Weekly News Review March 23 – March 29 2026

Hostilities in the Middle East kept news from the critical minerals sector relatively sparse this week. However, several notable developments emerged, including the EU and Australia finalizing their long-awaited trade agreement and a U.S. rare-earth company announcing a major milestone.

EU AND AUSTRALIA MOVE CLOSER, FREE TRADE DEAL MOVES FORWARD –

Europe could improve access to critical raw materials.

Since the summer of 2018, the EU and Australia have been negotiating a free trade agreement. On Tuesday, both sides announced the conclusion of the talks, allowing the next steps toward implementation to proceed. In practice, the agreement will give Australia significantly easier access to the European market. Europe, in turn, expects better security of supply chains for critical raw materials such as lithium, manganese, and aluminium. Australia is also home to the rare earth producer Lynas. In addition, the agreement includes provisions on sustainable trade, labour standards, and climate protection.

As a next step, the final treaty texts will be published and reviewed through the EU’s internal procedures before approval by the Council of the European Union and the European Parliament is required. In parallel, Australia must ratify the agreement at the national level. Only after these procedures have been completed on both sides can the free trade agreement officially enter into force.

UNITED STATES : ENERGY FUELS USA SUCCESSFULLY PRODUCES TERBIUM:

First U.S.-based production of the heavy rare earth element in decades.

Energy Fuels has produced the first high-purity terbium oxide at the White Mesa Mill in Utah as the first U.S.-based company in decades to do so. The pilot-scale output follows earlier production of dysprosium oxide, with commercial-scale recovery of both materials targeted in the coming months.

Heavy rare earths such as dysprosium and terbium are essential for high-performance permanent magnets used in electric vehicles, robotics, aerospace, and defense systems, but global supply remains highly concentrated in China. Energy Fuels used U.S.-sourced feedstock for its pilot project, but added that it also aims to use feedstock from projects in allied nations.

The milestone comes as Chinese export controls introduced in 2025 continue to limit overseas shipments of heavy rare earths. Recent trade data show sharply lower exports of dysprosium and terbium at the start of the year, further tightening supply for international markets.  

Meanwhile, across the Pacific, Australia’s Lynas Rare Earths is also pushing to diversify its rare earth portfolio. The company recently announced the expansion of production in its Malaysian separation facility, adding samarium oxide to its output.  

AUSTRALIA: LYNAS AND LS ECO ENERGY PLAN COOPERATION IN RARE EARTHS –

The rising demand for rare earth metals from non-Chinese producers needs to be addressed.

The Australian mining company Lynas, the largest producer of rare earths outside China, intends to cooperate along the supply chain for these critical raw materials with the South Korean company LS Eco Energy Ltd. According to an agreement announced on Thursday (PDF), Lynas will have rare-earth oxides further processed into metals at a new LS Eco Energy facility in Vietnam. As reported by Reuters, operations are scheduled to begin in the fourth quarter of 2026.

The metals produced there could subsequently be used in the United States for the manufacture of permanent magnets, where the parent company, LS Cable & Systems, is planning a corresponding factory. These magnets are essential for numerous technologies, ranging from electric mobility to wind power generation.

Through this partnership, Lynas aims to meet the growing demand for rare earth materials produced outside China and to expand its production capacity. Initial priority will be given to samarium, an element that Lynas has only recently begun offering. This material is particularly relevant for military applications.

FIGURE OF THE WEEK:  – $120 BILLION PLUS   – HAS BEEN INVESTED BU CHINA IN THE MINING AND PROCESSING OF CRITICAL MINERALS SINCE 2023