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Tag: rare earth

  • Meteoric secures $50m EFA backing for Caldeira project in Brazil

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    Meteoric Resources has secured a non-binding, conditional letter of support (LoS) for financing of up to $50m (A$74.71m) from Export Finance Australia (EFA) to back its Caldeira rare earth project in Brazil.

    The funding is aimed at enabling the engagement of Australian engineering, procurement, construction, and management contractors for the Caldeira development.

    It is expected to strengthen cooperation between Australia and Brazil by bolstering supply chain support within the Caldeira project.

    In addition to the support from EFA, the Caldeira project obtained a $250m letter of interest from the US Export-Import Bank in March 2024, establishing a strong base for the project’s financing.

    Meteoric remains in ongoing discussions with the Brazilian Development Bank, other export credit agencies and potential strategic investors to optimise the funding structure for Caldeira.

    According to the company, this LoS underscores the commitment of Australia’s export credit agency to promoting exports in the global rare earths sector, while helping to strengthen supply chain diversification.

    The company plans to continue its engagement with EFA and other partners as part of its broader funding strategy.

    Meteoric managing director Stuart Gale said: “We view the LoS from EFA as a strong vote of confidence in Meteoric’s strategy and capability to become the next major supplier of critical rare earth materials. This endorsement will assist with the broader project financing discussions under way for the Caldeira project and adds flexibility to our funding strategy.

    “The recent approval of our Preliminary Environmental Licence without restriction, commissioning of our pilot plant and first production of a mixed rare earth carbonate, the Caldeira project is now positioned as one of the world’s most advanced, highest confidence, high-grade rare earth developments.”

    The Caldeira project consists of 77 licences, collectively covering more than 193km² in the south-west of Minas Gerais State, Brazil, near the city of Poços de Caldas.

    Last June, MTM Critical Metals signed a non-binding memorandum of understanding with Meteoric to improve the processing of mixed rare earth carbonate from the latter’s Caldeira rare earth project.

    “Meteoric secures $50m EFA backing for Caldeira project in Brazil” was originally created and published by Mining Technology, a GlobalData owned brand.

     


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  • Tensions remain high as China and EU prepare Brussels meeting on rare earths

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    A planned meeting between EU Trade Commissioner Maros Šefčovič and his Chinese counterpart was cancelled on Friday, as the European Commission opted for expert-level talks to defuse tensions over Beijing’s rare-earth export controls, which EU leaders are calling economic coercion.

    The get-together will be held both online and in person in Brussels, as the Commission has been under pressure since Thursday night from the 27 member states, who have called on it to work on a strong response to the unfair trade practices of international partners — first and foremost, China.

    The announcement comes right after a trip to Beijing by German foreign minister Johann Wadephul was also cancelled, as a spokesperson for his ministry said on Friday, without specifying whether it was China or Germany that called off the trip.

    Beijing is accused by its European counterparts of weaponising rare earth exports, for which it has imposed a Kafkaesque licensing regime since 9 October.

    These minerals are key for EU industries, such as the automotive, defence, Greentech and digital sectors.

    “It is economic coercion,” French President Emmanuel Macron said Thursday after a European summit, but without specifically recommending the use of what is considered a trade defence “nuclear option,” the “Anti-Coercion Instrument”.

    In response to Chinese trade threats, Europeans adopted in 2023 a toolkit to counter third-country state pressure through measures such as tariffs or restrictions on access to public procurement, licenses, or intellectual property rights.

    To trigger it, a qualified majority of the 27 member states is required, which is not guaranteed given their differing views.

    Pressure from the EU’s 27 members

    “We talked about the anti-coercion Instrument, but we did not make any decision,” German Chancellor Friedrich Merz said after the summit.

    Not all member states defend the same interests vis-à-vis the Asian giant, given their economic ties with Beijing.

    Under pressure from France, however, the 27 leaders agreed in their conclusions of the EU summit on the need for the Commission “to make effective use of all EU economic instruments” to deter or counter external threats.

    Related

    Because the China issue continues to grow for the EU, Macron pointed to “a Chinese economy that invests heavily, following a logic of dumping.”

    Dumping allows China to sell its products cheaply on the European market than on its domestic one.

    Europeans, particularly in the steel sector, are experiencing this as they contend with China’s production surplus.

    Facing US tariffs, Beijing also redirect its exports toward the European market, Macron said, putting additional pressure on the EU.

    “Investigations need to be launched to look into this, and a much more systematic approach to economic security is required,” the French president added.

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  • China tightens rare earth export controls, targets defence, semiconductor users

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    BEIJING (Reuters) -China tightened its rare earth export controls on Thursday, expanding restrictions on processing technology, unauthorised overseas cooperation and spelling out its intention to limit exports to overseas defence and semiconductor users.

    Exports of technology used to mine and process rare earths or make the associated magnets is barred without permission, the Ministry of Commerce said in a statement. Many of these technologies are already restricted and it was not immediately clear what the new rules will add.

    China added several rare earths and related material to its export control list in April, however Thursday’s announcement explicitly said licenses are unlikely to be granted for defence companies as well as certain users in the semiconductor sector.

    Chinese companies are also barred from working with companies overseas on rare earths without permission from the ministry.

    (Reporting by Liz Lee in Beijing; Editing by Christian Schmollinger)

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  • ePropelled Announces Joint Development Agreement With USA Rare Earth for Supply of Neo Magnets for Drone Technology

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    USA Rare Earth Will Produce Lightweight, Powerful Magnets Needed for Production of Uncrewed Air, Land and Sea Vehicles


    LACONIA, N.H., August 5, 2025 (Newswire.com)
    –
    ePropelled, Inc., a global leader in advanced propulsion and energy management technologies, has signed a joint development agreement (JDA) with USA Rare Earth, Inc. (USAR) to develop a strategic supply and purchase relationship providing sintered neo magnets for use in ePropelled’s state-of-the-art motors, which are used in a multitude of uncrewed air, land, and sea vehicles (commonly referred to as drones).

    “We’re thrilled to partner with USA Rare Earth to secure the rare earth materials essential to our uncrewed vehicle solutions,” said Nick Grewal, ePropelled’s founder, Chairman and CEO. “Expanding our supply chain – both in the U.S. and globally – is key to meeting the high expectations of our customers and staying ahead in this fast-moving industry.”

    Sintered magnet technology, specifically developed for high-performance permanent magnets, involves precision processing of rare earth alloys to deliver unmatched magnetic strength and stability. USAR will immediately begin prototyping neo magnets for use in ePropelled’s high-performance motors, controllers, generators, and power management systems from its Oklahoma manufacturing plant. ePropelled’s systems are used in uncrewed vehicles (UAV) for air, land, and sea – from large-payload aerial drones and long-range defense applications, as well as for small surveillance and commercial drone designs.

    “This agreement is another milestone in our efforts to fill our 2026 pipeline and work through the development and qualification process with customers across industries as we complete the commissioning of our Stillwater manufacturing facility,” said Joshua Ballard, CEO of USA Rare Earth. “We are very pleased to partner with such an innovative company as ePropelled, a global leader in magnetics engineering and a proven pioneer in the design and production of electric propulsion solutions. We look forward to working with the ePropelled team to develop a true partnership in providing Made-in-the-USA designated high-quality, high-performance magnets for use in their pioneering and innovative solutions.”

    Operating worldwide, ePropelled serves a broad customer base that spans aerospace, defense, industrial automation, and maritime industries. The company’s technologies are used in mission-critical applications including long-endurance surveillance drones, robotic ground vehicles, and autonomous marine vessels. Its compliance with international defense standards (e.g., NDAA) and focus on domestically manufactured components make it especially attractive to governments and OEMs seeking secure, export-ready solutions.

    About ePropelled

    Based in Laconia, NH, USA, ePropelled is a leading global technology provider specializing in smart propulsion and energy management systems for uncrewed vehicles for air, land and sea. Founded in 2018, ePropelled holds 49 patents and serves customers worldwide from its New Hampshire headquarters and manufacturing center, supported by R&D and operations facilities in the U.K. and India. ePropelled products are engineered to optimize performance, reduce energy consumption, and support the speedy transition to a sustainable future. For more information, contact ePropelled at info@epropelled.com, call 603-236-7444 or visit ePropelled.com.

    About USA Rare Earth

    USA Rare Earth is building a vertically integrated, domestic rare earth magnet production supply chain. USAR is currently constructing a 310,000-square-foot rare earth sintered neo magnet manufacturing facility in Stillwater, Oklahoma. USAR also controls mining rights to the Round Top Mountain rare earth and critical minerals deposit in West Texas, which holds significant deposits of heavy rare earths, such as dysprosium and terbium, as well as gallium, beryllium, lithium and other critical tech minerals. USAR’s permanent neo magnets and rare earth minerals are required for a wide variety of products used in the defense, automotive, aviation, industrial, medical, and consumer electronics industries. For more information, please visit USARE.com and connect with us on LinkedIn and X.

    Source: ePropelled, Inc.

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  • China issues rare earth regulations to further protect domestic supply

    China issues rare earth regulations to further protect domestic supply

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    BEIJING (Reuters) – China has unveiled a list of rare earth regulations aimed at protecting supplies in the name of national security, laying out rules on the mining, smelting and trade in the critical materials used to make products from magnets in electric vehicles to consumer electronics.

    The regulations, issued by the State Council or cabinet on Saturday, say rare earth resources belong to the state, and that the government will oversee the development of the industry around rare earths – a group of 17 minerals of which China has in recent years become the world’s dominant producer, accounting for nearly 90% of global refined output.

    Their global industrial significance is such that under a law that entered into force in May the EU set ambitious 2030 targets for domestic production of minerals crucial in the green transition – particularly rare earths due to their use in permanent magnets that power motors in EVs and wind energy.

    EU demand is forecast to soar sixfold in the decade to 2030 and sevenfold by 2050.

    The new Chinese regulations, which will take effect on Oct. 1, say the State Council will establish a rare earth product traceability information system.

    Enterprises in rare earth mining, smelting and separation, and the export of rare earth products, shall establish a product flow record system, shall “truthfully” record the flow, and shall enter it into the traceability system, the State Council said.

    China already last year introduced restrictions on exports of the elements germanium and gallium, used widely in the chip-making sector, citing the need to protect national security and interests.

    It also banned the export of technology to make rare earth magnets, in addition to imposing a ban on technology to extract and separate rare earths.

    Those rules fanned fears that restrictions in rare earth supplies might help increase tensions with the West, particularly the United States, which accuses China of using economic coercion to influence other countries. Beijing denies the claim.

    China’s rare earths regulations also come as the EU gears up to impose provisional tariffs on Chinese EVs on July 4 to protect the 27-state bloc from what it says is a flood of EVs produced with unfair state subsidies, though both sides have said they plan talks on the proposed tariffs.

    (Reporting by Ryan Woo; Editing by David Holmes)

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