Highlights

• Meteoric Resources receives unanimous unrestricted approval of Preliminary Environmental License for Caldeira ionic clay project in Brazil, the most critical regulatory milestone in the mine permitting process.
• Approval allows immediate advancement to the Installation License application in early 2026, keeping the project on track for the Final Investment Decision by mid-2026.
• Caldeira is positioned as one of the most advanced ionic clay rare earth projects outside China, supporting diversified global supply for defense, electrification, and clean energy technologies.

Meteoric Resources NL (MEI.AX (opens in a new tab)) has achieved a major regulatory milestone in Brazil after receiving unrestricted approval of its Preliminary Environmental License (LP) for the Caldeira Rare Earth Ionic Clay Project in Minas Gerais (opens in a new tab). The license was unanimously approved by the State Council for Environmental Policy (COPAM) following a favorable technical recommendation from FEAM, Brazil’s state environmental authority.

The LP is the most critical environmental approval in Brazil’s mine permitting process, confirming environmental viability, project location, and baseline conditions. Importantly, the approval was granted without restrictions, allowing Meteoric to immediately advance toward the Installation License (LI)—the final permit required to begin construction.

This decision keeps Caldeira firmly on its expedited development timeline, with the LI application expected in early 2026 and approval targeted for June 2026. The approved LP area covers the first development phase, including the Capão do Mel, Soberbo, and Figueira licenses.

The approval follows an extensive regulatory process supported by a 3,000-page Environmental Impact Assessment, nearly a year of baseline environmental studies, municipal public hearings, conservation-area approvals, and site inspections. It also comes shortly after the opening of Meteoric’s pilot plant, reinforcing execution momentum.

From a supply-chain perspective, Caldeira stands out as one of the most advanced ionic clay rare earth projects outside China, positioning Brazil—and Meteoric—as a potential strategic contributor to diversified global rare earth supply, particularly for magnet materials critical to defense, electrification, and clean energy technologies.

With permitting risk materially reduced, Meteoric is now well positioned to finalize feasibility work, pursue binding offtake discussions, and move toward a Final Investment Decision by mid-2026.

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