Industry News

On January 17, 2025, the US Department of Defense announced a $5.1 million allocation to Rare Resource Recycling Inc. under the Defense Production Act.

It is reported that on January 1, 2025, the Ministry of Commerce, the National Bureau of Statistics, and the State Administration of Foreign Exchange officially implemented the revised “Regulations for Outward Direct Investment Statistics.”

According to Magnet Materials News, on January 9, 2025, Canada Rare Earth Corp. announced plans to acquire a 70% stake in a rare earth refinery in Laos. This acquisition aims to enhance supply security and economic benefits.

On December 13, 2024, China’s Ministry of Industry and Information Technology (MIIT) and three other departments issued the Action Plan for Enhancing Standards to Guide the Optimization and Upgrading of the Raw Materials Industry (2025–2027).

On December 11, 2024, Madagascar’s Council of Ministers approved the resumption of development for the Toliara project in southwestern Madagascar by Energy Fuels, one of the largest uranium producers in the United States. The project had been on hold for five years.

The global neodymium-iron-boron magnet market size reached US$ 15.6 Billion in 2023. Looking forward, the market is projected to reach US$ 28.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.76% during 2023-2032.