- Meteoric Resources rare earth measured resources at its Caldeira project in Brazil rose 246% to 128 million tonnes (Mt) grading 2,815ppm Total Rare Earth Oxide (TREO)
- Caldeira’s global Mineral Resource Estimate now stands at 1.6 billion tonnes (Bt) at 2,317ppm TREO
- Measured and Indicated resources combined reached 703Mt at 2,617ppm TREO
- Upgrade driven by 304 infill drill holes across the Southern Licences — Capão do Mel, Soberbo and Figueira
- Result feeds directly into the Definitive Feasibility Study (DFS), with an Installation Licence targeted for Q4 2026
Meteoric Resources (ASX: MEI) said on 9 July 2026 that measured resources at its 100%-owned Caldeira Rare Earth Element Ionic Clay Project in Minas Gerais, Brazil, had increased 246% to 128Mt at 2,815ppm TREO, up from a much smaller base as indicated resources converted to the higher-confidence measured category.
What the Caldeira Upgrade Changes
The updated Global MRE now totals 1.6Bt at 2,317ppm TREO, contained within the same license package Meteoric has held since acquiring the project. Within that, Measured and Indicated resources combined reached 703Mt at 2,617ppm TREO — one of the larger high-confidence ionic clay rare earth resources reported outside China. The basket includes 594kt of neodymium oxide, 209kt of praseodymium oxide, 34kt of dysprosium oxide and 6kt of terbium oxide, the magnet feedstock elements driving demand from EV and wind turbine supply chains.
Meteoric attributed the upgrade to detailed 50m-by-50m infill drilling across the Southern Licences — Capão do Mel, Soberbo and Figueira — comprising 304 holes for more than 9,200 metres, combined with updated 3D geological modelling. Meteoric’s ASX filing states the conversion to measured resources reduces geological and metallurgical uncertainty ahead of the DFS, a standard precursor to project financing decisions on ionic clay assets.
Caldeira’s Path to a Final Investment Decision
Caldeira uses ionic adsorption clay geology, allowing a simpler ammonium sulphate leach process rather than the hard-rock crushing and milling required at most other rare earth projects. Independent reporting on the update notes global average recoveries of 55% TREO and 71% MREO from testwork completed to date, with a preliminary environmental licence already granted by Minas Gerais state regulator FEAM in December 2025.
The DFS is the next milestone site-owner audiences will be watching, alongside the state Installation Licence targeted for the December 2026 quarter and a Final Investment Decision expected later in 2026. Caldeira sits within Brazil’s broader push to build downstream rare earth processing capacity — a theme also playing out at Brazil’s other rare earth projects. For investors tracking the broader junior developer field, Meteoric is one of a growing list of ASX-listed rare earth stocks advancing ionic clay assets toward production decisions in 2026.
What is the Caldeira Rare Earth Project?
Caldeira is Meteoric Resources’ flagship ionic adsorption clay rare earth project in Minas Gerais, Brazil. It is one of the largest ionic clay rare earth deposits reported globally by tonnage, hosting significant neodymium, praseodymium, dysprosium and terbium.
Who owns the Caldeira project?
Meteoric Resources NL (ASX: MEI), an Australian mineral exploration and development company, holds 100% ownership of the Caldeira project.
Why did Meteoric’s measured resources increase by 246%?
The increase reflects a resource category upgrade, not new discovery. Infill drilling and updated geological modelling converted a large share of previously indicated resources into the higher-confidence measured category, supporting the project’s feasibility study.
What makes ionic clay rare earth deposits different from hard-rock deposits?
Ionic clay deposits allow rare earths to be extracted using a simple ammonium sulphate leach wash rather than drilling, blasting and milling. This generally lowers capital and energy intensity, though recoveries and project economics still depend on site-specific metallurgy.
What is the next milestone for the Caldeira project?
Completion of the Definitive Feasibility Study is the key near-term catalyst, followed by permitting decisions and a Final Investment Decision that will determine whether the project advances to construction.
