Royalty Management Holding Corporation has partnered with NeoRe, SpA to develop a strategic rare earth mining project in Chile, targeting valuable heavy rare earth elements critical to emerging technologies and global industries.
The La Marigen Project, located 50 miles north of Concepciòn, encompasses five license areas within ionic adsorption clay deposits containing significant rare earth elements, including Terbium, Dysprosium, Praseodymint, and Neodymium. The project spans over 56,300 acres of mining rights and represents a potentially significant investment in rare earth resource development.
NeoRe’s experienced management team has conducted surface exploration and testing across the region for three years. The company has also established a collaborative partnership with ReElement Technologies Corporation to incorporate localized processing and refining capabilities, enhancing the project’s commercial viability.
Global demand for heavy rare earth elements is projected to increase dramatically, driven by renewable energy expansion, electric vehicle production, and advanced technological applications. The International Energy Agency estimates rare earth element demand could rise three to seven times by 2040, with the global rare earth metals market expected to grow from $6.2 billion in 2024 to $16.1 billion by 2034.
Thomas Sauve, Chief Executive Officer of Royalty Management, highlighted the strategic importance of the investment, noting the project’s significant presence of heavy rare earth minerals like Terbium and Dysprosium, which are scarce in many rare earth deposits.
The partnership reflects a broader trend of diversifying rare earth element supply chains, particularly in response to China’s current market dominance. By investing in projects like La Marigen, companies like Royalty Management are helping to create more resilient and geographically distributed resources for critical industries.
Key sectors driving rare earth element demand include renewable energy infrastructure, permanent magnet production for electric vehicles and wind turbines, consumer electronics, medical equipment, and defense technologies.
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