Barrick changes CFO as overhaul continues ahead of possible IPO

Bloomberg News | January 19, 2026 | 

Stock image.

Barrick Mining Corp. appointed Helen Cai as chief financial officer, replacing Graham Shuttleworth whose departure adds to a string of senior exits at the Canadian miner amid speculation it could be acquired or broken up.

Cai, who has served on Barrick’s board since 2021, will take up the role of CFO and senior executive vice president on March 1, the company said Monday. Shuttleworth, who has been with Barrick since its acquisition of Randgold Resources in 2019, will work with Cai to ensure a smooth handover, the company added.

The announcement comes at a time of uncertainty for one of the world’s largest gold miners after the abrupt exit of Mark Bristow as chief executive officer in September.

Interim CEO Mark Hill has continued to shake up management since then — with several other leaders departing after Bristow — as the company weighs a potential initial public offering for its North American gold assets. The new vehicle is likely to become an acquisition target for Newmont, according to analysts including National Bank Financial analyst Shane Nagle.

Bloomberg reported last year that Newmont Corp. had studied a deal to gain control of the two companies’ prized Nevada mines, though its unclear how receptive Barrick would be to any overtures.

Barrick shares rose as much as 2.4% in Toronto Monday as precious metals extended their record-breaking rallies.

(By Sybilla Gross)

NI

Brazilian Nickel, Westwin ink offtake MOU on Piauí project for US market 

 

Staff Writer | January 20, 2026 | 

PNP1000 is the initial, small scale commercial production project at Piauí nickel project. (Image courtesy of Brazilian Nickel.)

UK- based Brazilian Nickel (BRN), announced Tuesday that it has signed a non-binding agreement with Westwin Elements to supply high-grade Mixed Hydroxide Precipitate (MHP). 

Under the deal, BRN would sell Westwin up to 10,000 tpa of nickel in MHP and circa 240 to 400 tpa of cobalt in MHP extracted from the Piauí nickel project in Brazil, using the company’s low-CO2 laterite heap leaching process.  

Westwin would then refine the MHP into class 1 nickel powder and briquettes for the US market, advancing the goal of establishing a cost-effective critical minerals supply chain and supporting the overall funding of Brazilian Nickel’s flagship Piauí project, the company said.  \ 

“This agreement with Westwin not only strengthens Brazilian Nickel’s funding structure, but, more importantly, confirms our proven capability to produce high-quality nickel and to position ourselves as a key player in the global critical minerals market,” Brazilian Nickel CEO Mark Travers said in a news release.  

“It underscores BRN’s strategic role in reinforcing supply chain resilience and our commitment to being a reliable, long-term partner to customers in key markets,” Travers said. 

“Establishing dependable supply-chain relationships is essential to restoring US refining capacity,” Westwin CEO KaLeigh Long said. “This agreement advances Westwin’s mission to convert responsibly produced feedstock into Class 1 materials inside the United States, strengthening supply chain security for advanced manufacturing and critical defense applications.” 

Brazilian Nickel last year signed preliminary offtake agreements with European processors Electro Mobility Materials Europe SAS and Königswarter & Ebell Chemische Fabrik, a wholly-owned subsidiary of Pure Battery Technologies, to strengthen the European battery supply chain and advance cleaner material sourcing, it said.  

BHP’s potash blowout overshadows Australia iron ore record

Bloomberg News | January 19, 2026 |

Construction at the Jansen potash project. (Image courtesy of BHP.)

BHP Group, the world’s largest miner, has again blown past cost estimates for its key Jansen potash project in Canada, raising projected investment in the first phase to $8.4 billion — $1 billion above the upper range of an already revised budget announced last year.

Cost and schedule overruns on large projects are not unusual in the sector, but potash — a key plank of BHP’s strategy as all miners scramble for growth — was approved in August 2021 at $5.7 billion. First production is now expected in the middle of 2027, though a second stage of development is still under review.

Production numbers released on Tuesday for the miner’s current core mines were broadly in line with analyst estimates, including record first-half output at its Australian iron ore operations. It produced 69.7 million tons of iron ore overall in its second quarter, up 5% on the same period a year ago, and reaffirmed its annual production guidance.

Realized prices for iron ore edged higher to $84.71 per ton. BHP has been locked in a dispute with China, the top consumer of its steelmaking ingredient, for months. State-owned trader China Mineral Resources Group Co. has sought to curb steel mills’ purchases from BHP, as part of a broader effort to increase the country’s negotiating clout and constrain miners’ pricing power.

The Melbourne-based miner said in its statement that it had responded by being more flexible with shipments, but added it had “seen some impact” to its selling price for iron ore. Other major foreign producers, including Brazil’s Vale SA, Rio Tinto Group, and Fortescue Ltd. will also need to negotiate with CMRG.

“China’s commodity demand remains resilient, supported by targeted policy measures and solid exports,” BHP chief executive officer Mike Henry said, adding momentum moderated in the second half of 2025, “notably in construction, manufacturing and infrastructure investments.”

Iron ore futures have managed to hold their ground in the last calendar year, gaining about 4% in 2025, but new supply could pressure prices lower over the coming quarters.

Production of copper dipped 4% in the three months to the end of December, to 490,500 tons. Realized prices jumped, however, as benchmark levels continue to track higher, breaking through $13,000 a ton.

BHP’s appetite to add to that number prompted it to make takeover approaches for rival Anglo American Plc., all rebuffed. The target has since agreed to tie up with fellow copper heavyweight Teck Resources Ltd. Rival Rio Tinto Group, meanwhile, is in talks with Glencore Plc over a potential takeover, again motivated by the desire to become a stronger force in the red metal.

BHP has bought two undeveloped projects in partnership with Canada’s Lundin Mining Corp. which they have dubbed Vicuña bordering Chile and Argentina. A technical report into Vicuña is expected in the coming months.

BHP’s Australia shares were little changed in early Tuesday trading at A$48.785.

(By Paul-Alain Hunt)

RIGHT WING GOVT

Former BHP executive to be appointed Chile’s mining minister

Bloomberg News | January 20, 2026 

Vizcachitas copper project. (Image courtesy of Los Andes Copper).

A former BHP Group executive will become Chile’s next mining minister, overseeing efforts to boost copper and lithium production in the nation with the world’s largest reserves.

Santiago Montt, who has a doctorate in law from Yale University, will be named to President-Elect José Antonio Kast’s cabinet in a ceremony Tuesday evening, according to a person with knowledge of the matter. Newspaper Diario Financiero reported his appointment earlier Tuesday.

Montt has served as chief executive officer at Vancouver-based Los Andes Copper Ltd. for the past three years, after previously handling corporate affairs at BHP Minerals Americas for over a decade. He will take over from Aurora Williams as minister when Kast is sworn in on March 11.

The mining industry is hoping Kast’s pro-business agenda will help companies to accelerate expansion projects after decades of mostly stagnant copper production amid declining ore quality.

Montt has first-hand experience with the challenges of developing mining projects in Chile. As CEO of Los Andes Copper he’s been trying to move forward the Vizcachitas project in the face of resistance from communities concerned about environmental impacts.

“The incoming minister faces the critical task of accelerating a substantial $105 billion backlog in mining investments, while simultaneously revising and amending imminent reforms to the permitting framework and environmental assessment processes,” said Cesar Perez-Novoa, an analyst at BTG Pactual in Santiago.

Montt, a lawyer who also has a master’s degree in political science from Princeton University, didn’t immediately respond to a request for comment. Kast’s office declined to comment.

(By James Attwood)

LI

Portugal’s Lifthium wins $210 million grant for lithium refinery

Reuters | January 20, 2026 

The Estarreja chemical complex. Credit: Bondalti

Portugal’s Lifthium Energy has been awarded a 180 million euro ($210 million) government grant to build a lithium refinery in the country’s north for the fast-growing electric vehicle battery market.

With 60,000 metric tons of reserves, Portugal is Europe’s top lithium producer, supplying mainly the ceramics industry. It has only recently sought to produce battery-grade lithium.

The company said the non-refundable grant was awarded under the European Union’s Temporary Crisis and Transition Framework, which allows state incentives to speed the green and industrial transition.

Lifthium, 85% owned by Portuguese conglomerate Jose de Mello with the remainder by its subsidiary Bondalti, will build the refinery in the northern town of Estarreja, about 50 km (31 miles) south of Porto.

Bondalti, Portugal’s largest chemicals producer, already operates sites there and Lifthium aims to start operations by 2030.

Lifthium CEO Duarte Braga said the project was advancing “with rigour and prudence”, as the lithium market and Europe’s industrial environment had become significantly more challenging over the past two years.

He said the public incentive was important, but the focus now was on securing a strategic partner and firming up market and financing conditions before a final investment decision.

In addition to the Estarreja plant, Lifthium may build another refinery in Spain, he said.

The company is aiming for annual refining capacity of 50,000 tons of lithium hydroxide, enough to supply batteries for two million EVs, using proprietary technology designed to meet Europe’s environmental and industrial standards.

The government hopes to launch a long-delayed tender for lithium prospecting licences this year, seen as key to building a domestic lithium value chain and cutting Europe’s reliance on imports from countries including China.

($1 = 0.8594 euros)

(By Sergio Goncalves; Editing by Mark Potter)

FE

Ferrexpo halts Ukraine operations, furloughs staff after power grid attacks

Reuters | January 20, 2026 | 

Ferrexpo’s mine in the Poltava region of central Ukraine.

Ferrexpo said on Tuesday it has halted mining operations in Ukraine and furloughed part of its workforce after Russia’s renewed attacks on the country’s power network disrupted electricity supplies.

The suspension will remain in place until power can be provided consistently at required levels, the company said.

Ferrexpo added there were no fatalities or injuries among staff and that its assets were undamaged.

In November, the miner reported interruptions to production and exports after Russian drone and missile strikes hit regional power infrastructure, though limited operations continued using restored electricity and existing stocks of intermediary non-finished and finished iron ore products.

(By Aatrayee Chatterjee; Editing by Shilpi Majumdar and Sahal Muhammed)

BHP still has iron ore pricing power despite discounts, RBC says

Bloomberg News | January 20, 2026 | 

BHP is China’s third-biggest iron ore supplier. (Image courtesy of BHP.)

BHP Group’s iron ore discounts following Chinese pressure are “optical, temporary and economically bounded” and don’t reflect a decline in the mining giant’s pricing power, according to RBC Capital Markets.

The world’s largest mining company is deliberately absorbing the discounts to protect pricing, analyst Kaan Peker wrote in a research note, adding the real risk would be benchmark fragmentation. By holding the line on index structure, BHP is preserving long-term value, he said.

BHP has been in a months-long dispute with state-owned trader China Mineral Resources Group Co., which has sought to curb steels mills’ purchases from the miner as part of a broader effort to increase the country’s negotiating clout. BHP said on Tuesday it had seen some impact, and that it had responded by being more flexible with iron ore shipments.

The miner’s Jimblebar iron ore fines are trading at a discount of 9% to 10% to the index, and could see a floor of 12% to 15%, Peker wrote in the note dated Jan. 19. Mill productivity losses and substitution dynamics will limit further widening, he said. MAC fines are at a moderate discount around 4% to 7%, while Rio Tinto Group’s Pilbara Blend are around parity to a slight discount.

Iron ore futures on the Singapore Exchange fell 0.9% to $103.70 a ton at 10:57 a.m. local time, down for a sixth session. Futures on the Dalian Exchange and Shanghai steel contracts also declined.

(By Katharine Gemmell)

 

DRC pitches manganese, copper, cobalt, lithium to US

Cecilia Jamasmie | January 20, 2026 |

Gecamines’ Mutoshi copper-cobalt project is one of the assets in Congo’s shortlist. (Image courtesy of Trafigura.)

The Democratic Republic of Congo has handed the United States a vetted list of mining and processing projects open to American investment, signalling Washington’s most concrete move yet to chip away at China’s grip on critical minerals.

The shortlist, delivered to US officials last week, spans Kisenge’s manganese, gold and cassiterite licences, Gecamines’ Mutoshi copper-cobalt project and a germanium-processing venture, Sokimo’s four gold permits, Cominiere’s lithium licences, and Sakima’s coltan, gold and wolframite assets, according to two people familiar with the matter quoted by Reuters. 

The projects are intended for US investors to review under a minerals partnership and mark tangible progress in translating peace and investment talks with Congo into leverage over its supply chains, the sources said.

The move follows a Dec. 4 accord that gives US companies privileged access to Congo’s vast reserves of copper, cobalt, lithium and tantalum, materials critical to electric vehicles, defence systems and advanced electronics. Congo is the world’s second-largest copper producer and the top supplier of cobalt, a key battery metal.

Turning point

The renewed focus on securing overseas supply comes as US metals policy enters what analysts see as a turning point. BMO analysts Helen Alamos and George Heppel said in a note on Tuesday that President Trump’s reassertion of the Monroe Doctrine as part of the US National Security Strategy marks an inflection point in how markets assess future US metals inventories.

They said investors are increasingly betting that the large volumes of metal accumulated by the US over the past year, particularly copper, will soon be released, easing tight supply elsewhere and pushing prices lower. However, the analysts cautioned against assuming a drawdown is inevitable, arguing inventories could continue to rise over the months and years ahead, potentially approaching levels last seen during the Cold War.

“The pathway for US metals inventory from here is now probably the single most important debate for the metals complex right now,” Alamos and Heppel said, noting that Trump’s second term has already seen the largest build so far in copper, followed by platinum and palladium.

Congolese officials said the list went through several rounds of internal vetting and represents Kinshasa’s most direct offer yet to Washington, adding they were not authorized to speak publicly.

China’s hold

Chinese companies such as CMOC, Zijin and Huayou dominate copper and cobalt production in the DRC, where the metals are often mined together, while US firms have historically stayed away because of conflict, corruption and logistical hurdles.

Kinshasa hopes American capital can dilute that dominance after years of Chinese expansion. In 2007, Congo granted Chinese miners tax breaks running to 2040 in exchange for $9 billion in promised investment, of which about $6 billion materialized, as Western governments showed little appetite to curb sales to Chinese buyers.

By the time US President Donald Trump returned to office in January 2025, Chinese firms controlled about 80% of Congo’s mining output, including Tenke Fungurume, once US-owned and now the world’s second-largest source of cobalt, operated by CMOC.

The minerals pact sits within a broader US-brokered peace agreement between Congo and neighbouring Rwanda aimed at ending decades of violence in eastern Congo. Under the so-called Washington Accords, the US will help oversee a regional peace process in return for Congo facilitating American investment, even as fighting persists in parts of the country.

Washington has identified 60 critical minerals essential to technologies ranging from weapons systems to wind turbines and semiconductors, many predominantly supplied by China, and the administration has argued that securing alternative supplies is a strategic priority.

(With files from Reuters)

US proposed SECURE Act aims to offset China’s grip on critical minerals

Amanda Stutt | January 20, 2026 | 

US Congress. Credit: Wikimedia Commons

US lawmakers last week introduced bipartisan legislation to create a new authority for a $2.5 billion critical minerals stockpile, aiming to counter China’s dominance of global supply chains.

The proposed Securing Essential and Critical US Resources and Elements (SECURE) Minerals Act would establish a Strategic Resilience Reserve (SRR) to support domestic production and processing of minerals vital to electrification, clean energy and national defense.

China currently controls over 60% of the world’s mined rare earths and about 90% of their processing. The Asian nation also holds a major share of the refined production of lithium, graphite and cobalt, all minerals key to electrification, clean energy and national defense.

For lithium, China has created a huge glut that has driven down prices globally, rendering many projects in the West unprofitable. In the rare earth sector, it deployed export curbs that have also resulted in high prices.

US Senators Jeanne Shaheen (D-NH) and Todd Young (R-IN), alongside Representatives Rob Wittman (R-VA-01) and John Moolenaar (R-MI-02), introduced new legislation to support domestic supply chains to meet national and economic security needs through the creation of a new SRR.

The legislation has been introduced on a bicameral and bipartisan basis, reflecting early alignment across chambers and parties.

Critical minerals have emerged as a key chokepoint in the global economy, the lawmakers said.

The SECURE Act would establish the SRR in an independent government corporation, run by a seven-member board appointed by the President and confirmed by the Senate.

“China’s global dominance of critical minerals supply chains gives it significant leverage and leaves the US vulnerable to economic coercion. This bipartisan legislation is a historic investment in making the US economy more resilient and supporting good-paying jobs in key sectors like aerospace, autos and technology,” Senator Shaheen said in a news release.

“Delivering much-needed stability to the market, providing targeted investments and stockpiling key inputs will help insulate the US from foreign threats and will provide a significant, and cost effective, boost to the US economy.”

Path to law

Sahar Hafeez, senior counsel, international trade and national security matters at Pillsbury Winthrop Shaw Pittman’s Washington DC office told MINING.COM such legislation takes time and will involve subsequent edits and versions on the path to being passed into law.

“We understand that the House Committee on Natural Resources is looking to schedule a mark-up and that the Senate is aiming for including this as part of the NDAA (US National Defense Authorization Act),” Hafeez said in an email.

The bill establishes new statutory authority to create a $2.5 billion strategic reserve, rather than relying on pre-existing stockpiling frameworks. It does not amend legacy statutes such as the Strategic and Critical Materials Stock Piling Act of 1939, she confirmed.

“From a national security and supply-chain resilience perspective, the legislation prioritizes domestic projects and US-based supply chains, as well as initiatives that incorporate recycling and unconventional feedstocks,” Hafeez said.

“It also targets materials where US import dependence is effectively 100%, which could potentially include projects from foreign sources, particularly where DFC (Development Finance Corporation) authorities are leveraged. The legislation also provides that partner governments, upon approval by the Reserve, can make capital contributions for financing and acquiring for the Reserve.”

As Congress debates the details, the SECURE Act signals growing urgency in Washington to address mineral supply vulnerabilities.

Whether through this bill or a revised successor, lawmakers appear increasingly aligned on one point: securing critical minerals will remain a central pillar of US economic and security policy in the years ahead.

Critical minerals firm weighs plan to build US rare earth plant

Bloomberg News | January 21, 2026 | 

Atlantic Strategic Minerals’ mineral processing facilities in Virginia. Image: ASM.

Atlantic Strategic Minerals, a small US mining company, is considering building a rare earths plant in a bid to join America’s push for domestic production of key materials.

The facility would be at the company’s operations in Stoney Creek, Virginia, about 150 miles from Washington, DC, where it already produces some critical minerals and rare earth elements as a byproduct, according to Michael Scherb, chief executive officer of Appian Capital Advisory, which owns Atlantic Strategic Minerals.

“We’re debating now what we should do with the byproduct,” Scherb said Tuesday in an interview. “You can separate it and you can produce rare earths, but you need a refining facility.”

The decision follows the Trump administration’s push to loosen China’s grip on rare earth minerals, which are essential for products ranging from smartphones and electric vehicles to fighter jets. China controls the vast majority of the world’s rare earth mining and processing capacity, leaving US industries exposed to potential supply shocks.

Appian, which has about $5 billion of assets under management, is one of a few investment firms dedicated to the mining sector, alongside the likes of Orion Resource Partners and Resource Capital Funds. Atlantic Strategic Minerals started commercial operations in June, where it now produces niche minerals like ilmenite — a primary material used in titanium — and zircon, a source for the metal zirconium, which is used in nuclear reactors.

Scherb said Appian has held conversations with the White House seeking government support for the plant, which he estimated would cost under $100 million to build. The firm also is looking at processing domestic and international materials from third—party companies beyond its own operations, including Appian-owned Gippsland Critical Minerals, which has a rare earths project in Australia.

Companies have announced a flurry of investment plans for critical mineral projects in the US in light of President Donald Trump’s efforts to secure domestic supplies. Korea Zinc Co. — one of the world’s largest zinc processors — is planning a $7.4 billion smelter in Tennessee, while MP Materials Corp. is building a rare earths separation plan in California.\

Atlantic Strategic Minerals’ facility would be considerably smaller but easier to achieve, said Scherb.

“These grand, huge mega-projects — you don’t need to pursue those,” he said. “You can actually look at more cost-effective, strategic ways to get supply out, whether it be through recycling or better use of the byproduct that comes out of operations like these.”

(By Jacob Lorinc)

Energy Fuels to buy Australian Strategic Materials in $300M deal

Reuters | January 20, 2026 | 

ASM’s Korean metals plant. Credit: Australian Strategic Materials

US uranium producer Energy Fuels has agreed to pay a large premium for Australian Strategic Materials (ASM), as the United States bolsters efforts to secure Western supply chains for rare earth elements.

Energy Fuels will acquire the rare earths firm in a deal valuing the Australian firm’s equity at A$447 million ($300.9 million), the two parties said in separate statements on Wednesday.

The deal, which represents a 121% premium on ASM’s close from January 20, sent shares of the Australian producer soaring as much as 126% to A$1.63.

The buyout is significant for the US, which is looking to lock in Western supply for the metals used in applications such as wind farms, mobile phones and missiles. Australia and the US signed a framework agreement for cooperation around critical minerals including rare earths last year, each pledging to invest $1 billion.

That investment, which will cut the risk for other stakeholders, is part of a suite of government policies that are expected to spur more sector consolidation, said law firm White and Case in a report this week.

“We are already seeing it (consolidation), and we’re going to continue to see it, because everyone recognizes that…rapid establishment of the supply chain you are going to need multiple parties who are working together,” ASM CEO Rowena Smith told Reuters in an interview.

Under the deal, shareholders of ASM would receive 0.053 Energy Fuels shares for each ASM share held, along with a special dividend of up to A$0.13 per ASM share, representing a total implied value of A$1.60 per ASM share.

ASM’s board has unanimously recommended that ASM shareholders vote in favour of the transaction in the absence of a superior proposal, it said.

Upon completion, the transaction will combine ASM’s operating Korean metalization plant and its planned American metals plant with Energy Fuels’ existing rare earth oxide production at its White Mesa Mill in Utah.

It will also have a number of development projects. In Australia that will include ASM’s Dubbo rare earths project in New South Wales, the Donald project in Victoria, as well as the Vara Mada project in Madagascar and the Bahia project in Brazil.

Energy Fuels could rank among top rare earth producers in West, study shows

They are all intended to supply feed materials for the planned expansion of the company’s White Mesa Mill to produce 6,000 tonnes per annum (tpa) neodymium-praseodymium (NdPr), 240 tpa dysprosium, and 66 tpa terbium oxides.

Prices of rare earths have been rising as Western countries scramble to reduce dependence on China. In response, Australia has been considering setting a price floor and new international partnerships to support rare earths projects and build alternative supplies.

Australia’s Lynas Rare Earths is the world’s largest rare earths producer outside China. It produced 10,462 tons of rare earth oxides in the 2025 financial year.

($1 = 1.4857 Australian dollars)

(By Himanshi Akhand and Melanie Burton; Editing by Alan Barona, Chris Reese and Jacqueline Wong)

Lynas Rare Earths’ quarterly revenue surges as higher prices offset lower production

Reuters | January 20, 2026 | 

Lynas’ rare earths come from the Mount Weld mine in Western Australia. (Image courtesy of Lynas.)

Australia’s Lynas Rare Earths reported a 43% rise in second-quarter revenue on Wednesday, as higher selling prices eclipsed a production shortfall caused by power disruptions at its ore processing plant.

Prices of rare earths have been rising as Western countries scramble to reduce dependence on China. In response, Australia has been mulling a price floor and new international partnerships to support rare earth projects and build alternative supplies.

Lynas, the world’s largest producer of rare earths outside China, said the selling prices rose in tandem with higher benchmark prices for the elements.

The average selling price for Lynas’ product range was A$85.6 per kilogram during the quarter, higher than A$49.2 per kg a year ago.

The upbeat sentiment has also spilled over to January, Lynas said in its statement.

Rare earth elements are crucial for green-energy applications and are used in electric vehicles and smartphones, among other applications.

The company’s total rare earth oxide output was 2,382 metric tons, lower than 3,993 metric tons in the previous quarter, as power outages at its Kalgoorlie facility in Western Australia hampered production.

Last year, the firm said there had been a substantial rise in power supply disruptions at the facility, with outages in November resulting in a significant loss in mixed rare earth carbonate (MREC) production.

The Perth-headquartered firm said it had been working to secure off-grid solutions to ensure power stability at the facility.

The Kalgoorlie plant produces MREC, which is later processed into high-purity rare earth oxides.

Lynas posted sales revenue of A$201.9 million ($135.98 million) for the quarter ended December 31, compared with A$141.2 million a year ago.

($1 = 1.4848 Australian dollars)

(By Rajasik Mukherjee and Jasmeen Ara Shaikh; Editing by Sahal Muhammed)

Lynas CEO says government policies are improving rare earths market

Reuters | January 21, 2026 | 

Amanda Lacaze, CEO of Lynas Rare Earths. (Image: Kristie Batten | MINING.COM.)

Government policies around floor prices for rare earths have improved the function of the market and helped lift prices to sustainable levels, Amanda Lacaze, the CEO of Lynas Rare Earths said on Wednesday.

Lacaze made the comments as the world’s top rare earths producer outside China reported lower production but higher revenue from sales of the materials critical for green-energy infrastructure, electric vehicles, smartphones and defence.

Government policy is seen as a key driver of critical minerals markets this year, as nations seek to secure long-term supply separate from top producer China, and Lacaze’s comments highlight that policy action is having its intended effect.

Additionally, the easing of China’s export controls has reduced a glut there, boosting the domestic Chinese benchmark against which Lynas sells much of its supply, she said in a call with analysts after Lynas released its second-quarter results.

“I think everyone understands that the market settings remain positive, and in fact, in some ways, they’ve even become more positive during January,” Lacaze said.

“(The) price continues to strengthen, and frankly, geopolitics continue to be our friend, although we are yet to finalize various agreements with governments, the policies which have been particularly implemented by the US government have already fostered more functional market dynamics.”

Lacaze pointed specifically to the US government’s support of minimum prices for producer MP Materials and related discussions about support for floor prices between governments including Australia and the world’s top seven most advanced economies.

Prices should reflect costs

The floor price policy discussions are the most important talks Lynas is having with governments, she said. They are crucial for the company to sell rare earths at a level competitive with its lower-cost Chinese rivals.

“We don’t need governments to be buying our product. We need customers to be buying our product, and we need those customers to buy our product at prices that properly reflect the cost of doing business,” she said.

Lynas reported a 43% rise in second-quarter revenue on Wednesday as the higher selling prices eclipsed a production shortfall caused by power disruptions at its ore processing plant in Western Australia. Shares rallied 6%.

The average selling price for Lynas’ product range was A$85.60 ($57.69) per kg during the quarter, higher than A$49.20 per kg a year ago.

The upbeat price sentiment has also spilled over to January, Lynas said in a statement announcing the earnings.

The company’s total rare earth oxide output was 2,382 metric tons, lower than the 3,993 tons produced in the previous quarter, as power outages at its Kalgoorlie facility hampered production.

Last year, Lynas said there had been an increase in power supply disruptions at Kalgoorlie, with outages in November causing significant losses in mixed rare earth carbonate (MREC) production. The MREC from Kalgoorlie is later processed into high-purity rare earth oxides.

The Perth-headquartered firm said it had been working to secure off-grid solutions to ensure power stability at the facility, including considering using diesel fuel. While some power issues have been rectified, they are ongoing, said Lacaze, who is retiring after 10 years as CEO.

“As recently as yesterday, we had two significant power outages,” she said.

Lynas posted sales revenue of A$201.9 million ($136.08 million) for the quarter ended December 31, compared with A$141.2 million a year ago.

($1 = 1.4837 Australian dollars)

(By Rajasik Mukherjee and Jasmeen Ara Shaikh; Editing by Sahal Muhammed and Christian Schmollinger)

Viridis targets US, Europe rare earth deals amid China pushback

Bloomberg News | January 19, 2026 | 

Drilling at the Colossus rare earth project in Brazil. Image from Viridis Mining.

Viridis Mining and Minerals Ltd. is in talks with prospective buyers of rare earths mined in Brazil, as Western nations look to reduce their reliance on China for elements used in electric vehicles and wind turbines.

The Australian-listed mineral developer is holding discussions with potential off-takers from the US and Europe and intends to sign up multiple buyers, including rare earth refineries and magnet makers, Brazil country manager Klaus Petersen said in an interview.

The negotiations include setting a minimum price for output from Viridis’ $360 million Colossus project in the state of Minas Gerais, Petersen said. A floor price would provide protection against low prices set in China, which accounts for about 90% of global rare earth permanent magnet production.

The talks come as Europe and Brazil move closer to a political agreement on critical raw materials. European Commission President Ursula von der Leyen has said such a deal would frame cooperation on joint investments in lithium, nickel and rare earths — materials she described as central to strategic independence in “a world where minerals tend to become an instrument of coercion.”

Brazil holds the largest rare earth reserves after China but has little commercial production. The country is seeking to tap much more of its geological potential, while junior miners developing critical minerals projects push for financial guarantees to better access funding.

Viridis plans to make a final investment decision in the second half of the year, with a view to starting production by 2028.

(By Mariana Durao)

China rare earth product exports fall as Japan spat draws focus

Bloomberg News | January 19, 2026 |

Stock image.

China’s rare earth product exports declined in December compared with the previous month, as investors monitor heightened tensions between Beijing and Japan that could trigger tighter shipment controls.

Outbound flows of the materials — used in electric vehicles, weapons systems and high-tech manufacturing — totaled 6,745 tons, down from 6,958 tons in November, according to customs data released on Sunday. The category is largely dominated by rare earth magnets, a product that’s provided China with critical leverage in a series of trade disputes that have jolted markets.

Rare earths have emerged as a flash point in trade relations in recent years, with the US and other nations seeking to challenge China’s dominance of their mining and processing. Although Beijing and Washington reached a trade truce in October, easing strains, attention has since shifted to Japan after China’s Ministry of Commerce announced controls on shipments to the country with potential military applications. The announcement followed remarks made last year by Japan’s prime minister over Taiwan.

Beijing is also mulling stricter scrutiny of the licenses to ship the minerals to the country, the China Daily reported, following the ministry’s statement.

The export figures released on Sunday cover shipments to all destinations and do not provide a breakdown by geography or product type. More detailed data is expected on Tuesday.

(By Jessica Zhou)