Meteoric Resources NL (AU:MEI) has released an update.
Meteoric Resources NL has struck a preliminary deal with Neo Performance Materials to supply 3,000 metric tonnes of rare earth oxides annually from its Caldeira Project in Brazil, marking an important step towards the company’s goal of becoming a rare earth producer. This memorandum of understanding could evolve into a binding commercial agreement, situating Meteoric as a key player in the rare earth supply chain and supporting Neo’s European magnet manufacturing operations. The deal not only showcases confidence in the Caldeira Project’s potential but also aligns with Meteoric’s strategy to integrate into the western supply chain for high-demand technology materials.
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