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Evolution Metals & Technologies Secures 754 Tonnes of Neodymium, Targets $460 Million Revenue

Nov 2, 2026

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Highlights

  • EMAT secured 754 tonnes of neodymium-praseodymium via Senri Trading and SRE Vietnam, but only 42 tonnes (5.6%) have been delivered so far.
  • The company projects $400–460 million in 2027 revenue against $10–11 million in 2026 guidance, representing roughly 39–42 times growth.
  • EMAT's Pohang facility is expanding from ~1,000 to over 10,000 tonnes annual magnet capacity using 57 containers of ULVAC equipment, but commissioning and customer qualification remain unproven.
  • CEO Frank Moon acknowledges continued Chinese sourcing, meaning non-China procurement does not yet establish company-wide supply chain independence.

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By Daniel

Inspired to launch Rare Earth Exchanges in part due to his lifelong passion for geology and mineralogy, and patriotism, to ensure America and free market economies develop their own rare earth and critical mineral supply chains.

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Evolution Metals & Technologies secured 754 tonnes of non-China neodymium for South Korean magnet ops, but delivery gaps and 42x revenue growth targets (read full article...)

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