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Meteoric Resources Limited (ASX:MEI)

ALERT: Price-sensitive ASX Announcement for MEI
Current share price for MEI : $0.195 0.02 (11.43%)+
Announcement
Release
16 Jul 2026 8:34AM
Price at Release
$0.175
Full Release
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Summary
Meteoric Resources Limited has reported a significant update to the Ore Reserve for its Caldeira Rare Earth Project in Brazil, with a 42% increase in the reserve to 146 million tonnes and a 24% increase in contained TREO to 517,000 tonnes. This enhancement is based on Measured and Indicated Resources and reflects a comprehensive geological and operational understanding of the project. The Caldeira Project, strategically positioned in Brazil, aims to produce essential rare earth materials at a rate of 6 million tonnes per annum for two decades, supported by excellent infrastructure and strategic partnerships. The project's output, particularly in mixed rare earth carbonate (MREC), aligns with rising global demands, and Meteoric Resources is actively securing market opportunities through partnerships and feasibility studies.
Key Points
  • Meteoric Resources Limited announces a 42% increase in the Ore Reserve for the Caldeira Rare Earth Project to 146Mt.
  • The update includes a 24% increase in contained Total Rare Earth Oxides (TREO) to 517,000 tonnes.
  • The Ore Reserve comprises entirely Probable Reserves, derived from Measured and Indicated Resources.
  • The Caldeira Project's strategic location in Brazil offers logistical advantages, being away from urban areas but close to key infrastructure.
  • The project is expected to deliver critical rare earth materials at 6 million tonnes per annum over a 20-year life span.
  • Ongoing feasibility studies support the project's long-term viability and potential for expansion.
  • The mixed rare earth carbonate (MREC) output is positioned to meet growing demands for high-value magnetic rare earth oxides.
  • Meteoric Resources has secured non-binding MOUs with industry players, enhancing the project's market opportunities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.