https://www.miningweekly.com
Export-Import Bank Of Korea|Korea Trade Insurance|Meteoric Resources|Posco International|Australia|Brazil|South Korea|Caldeira Project|Critical Minerals|Electric Vehicles|Motors
|||Motors
export-import-bank-of-korea|korea-trade-insurance|meteoric-resources|posco-international|australia|brazil|south-korea|caldeira-project|critical-minerals|electric-vehicles|motors

Australia's Meteoric Resources ties up with Posco for Brazil rare earths project

Rendering of Meteoric's planned Caldeira project

Rendering of Meteoric's planned Caldeira project

29th July 2026

By: Reuters

  

Font size: - +

Australia's Meteoric Resources said on Wednesday it had signed an agreement with South Korea's Posco International to support development and financing for its Caldeira rare earths project in Brazil, sending its shares sharply higher.

Under the memorandum of understanding, Posco could source up to 30% of Caldeira's rare earth output for as long as seven years, subject to further talks, due diligence and definitive agreements.

Shares of the diversified Australian miner were up 8.6% at A$0.19, while the broader benchmark index was up 1.1% as of 01:05 GMT.

The partnership would help build a supply chain linking Brazil and South Korea for magnetic rare earths, which are used in electric vehicle motors, robotics, data centres and defence equipment. Posco is building a mine-to-magnet supply chain.

The deal also allows Posco to explore a potential equity investment in Meteoric and support project financing through South Korean policy lenders, including the Export-Import Bank of Korea and Korea Trade Insurance Corporation.

The companies will also study technology cooperation and ways to help develop rare earth processing in Brazil.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.066s - 115pq - 2rq
Subscribe Now