US rare earth company REalloys announced that it is partnering with the Saskatchewan Research Council (SRC) of Canada to build a heavy rare earth metal facility. The equipment will be built at SRC’s Saskatoon plant and, after commissioning, relocated to Ohio to supply dysprosium and terbium to clients in the US defense industrial base and to the Defense Logistics Agency’s strategic reserves. The facility will cost $40 million and is expected to produce 30 mt of dysprosium metal and 15 mt of terbium metal annually. Initial operations are targeted for early to mid-2027, with full commercial operations expected from mid-2027 to year-end.

During Trump's visit to Saudi Arabia, US companies accompanying him announced a series of investment or cooperation plans in the country. In addition to numerous tech firms, there was also a US rare earth miner. MP Materials, a US rare earth company, recently signed a memorandum of understanding with Saudi Arabia's flagship mining company, Ma’aden, to jointly develop a rare earth supply chain in the Kingdom. The collaboration will encompass the mining, separation, refining of rare earth minerals, and magnet production. "Today's announcement marks a significant first step towards rebalancing the global supply chain, at a time of transformative growth driven by emerging technologies, particularly robotics and physical AI, while also deepening the strategic alliance between the US and Saudi Arabia," said James Litinsky, CEO of MP Materials, in a press release. The press release noted that rare earth magnets are indispensable components in key technology sectors such as transportation, energy, robotics, and aerospace. This collaboration will leverage Saudi Arabia's highly competitive energy base, world-class infrastructure, and strategic location to diversify and expand the global rare earth supply chain, thereby meeting the growing demand from rapidly expanding industries. President Trump's visit to Saudi Arabia proved to be highly fruitful, with Saudi Arabia pledging to invest at least $600 billion in the US in the future, covering energy, defense, and mining sectors. Additionally, multiple tech firms, including Nvidia, AMD, Google, and Oracle, announced cooperation with or investment and construction plans in Saudi Arabia. Saudi Arabia has been striving to become a significant global mineral hub, particularly for copper, nickel, and rare earth minerals, which are becoming essential for technology-focused economies. According to data from the Saudi Geological Survey, the country has proven rare earth reserves of approximately 3.2 million mt, accounting for 1.5% of the global total, but its smelting technology is virtually non-existent. MP Materials is the owner of the only operational Mountain Pass rare earth mine in the US. Although it has the capacity to produce over 40,000 mt of rare earth concentrate annually, the smelting and processing of its minerals have long been carried out almost entirely in China. The essence of the collaboration between the two parties lies in the complementary nature of resources and markets: Saudi Arabia provides funding, mineral development rights, and the advantage of being a regional hub, while MP Materials contributes its mine operation experience and some separation technologies, striving to establish a complete rare earth industry chain from raw materials to final products. However, building a complete rare earth industry chain is no easy feat and may take several years or even decades to fully realize. Currently, China's rare earth industry chain holds an absolute leading position globally, with rare earth ore reserves exceeding 40 million mt, accounting for approximately 40% of the global total; its production of rare earth smelting and separation accounts for about 90% of the global output.

【SMM Breaking News: US Rare Earth Company Reaches Rare Earth Production Agreement with StudBuddy】US Rare Earth Company has reached an agreement with StudBuddy to produce rare earth magnets in the US. The two parties are discussing a multi-year supply agreement, under which US Rare Earth Company will provide approximately 20 mt/year of sintered NdFeB magnet products. To achieve a vertically integrated supply chain for rare earth magnet production, US Rare Earth Company is constructing a 310,000-square-foot sintered new magnet manufacturing facility in Stillwater, Oklahoma. In March this year, US Rare Earth Company launched an advanced innovation laboratory at its manufacturing facility in Stillwater and is expected to begin prototyping new-type magnets in Q2.

JL MAG Rare-Earth responded that in 2024, the company's capacity utilization rate exceeded 90%. The production of high-performance magnetic material blanks reached approximately 29,300 mt, up 39.48% YoY, while the sales of high-performance magnetic material finished products reached approximately 20,900 mt, up 37.88% YoY, both setting record highs for the company. According to publicly available industry statistics, the company has become the top-ranked enterprise in terms of production and sales in the rare earth permanent magnet industry both domestically and globally.

JL MAG Rare-Earth responded: Throughout 2024, the company's capacity utilization rate exceeded 90%. The production of high-performance magnetic material blanks reached approximately 29,300 mt, up 39.48% YoY, while the sales of high-performance magnetic material finished products reached approximately 20,900 mt, up 37.88% YoY, both setting new historical highs for the company. According to publicly available industry statistics, the company has become the top-ranked enterprise in terms of production and sales in the rare earth permanent magnet industry both nationally and globally.

The Alto Hill project of Brazil Rare Earth Company exhibits excellent mineralization characteristics. The total rare earth oxides (TREO) grade of the project reaches 45.7%, while the grades of niobium oxide, scandium oxide, tantalum oxide, and uranium are 1.7%, 0.0382%, 0.0962%, and 0.5781%, respectively. The TREO grade of this ore ranks among the highest globally, and the ore body's strike and depth remain uncontrolled.

[SMM Commentary: USA Rare Earth Drives Development of Rare Earth Industry Chain in the Western Hemisphere, Intensifying Global Market Competition] According to a report by Mining.com, USA Rare Earth (USARE) has made significant progress at a new facility in Stillwater, Oklahoma, successfully producing its first batch of rare earth permanent magnets.

The Malaysian government has announced a three-year extension of the operating license for Lynas, an Australian rare earth company, in Malaysia until March 2026.

Australia's Northern Minerals said last Tuesday that the Australian government has blocked Yuxiao Fund, its largest shareholder, from increasing the investment on the grounds of national interest.

Domestic: Northern Rare Earth released its list prices in March, and the prices of PrNd products dropped slightly month-on-month.