Nasdaq-listed REalloys has confirmed it is fully funded for upgrading the Saskatchewan Research Council (SRC) rare earth processing facility and its planned pilot and commercial metallization facility, with works on the SRC facility due to start in the third quarter.

REalloys targets increased yearly production capacity of 525 t of neodymium and praseodymium (NdPr) metal from SRC, as well as 30 t of dysprosium oxide and 15 t of terbium oxide.

The SRC facility is planned to be a fully integrated, commercial-scale plant that extracts and seperates critical minerals, including by removing uranium and thorium, with REalloys due to expand the plant's capacity and have rights over 80% of its expanded output.

Together with SRC, REalloys plans to advance seperation trials using recycled mixed rare earth oxide feedstock in the second half of the year, targeting seperated material for potential customer qualification as early as the fourth quarter.

The company expects commercial intake of NdPr metal and dysprosium and terbium oxides from SRC in the third quarter of 2027.

Meanwhile, REalloys is advancing engineering and equipment procurement for its planned heavy rare earth metallization facility, which is targeted for commissioning in the first quarter of 2028 and initial operations in the first half of 2028. The facility is planned to have a yearly capacity of 50 t of combined dysprosium and terbium oxide feedstock.

REalloys has committed $58.3-million of capital funding for the SRC facility upgrades and the heavy rare each metallization facility project, which it is funding from existing cash resources with no need for any additional financing transactions.

In respect the heavy rare earth metallization facility, which will be located at the Tooele Army Depot, REalloys expects negotiations with the US Army toward a long-term enhanced use lease at site, in Utah, to be complete by mid-September.

REalloys was awarded the opportunity to design, finance, build and operate a heavy rare earth processing facility at the site, which will mark  North America's first commercial-scale heavy rare earth metallization and processing facility.

REalloys is focused on delivering qualified, allied-nation rare earth metals and alloys including dysprosium, terbium, and neodymium to the US Department of Defense, the US Department of Energy, NASA, the US Defense Industrial Base, and the broader US industrial base.