[SMM Rare Earth Flash] London-listed Pensana announced that construction of the Longonjo rare earth mine in Angola is progressing as planned, with a total investment of $250 million, targeting first commissioning and production of mixed rare earth carbonate (MREC) in 2027. The mine has a life of 20 years, with an initial annual output of 20,000 mt, expanding to 40,000 mt in the fourth year. The company is optimizing the heavy rare earth recovery circuit, targeting annual production of dysprosium and terbium exceeding 122 mt, and is expected to become one of the largest heavy rare earth producers in the Western world. Pensana has signed a non-binding memorandum of understanding with Toyota Tsusho for the potential off-take of up to 20,000 mt of mixed rare earth carbonate per year for five years. The project is also supported by offtake framework agreements with multiple partners.

On March 10, 2026, Lynas and Japan’s JARE signed a long-term deal featuring PrNd floor prices, profit-sharing, and heavy rare earth priority. Analyzing 2025 production data, this report evaluates the partnership’s commercial terms, operational progress, and downstream demand security.

[SMM News: Meteic Resources Announces First Batch of Rare Earth Production from Pilot Plant] Meteic Resources recently submitted a statement to the Australian Securities Exchange, announcing that low-grade clay ore had been introduced into the pilot plant within two weeks and multiple technical process tests had been completed. After completing the low-grade ore tests, the plant will shift to testing more representative ore grades from the Brazilian deposit. The company stated that there is still room for technical improvement and plans to explore rare earth separation technologies such as solvent extraction and flash Joule heating (FJH). Several optimization opportunities have been identified during the commissioning and early operation phases, with related outcomes to be integrated into the DFS. The company emphasized that the smooth operation of the pilot plant marks a significant milestone, successfully achieving the production of the first batch of mixed rare earth carbonate (MREC). The plant's construction and operation are based on prior test results from the Australian government agency ANSTO, including four consecutive five-day trial runs. The pilot phase not only validated process parameters and optimization potential but also enhanced project execution capabilities through operator training.

US rare earth producer MP Materials is expected to commence production of heavy rare earth elements, including dysprosium and terbium, by mid-2026. CEO James Litinsky stated during the Q3 earnings call on November 7 that the company's new rare earth production line will process approximately 3,000 mt of raw material annually and produce over 200 mt/year of dysprosium and terbium. This capacity will fully support MP's plan to produce 10,000 mt of high-performance NdFeB magnets per year. MP plans to build its "10X" magnet manufacturing facility, which is scheduled to begin operations in 2028, with production fully backed by existing offtake agreements. Given that the typical ratio of dysprosium to terbium in MP's ore body is approximately 3:1, the allocation of the 200 mt/year output will align with this ratio, according to MP.

[SMM Flash: Lynas Q3 Rare Earth Production Rises] Australia's Lynas reported increased rare earth production in Q3 and completed its first shipment of heavy rare earths. Specifically, total rare earth oxide production reached 3,993 mt in July-September, up 32% YoY and up 24% QoQ. Pr-Nd output totaled 2,003 mt, down slightly from 2,080 mt in the previous quarter but still up 16% YoY. Lynas continues to ramp up dysprosium and terbium production. In May, the company successfully produced dysprosium for the first time, becoming the first heavy rare earth producer outside China. From July to September, Lynas produced 9 mt of heavy rare earths, signed sales contracts with initial customers, and completed product shipments. Additionally, the company plans to start samarium production in H1 2026. On October 29, Lynas announced an expansion plan for its Malaysian heavy rare earth separation plant, with work set to begin in December.

The global competition for critical minerals has reached unprecedented levels in 2025, with major powers implementing aggressive strategies to secure supply chains essential for clean energy technologies, defense systems, and advanced electronics.