Meteoric inks rare earths offtake MoU with Neo Performance

Exploration company Meteoric Resources said on Thursday it had entered into a nonbinding memorandum (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.