Additionally, Neo will have the first right of refusal to buy additional rare earth oxide if the project’s annual output exceeds 6,000 metric tonnes.
The exact value of the offtake agreement remains subject to final negotiations between Meteoric and Neo, the companies said in a joint statement.
Meteoric expects to obtain a construction permit for Caldeira by the fourth quarter of 2025 and aims to commence mixed rare earth carbonate production in the second half of 2027.
(By Adwitiya Srivastava; Editing by Anil D’Silva and Subhranshu Sahu)
