Neo Performance Materials Signs MOU for 40% of Phalaborwa NdPr and 65% of SEG+ Output

Highlights

• Neo Performance Materials will secure offtake rights to 40% of Phalaborwa's NdPr oxide and 65% of its SEG+ mixed carbonate containing Dy and Tb.
• Phalaborwa holds a JORC resource of 35 Mt grading 0.44% TREO in above-ground phosphogypsum, requiring no conventional mining circuit.
• Neo is already conducting technical due diligence and helping design Phalaborwa's final solvent-extraction separation circuit, with test work underway in Estonia.
• Rainbow targets construction in 2027 and first production in 2028, meaning physical tonnes remain years away despite growing supply chain credibility.