Meteoric Resources NL (MEI) RIU Explorers Conference 2026 summary

Project Highlights and Resource Overview

• The project in Brazil hosts the world's largest high-grade ionic clay rare earth resource, with 666Mt measured and indicated at 2,685ppm TREO and a maiden ore reserve of 103Mt @ 4,091ppm TREO, supporting a mine life exceeding 100 years.

• The resource is low-cost, with simple extraction, high metallurgical recoveries, and a low strip ratio.

• Located in a brownfields mining jurisdiction, the project benefits from established infrastructure, renewable energy, water, road, port, and telecommunications access.

• The team has deep expertise in geology, downstream rare earths, and finance, supporting rapid advancement.

Recent Progress and Development Milestones

• Pre-feasibility study completed for southern licences, with pilot plant commissioned in December 2025 achieving targeted 70% recovery of magnetic rare earths.

• Preliminary environmental license and buffer zone approval received, enabling construction and installation licensing.

• Maiden Ore Reserve established, with significant scope for future growth and less than 10% of the resource included in the current mine plan.

• Agreements signed for power supply and offtake, with ongoing discussions for downstream separation partnerships and strong government and strategic funding interest.

• Pilot plant is producing mixed rare earth carbonate, with recoveries exceeding earlier test results.

Market Context and Strategic Positioning

• Global demand for neodymium iron boron magnets is expected to more than double by 2050, driven by electrification, robotics, and EVs.

• Robotics and AI revolution projected to require 1.7Mt of rare earth magnets by 2040, a 480-fold increase from 2025 levels.

• The project aims to supply about 5% of global demand for key rare earths, including heavy magnetic elements in short supply.

• The rare earth market is experiencing geopolitical shifts, with Brazil positioned as a key supplier outside China amid US, EU, and China competition.