2025-05-23
Canadian Neo Performance Materials announced on May 22 that it has exited its rare earth separation facility in China. The exit is the conclusion of a strategic review it launched last year. The company said it has sold its majority stake in two rare earth separation facilities in China, but the specific value has not been disclosed.
The rare earth company also divested its gallium trichloride business in Quapaw and closed the hydrometallurgical part of its niobium tantalum business. Neo expects its permanent magnet plant in Europe to be completed on time and on budget and to begin commercial production in 2026.
