Canada Rare Earth has entered into a long-term rights agreement to purchase all of the rare earth concentrate to be produced from the Mata Azul property in Tocantins, Brazil. The mineral rights are owned by Mineracao Mata Azul SA.
Canada Rare Earth and Mata Azul are continuing to work collaboratively to establish a funded rare earth business which will focus on advancing exploration, mining and concentrating various rare earth minerals on the Mata Azul property.
The week’s biggest mover on the weekly Rare Earths MMI® was the price of europium oxide, which saw a 5.5 percent decline to CNY 2,600 ($422.29) per kilogram. This week marked the third in a row of declining prices for the metal. Terbium metal saw a 4.8 percent drop-off this week to end at CNY 4,000 ($649.68) per kilogram. After a 2.6 percent decline, neodymium closed out the week at CNY 375,000 ($60,908) per metric ton.
Praseodymium neodymium oxide fell 1.6 percent over the past week to CNY 305,000 ($49,538) per metric ton. Closing at CNY 15,000 ($2,436) per metric ton, cerium oxide remained unchanged for the week. At CNY 15,000 ($2,436) per metric ton, the price of cerium oxide did not change since the previous week. At CNY 1,450 ($235.51) per kilogram, the week finished with no movement for dysprosium oxide.
Neodymium oxide traded sideways last week, hovering around CNY 295,000 ($47,914) per metric ton. Prices for praseodymium oxide remained constant, closing the week at CNY 530,000 ($86,083) per metric ton. At CNY 25,000 ($4,061) per metric ton, the price of rare earth carbonate did not change since the previous week. Closing at CNY 18,500 ($3,005) per metric ton, samarium oxide remained unchanged for the week.
At CNY 2,800 ($454.78) per kilogram, the week finished with no movement for terbium oxide. Yttria prices held steady from the previous week at CNY 40,000 ($6,497) per metric ton. Prices for yttrium remained constant, closing the week at CNY 270.00 ($43.85) per kilogram.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.