The ex-China rare earth market this week exhibited a trend of "falling prices amid tight supply," with Pr-Nd oxide and metal prices generally marked down by approximately $5-10/kg. However, due to export controls and tightening supply, the premium on Chinese products outside China remained significant. Meanwhile, geopolitical rivalry and supply chain restructuring accelerated, with G7 finance ministers calling for urgent reduction of dependence on China and the establishment of recycling quota systems. On the capital front, Greenland Resources spent $35 million to acquire the high-grade Sarfartoq project to strengthen its magnetic material rare earth portfolio. Australia's Arafura officially finalised the final investment decision for the Nolans project. Combined with Brazil's launch of an antitrust investigation and Germany's Heraeus divesting its recycling business, these developments underscored the urgency of global decoupling and localization efforts.

[SMM Rare Earth News Flash] The Geological Survey of Brazil (SGB) recently conducted rare earth exploration potential assessments in the states of São Paulo, Paraná, and Santa Catarina, achieving notable preliminary results, with total rare earth oxide (TREO) grades exceeding 0.8% in multiple samples. Brazil currently holds the world's second-largest rare earth reserves, with major projects concentrated in the states of Minas Gerais and Goiás. Against the backdrop of surging global interest in rare earths and record-high mergers and acquisitions (such as the $2.8 billion acquisition of Serra Verde by American Rare Earths), SGB is actively expanding into new mineralization areas, with the next step being assessments of areas including Sete Barras in the state of São Paulo.

As global interest in rare earth surges, Brazil is seeking new areas that could increase its rare earth reserves. The Geological Survey of Brazil (SGB) recently promoted the evaluation of new mineralization zones with rare earth potential in the country. The SGB, under Brazil's Ministry of Mines and Energy, studied the rare earth exploration potential in the states of São Paulo, Paraná, and Santa Catarina. Fieldwork was conducted in the following locations: Itupeva, Alumínio, Morungaba, Capão Bonito, Juquiá, Jacupiranga, Cajati, Itapirapuã Paulista, and Cananéia in the state of São Paulo; Cerro Azul, Castro, Carambeí, and Tijucas do Sul in the state of Paraná; and Joinville and Garuva in the state of Santa Catarina.