Neo Performance Materials' Rare Earth Facility Modernization Selected as EU Strategic Project

MT newswire2026/10/14 10:36

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06:36 AM EDT, 10/14/2026 (MT Newswires) -- The European Commission has designated Neo Performance Materials' (NEO.TO) Silmet 2.0 modernization program in Estonia as a strategic project under the Critical Raw Materials Act. The modernization program for Neo's rare earth separation facility is expected to triple capacity, expand heavy rare earth separation and allow for the processing of new and higher value feedstock sources, the company said Tuesday. The commission selected Silmet 2.0 as one of 46 projects in 16 member states. It is the only rare earth processing project in the selection.

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