Countries move on rare-earth deals
Brazil, France, Japan and the US are making moves.
Brazil is considering a state-run company focused on rare-earths and critical minerals.
Congressman Rodrigo Rollemberg has proposed Terras Raras Brasileiras SA, or Terrabras, to target minerals research, exploration and commercialisation. The federal government would own a portion of the company and it would follow the pattern of Petrobras.
Brazil’s Workers’ Party representatives have also proposed a similar bill. The ideas are a long way from fruition, but Brazil remains an interesting mineral resource.
Meanwhile, Australia and the US have offered potential financing of up to about AUS$849mln for a rare-earths refinery project by Tronox Holdings.
Export Finance Australia and the US Export-Import Bank issued coordinated letters of support or interest for the project. The agencies also issued letters of support or interest for Ardea Resources Ltd.’s Kalgoorlie nickel project in Western Australia.
France and Japan have announced a rare-earth partnership to reduce dependence on China.
During a Tokyo summit between Emmanuel Macron and Sanae Takaichi, both nations agreed to invest in a refining facility in southern France, backed by the Japan Organization for Metals and Energy Security and industrial partners. France does not have domestic rare-earth mining at scale so questions remain over feedstock sources.
In addition, InfraVia Critical Metals Fund has reached an agreement to invest in Carester, a French rare-earth recycling and separation company. This minority investment would be made alongside USA Rare Earth, a USA-based critical minerals company.
Caremag, Carester’s flagship project, is a magnet recycling and heavy rare-earth separation plant located in Lacq in the South of France.
The facility, scheduled for commissioning in late 2026, will recycle 2,000t of magnets and refine 5,000t of mining concentrate annually.
The Caremag project benefits from the ongoing financial and strategic support of both French and Japanese public bodies.
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