Meteoric Resources has released a definitive feasibility study for its Caldeira rare earth project in Brazil that confirms the asset as a premier, long-life source of low-cost rare earths.
The study validates Caldeira as the largest rare earth ionic clay reserve and resource known outside of China, paving the way for upcoming offtake agreements and project financing.
Situated in the mining-friendly state of Minas Gerais, Caldeira’s updated ore reserve stands at 151 million tonnes grading 3,524 ppm total rare earth oxide (TREO).
The mine plan forecasts average annual production of 3,862 tonnes of neodymium-praseodymium (NdPr) and 127 tonnes of dysprosium-terbium (DyTb), with magnetic rare earth recoveries reaching 71 per cent.
Meteoric CEO Stuart Gale said: “The DFS confirms Caldeira as a low capital intensive, low operating cost, long life asset containing abundant light and heavy magnetic rare earth elements essential to permanent magnet production.
“Caldeira is positioned to become a significant long-term supplier of rare earth materials, into global markets, at a time when demand for rare earth materials continues to be driven by electrification, renewable energy, advanced manufacturing and defence applications.”
The project benefits from low-cost ionic clay mining dynamics compared to hard-rock deposits, alongside strong infrastructure access.
Construction will be powered entirely by renewable energy via a 29-kilometre power line deal with Brazilian energy provider CEMIG.
The project is slated to create approximately 1,200 jobs during construction and 520 permanent operational roles, with over 80 per cent of its tenure remaining unexplored, providing substantial expansion upside.
Having already secured its preliminary licence, Meteoric expects to receive its construction license in the fourth quarter of 2026.
A final investment decision will follow the granting of the licence and the conclusion of project financing.
