https://newsletter.en.creamermedia.com
Construction|Exploration|Manufacturing|PROJECT|Projects|Resources|supply-chain|Manufacturing
Construction|Exploration|Manufacturing|PROJECT|Projects|Resources|supply-chain|Manufacturing
construction|exploration|manufacturing|project|projects|resources|supply chain|manufacturing-industry-term

Meteoric inks rare earths offtake MoU with Neo Performance

2nd May 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Exploration company Meteoric Resources said on Thursday it had entered into a nonbinding memorandum of understanding (MoU) to supply Neo Performance Materials’ Estonia magnet manufacturing with rare earths from its Caldeira project, in Brazil.

Under the contemplated offtake agreement, NPN Silmet, Neo’s rare earth separation facility, will purchase 3 000 t/y of total rare earth oxide (TREO) from Caldeira’s initial production.

Neo will also have the right of first refusal to purchase additional material when the Caldeira project reaches more than 6 000 t/y of TREO.

“This represents Meteoric’s first step in our staged offtake strategy,” said CEO Nick Holthouse.

“Connecting and integrating into the developing alternate rare earth materials supply chain signals strong external market confidence in the Caldeira project’s ability to progress to a formal investment decision and into production,” he added.

Meteoric expects to obtain a construction permit by the fourth quarter of 2025 and aims to start production during the second half of 2027.

TSX-listed Neo Performance CEO Rahim Suleman said the company focused on securing offtake from diverse projects around the world, noting that Caldeira was one of a group of key agreements that it had signed in securing feedstock.

Edited by Creamer Media Reporter

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.105 0.211s - 192pq - 2rq
Subscribe Now