Meteoric Resources clears key approvals and delivers pilot production at Brazilian rare earths project

Meteoric Resources NL ( (AU:MEI) ) has shared an update.

Meteoric Resources has advanced its Caldeira rare earths project in Brazil, securing a key Preliminary Environmental License that enables it to lodge the final Installation License application needed to begin construction, keeping the project on track for first production in 2028. The company successfully constructed and commissioned a pilot plant at Poços de Caldas, which has produced its first batches of mixed rare earth carbonate, validated key processing stages including full process water recycling, and begun treating ore from the Capão do Mel deposit to support its Definitive Feasibility Study and resource-to-reserve conversion drilling. In parallel, Meteoric consolidated its land position by acquiring 21 additional licences to create a contiguous 67km² southern project area, signed a renewable power supply contract with Brazilian utility CEMIG, and reported a strong cash position alongside indicative support for project financing, collectively reducing development risk and strengthening its strategic position in the global rare earth sector.

The most recent analyst rating on (AU:MEI) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Meteoric Resources NL stock, see the AU:MEI Stock Forecast page.

More about Meteoric Resources NL

Meteoric Resources NL is an Australian-listed exploration and development company focused on rare earth elements, with its flagship Caldeira Project in the Poços de Caldas region of Brazil. The company is targeting production of mixed rare earth carbonate for Western markets, positioning itself within the global supply chain for critical minerals used in high-tech and clean energy applications.

Average Trading Volume: 9,505,908

Technical Sentiment Signal: Buy

Current Market Cap: A$660.9M

Learn more about MEI stock on TipRanks’ Stock Analysis page.