Neo Performance Materials signs MOU with Rainbow Rare Earths for Phalaborwa rare earth offtake
XLB•Supply for European operations
The arrangement targets additional magnet rare earth feedstock for Neo’s European operations from phosphogypsum waste, reducing reliance on new mining.
MOU covers technical support and offtake rights
Neo Performance Materials signed an MOU with Rainbow Rare Earths covering technical support, rare earth separation technology, and offtake from Phalaborwa, South Africa.
Offtake rights cover 40% of annual separated NdPr oxide output and 65% of annual mixed heavy rare earth carbonate production.
Separation circuit work and possible toll treating
Neo will support design and optimization of the final solvent extraction separation circuit; testing is underway in Estonia, with pilot work planned in Johannesburg.
The parties will assess toll treating the remaining 35% of mixed carbonate at Neo facilities, returning separated products to Rainbow.
