Quarterly rare earths update - April 2024
Ellie Saklatvala, Senior Editor — Nonferrous Metals, provides a bitesize overview of the key price movements that happened in Q1 and how supply and demand fundamentals are shaping up as we move through Q2.
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EGA agrees to export Al through UAE’s east coast
EGA agrees to export Al through UAE’s east coast
London, 1 October (Argus) — UAE-based Emirates Global Aluminium (EGA) has signed an agreement with port operator Gulftainer to expand its aluminium exports from the UAE's east coast, bypassing much of the contested strait of Hormuz. EGA will export 250,000t of aluminium through ports on the east coast in the first year of the agreement, rising to 300,000t in the second year, with potential for further increases in the following years. Gulftainer will further develop its port facilities to accommodate EGA. Aluminium exports from the Middle East have been severely impacted by the US-Iran war and the closure of Hormuz. Producers in the region have been exploring alternative routes to maintain deliveries, with Saudi Arabia's Ma'aden trucking material to the port of Jeddah on the country's west coast, for example. "We have already made considerable progress diversifying our outbound logistics to ensure reliable deliveries. Today's agreement with Gulftainer is another important step forward," EGA chief executive Abdulnasser Bin Kalban said. By Jethro Wookey Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EIB proposes critical raw materials price index
EIB proposes critical raw materials price index
London, 1 October (Argus) — A critical raw materials price index derived from anonymised transaction data could reduce uncertainty for investors and support Europe's critical raw material goals, European Investment Bank (EIB) vice-president Nicola Beer told the European Parliament this week. Greater transparency is needed in volatile and fragmented critical minerals markets in order to provide investors with clearer signals on prices, demand and future prospects, Beer said. Beer proposed an international price index that would require market participants to conduct transactions through designated trading platforms or report relevant transaction data. This would be validated by established price reporting agencies. The mechanism should use the transaction data already available in critical raw material markets, she said. Beer also highlighted the need to connect market intelligence more directly with investment decisions to guide capital effectively. She said Europe's critical raw materials challenge is not primarily mining, but rather understanding exposure, bottlenecks, and where investment can make the greatest difference. The EIB is developing a "heat map" to identify where disruption will have the greatest industrial consequences, which bottlenecks can realistically be addressed, and what types of investment would best reduce them. Critical raw materials remain high on Europe's political agenda, with policymakers working to provide a stable framework — including through the latest multi-annual financial framework, the EU's long-term spending plan that sets maximum annual budget limits for at least five to seven years. While the EIB helps drive investment in viable projects, to fund higher-risk projects and strengthen Europe's critical raw materials pipeline, it needs mandates, equity and risk-sharing instruments, Beer said. "Europe will not eliminate every external dependency," Beer noted. "But Europe must identify where dependence creates unacceptable risks and act where it can make a difference." By Cristina Belda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indonesia's first Oct nickel HPM falls to 5-month low
Indonesia's first Oct nickel HPM falls to 5-month low
Singapore, 1 October (Argus) — Indonesia's mineral reference prices (HMA) for nickel and cobalt declined to their lowest levels this year in the first pricing period of October, pushing the benchmark price (HPM) for nickel ore to a five-month low since the introduction of cobalt, iron and chromium into nickel ore valuation on 15 April . The Ministry of Energy and Mineral Resources (ESDM) set the nickel HMA at $16,322.67/t, down $375.33/t from the second pricing period of September. The decline reflected weakness in London Metal Exchange (LME) nickel prices, which traded in a range of roughly $16,000-16,700/t, the lowest levels seen this year. Prices were under pressure given expectations of improving ore availability and sluggish demand from both the stainless steel and battery sectors. The cobalt benchmark price dropped by $11,657/t to $41,047.33/t. LME cobalt prices fell below $40,000/t for the first time since October 2025, reflecting persistent weakness across the cobalt supply chain. Market sentiment remained bearish as buying interest stayed muted and feedstock availability increased, prompting many participants to maintain short positions in anticipation of further price declines. Meanwhile, the chromium benchmark price was unchanged at $6.37/t, while the iron benchmark price eased by $0.02/t to $1.45/t. Using a nickel ore specification of 1.5pc nickel, 0.05pc cobalt, 1pc chromium and 20pc iron, the corresponding nickel ore benchmark price (HPM) was calculated at $56.22/wet metric tonnes (wmt), down $2.28/wmt from the second pricing period of September. By Sheih Li Wong Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia’s Lynas to acquire Brazilian NdPr, DyTb mine
Australia’s Lynas to acquire Brazilian NdPr, DyTb mine
Sydney, 1 October (Argus) — Australian rare earth miner and refiner Lynas will acquire Australian mining company Meteoric Resources, giving it control over the 4,000 t/yr Caldeira rare earths mine in Brazil, Lynas announced today. The acquisition, which values Meteoric at around A$968mn ($675mn), will add an estimated 802,000t of neodymium and praseodymium (NdPr) oxides and 41,000t of dysprosium and terbium (DyTb) oxides to Lynas' reported mineral resources. The Caldeira mine will produce around 3,862 t/yr of NdPr and 127 t/yr of DyTb over its lifetime, Lynas estimated. Lynas aims to close the deal, which remains subject to conditions including shareholder approval, by March 2027. Caldeira contains both light and heavy rare earth elements and is the largest known ionic clay Joint Ore Reserves Code (JORC) rare earth oxide (REO) mineral resource outside China, the company said. Lynas' existing portfolio includes the Mount Weld NdPr mine in Western Australia (WA), a rare earths processing facility in Kalgoorlie, WA, and the Kuantan refinery in Malaysia. Lynas produced 7,260t of saleable NdPr in the financial year to 30 June 2026. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.