This week, it was the countries bordering the Indo-Pacific region that dominated the news on critical raw materials. You can find an overview of the most important developments in our roundup.
U.S., Japan, Australia, and India Seek to Mobilize $20 Billion for Critical Minerals
The United States, Japan, Australia, and India — agreed this week to make major investments in critical mineral supply chains. At their meeting in New Delhi, the foreign ministers of the four Quad countries adopted a new framework designed to make the supply of strategically important minerals more secure, diversified, and resilient. According to the partners, up to $20 billion in public and private funding could be mobilized.
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Brazilian Rare Earth Producer Viridis Targets Western Buyers
Australian mining company Viridis plans to sell output from its Brazilian rare earth project Colossus primarily to customers in the United States and Europe. The company is currently in talks with potential buyers, while cooperation with China is not under consideration, CEO Rafael Moreno told Reuters. Located in the Brazilian state of Minas Gerais, Colossus is expected to reach full production capacity by the end of 2028. The deposit consists of ion-adsorption clays, the main source of highly sought-after heavy rare earth elements such as dysprosium and terbium.
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Rare Earths: US and India Seek Closer Cooperation
Indian Foreign Minister Subrahmanyam Jaishankar on Tuesday announced the signing of a strategic agreement with the United States on critical minerals and rare earths. The agreement is intended to cover the entire value chain, including mining, processing, recycling and related investments.
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Rare Earths and Phosphorus: LKAB Receives Environmental Permit for Extraction Facility
The Swedish state-owned mining company LKAB has received environmental approval for its planned industrial park for critical minerals. At the Luleå site in northern Sweden, rare earth elements and phosphorus are to be extracted. The raw material will consist of currently unused by-products from LKAB’s iron ore mine, located in Gällivare, about a three-hour drive away.
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