Mosaic and Rainbow Rare Earths Advance Uberaba Rare Earths Project in Brazil

Core Viewpoint - Mosaic and Rainbow Rare Earths are advancing the Uberaba rare earths project in Brazil, focusing on a prefeasibility study with the aim of progressing to a definitive feasibility study later in 2026 [1] Group 1: Project Development - The joint project development agreement aims to evaluate the responsible recovery of critical materials from existing phosphate operations [1] - The project is expected to treat approximately 2.7 million tonnes per year of phosphogypsum, producing 1,900 tonnes of separated neodymium and praseodymium oxide, and 600 tonnes of a SEG+ product rich in medium and heavy rare earth elements [1] - Initial production is targeted for 2030, contingent on further studies, regulatory approvals, and successful project execution [1] Group 2: Economic Assessment - The preliminary economic assessment indicates compelling economics, including an internal rate of return above the hurdle rate and a relatively short payback period [1] - The capital-intensive mining activities for rare earth elements are expected to be largely incorporated within existing fertilizer operations [1] Group 3: Company Background - Mosaic is a leading producer and marketer of potash and phosphate fertilizer, essential for global agriculture, with operations in over 40 countries [1] - Rainbow Rare Earths specializes in recovering rare earth elements from phosphogypsum, allowing for quicker and lower-cost project advancement compared to traditional mining [1]