Friday's essential market data briefing for institutional capital in rare earth elements. **Market Pricing Data:** - Neodymium: $147.00/kg (+52.97% YTD) - Praseodymium: $141.90/kg (+47.66% YTD) - Dysprosium: $453.90/kg (+28.55% YTD) - Terbium: $1,983.40/kg (+42.03% YTD) - NdPr oxide: 632,000 yuan/tonne ($88/kg) - highest since March 2023 **Project Economics Updates:** - Shenghe Resources completes £200M takeover of Peak Rare Earths' Ngualla Project - US Energy Department allocates $60M for critical mineral programs - Aclara Resources secured $5M DFC funding for Brazil Carina project - JS Link America investing $223M for Georgia magnet facility creating 520+ jobs **Separation Plant Construction:** - Lynas Texas refinery: 85% probability EPA permit approval Q3 2025, concrete pour Q1 2026, commercial production Q2 2028 - Meteoric Resources secures Brazil government approval for pilot plant, targeting October 2025 operations - Energy Fuels set to supply Vulcan Elements with NdPr and dysprosium oxides Q4 2025 - Saskatchewan Research Council commenced NdPr metal production summer 2025 - Neo Performance Materials' Estonia plant operational September 2025 - Critica's Vietnam pilot plant operational September 2025 **Pentagon Activity:** - Metallium's Flash Metals Texas awarded gallium recovery contract A$100,000 - DoD $500M cobalt tender launched August 22, 2025 - $1B funding package announced August 13, 2025, disbursements mid-2026 **Market Projections:** - REE market: 196.63 kilotons (2025) to 260.36 kilotons (2030) - 5.80% CAGR - Neodymium: 9.20% CAGR through 2030 - Global EV sales: +27% through first seven months 2025, reaching 10.7M units Pure market data for institutional allocators in rare earth elements and critical minerals. Your competitive edge in the world's most critical elements.

Thursday's essential briefing for institutional capital navigating the rare earth elements transformation. **Recycling Revolution Accelerating:** - HyProMag USA secures $92M EXIM Bank financing for Dallas-Fort Worth integrated recycling facility - Apple and MP Materials' $500M joint investment driving US rare earth magnets recycling - Cyclic Materials opening $25M Canadian facility in Q1 2026, processing 500 metric tons annually **Manufacturing Scale-Up:** - JS Link America investing $223M for rare earth permanent magnet facility in Columbus, Georgia, creating 520+ jobs - Neo Performance Materials' Estonia plant beginning operations in September 2025 - Europe's first domestic NdFeB magnet factory - E-VAC Magnetics' $94.1M award for commercial-scale magnet manufacturing by 2025 **Project Economics Deep Dive:** - Aclara Resources securing $5M DFC development funding for Brazil's Carina heavy rare earths project - ABx Group's Tasmania project achieving 70%+ extraction rates for heavy rare earths - Critical Metals and Ucore's 10-year offtake agreement for 10,000 metric tons annually from Greenland **Market Dynamics:** - Global rare earth recycling market projected from $588M in 2025 to $1.01B by 2033 (7.0% CAGR) - REE market growing from 196.63 kilotons in 2025 to 260.36 kilotons by 2030 (5.80% CAGR) - China's enhanced oversight requiring monthly product flow data uploads to national traceability platform **Strategic Positioning:** The shift from mining-focused to processing-focused investments creates unprecedented opportunities for institutional allocators who understand the sector transformation. Recycling economics, manufacturing scale-up, and government financing converge to reshape rare earth capital allocation. Essential listening for institutional investors, project sponsors, and capital allocators in rare earth elements and critical minerals. Your competitive edge in the world's most critical elements.

Wednesday's essential intelligence for institutional capital navigating the $500B+ rare earth elements market. **Market Surge Analysis:** - NdPr oxide climbs 40% since July to $88/kg - two-year highs validate domestic production thesis - Terbium metal at $1,983/kg (+42% YTD) - heavy rare earth momentum accelerating - Dysprosium at $454/kg (+28.5% YTD) - institutional-scale price action driven by supply reconfiguration **Geopolitical Intelligence:** - China's August 22 quota expansion to imported raw materials - Beijing consolidating total supply chain control - 93.3% collapse in rare earth magnet exports to US - supply chain war metrics that matter - MP Materials halts China shipments, DoD partnership driving two-year price highs **Capital Formation Surge:** - $4.7 billion deployed across 23 rare earth projects in 2024-2025 - DOE announces nearly $1B critical minerals funding with $135M for REE demonstration facility - Lynas completes A$750M placement, launches "Towards 2030" strategy **Pentagon Contract Intelligence:** - Vulcan Elements secures $10M+ across all military branches - Metallium awarded Phase 1 SBIR for gallium recovery technology - DoD's "mine-to-magnet" strategy reshaping sector economics **Investment Thesis:** Heavy rare earths potentially decoupling from Chinese benchmarks. Dysprosium projected to hit $1,100/kg by 2034 as defense spending and EV demand create structural supply deficits. Essential listening for institutional investors, project sponsors, and capital allocators capable of $50M-$500M deployments in rare earth elements and critical minerals. Your competitive edge in the world's most critical elements.