The maiden strontium resource is 596 million mt at a strontium grade of 2.17%. The high-grade (TREO >1%) ore resource is 313 million mt at a TREO grade of 2.87%. Strontium can be used in permanent magnets, specialty glass, and national defense equipment. This resource update further highlights the project's unique strategic value.

[SMM Rare Earth News Flash] Australia's Arafura announced that its Nolan rare earth project received A$200 million (approximately $144 million) in unsecured convertible notes from the National Reconstruction Fund, bringing total financing to $911 million. The project plans to produce 4,400 mt of Pr-Nd oxide and 470 mt of mixed medium-heavy rare earth oxide annually for at least 38 years, meeting 4% of global Pr-Nd demand. The company plans to make a final investment decision in July 2026 and has signed offtake agreements with Hyundai, Siemens, and others covering 66% of production.

[SMM Rare Earth News Flash] US rare earth producer MP Materials reported Q1 2026 results: Pr-Nd oxide production was 917 mt, up 63% YoY; sales were 1,006 mt, including the first shipment to its newest US client. During the same period, the company produced nearly 13,000 mt of rare earth oxides. The company expects the actual Pr-Nd oxide price in Q2 to be approximately $90/kg, but its public-private partnership with the US Department of National Defense will cover the gap to the $110/kg lowest price. Q1 revenue was $91 million, with losses narrowing to $8 million.

[SMM Rare Earth News Flash] American Rare Earths (REA) completed a traditional IPO outside China on May 6, listing on the NYSE American exchange at an offering price of $19 per share for approximately 3.33 million shares, raising approximately $63.3 million and achieving a market capitalization target of $368 million. The company focuses on heavy rare earth projects essential for national defense and permanent magnets, including the Shilo project in Georgia, US, and the Alfa project in Brazil.

[SMM Rare Earth News Flash] On May 10, the spokesperson of the Ministry of Commerce answered reporters' questions regarding issues related to China-U.S. economic and trade consultations. A reporter asked: There have been recent reports that China and the U.S. will soon hold the next round of economic and trade consultations. Does the Ministry of Commerce have any latest updates? Answer: As agreed upon by both China and the U.S., He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, will lead a delegation to South Korea from May 12 to 13 to hold economic and trade consultations with the U.S. side. Both sides will be guided by the important consensus reached by the two heads of state during their Busan meeting and previous phone calls, and will conduct consultations on economic and trade issues of mutual concern.

[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.

[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.

[SMM Rare Earth News] US critical minerals developer Critical Metals (CRML.US) signed a letter of intent on April 27 to acquire Australian Lithium (European Lithium) in an all-stock transaction valued at approximately $835 million. European Lithium held the remaining 7.5% equity in the Tanbreez project, and upon completion of the transaction, Critical Metals will obtain 100% control of the project. The project is one of the largest known rare earth deposits in the world, with total rare earth oxides of 28.2 million mt, containing over 27% heavy rare earth.

[SMM Rare Earth News Flash] To accelerate the development of Europe's domestic rare earth resources, the Norwegian government has officially taken over the planning of the Fen deposit located in the Telemark region in the south of the country, elevating the project's planning authority from the Nome municipal government to the national level. The Fen deposit is Europe's largest known rare earth deposit, with rare earth oxide resources of 15.9 million mt, an 81% increase from the 2024 assessment. Currently, developer Norwegian Rare Earths plans to commence production in H2 2031 and produce 800 mt of NdPr in 2032, which is expected to meet approximately 5% of the EU's demand.

[SMM Rare Earth News Flash] USA Rare Earth agreed to acquire Brazil's Serra Verde Group for $2.8 billion. The deal includes $300 million in cash and stock. After the merger, original USA Rare Earth shareholders will hold 66% and Serra Verde shareholders 34%. Serra Verde owns the Pela Ema ionic clay mine, targeting annual production of 6,400 mt of rare earth oxides by the end of 2027 with plans to double that. It has signed a 15-year offtake agreement with a US government-funded agency, locking in lowest prices for praseodymium, neodymium, dysprosium, and terbium. This acquisition accelerates the company's mine-to-magnet integrated strategy, with combined rare earth oxide capacity reaching 17,100 mt/year after the merger.