Record NdPr Oxide Production
NdPr oxide production reached 721 metric tons, marking a 21% sequential increase and a 51% year-over-year increase, setting a new record for the company.
Strong Sales Growth
Sales volumes for separated products showed strong growth, with nearly 20% sequential growth and 30% year-over-year growth.
Strategic Partnerships and Agreements
Commencement of a long-term purchase price agreement with the Department of War and the first $40 million prepayment received from Apple for the production of magnets from recycled materials.
Operational Advancements
Significant progress in the installation of heavy rare earth separation capabilities, targeting commissioning in mid-2026, and advancements in Magnetics segment ramp-up.
Financial Stability
Adjusted EBITDA remained stable year-over-year and sequentially, with expectations of returning to profitability in Q4 2025.