• Caldeira Rare Earths Project included in BRL 5 billion Brazilian Strategic Minerals funding program
• Funding to support production capacity expansion, research, development and innovation
• Aligns with Meteoric's MoU to develop permanent magnet making capacity in Minas Gerais

Meteoric Resources NL (ASX: MEI) has announced that its Caldeira Rare Earths Project has been included in the Brazilian Financial Agency for Studies and Project (Finep) and the National Bank for Economic and Social Development (BNDES) Strategic Minerals funding program. The BRL 5 billion program is a Brazilian State initiative designed to support Strategic Minerals Projects to expand production capacity and encourage research, development and innovation. The program aims to strengthen supply chains for Strategic Minerals, including Rare Earths, while stimulating production of downstream components such as magnets. Meteoric has submitted an application to Finep for funding under this program, which includes development of a Pilot Plant, downstream rare earth separation leading to magnet making, together with scaling and debottlenecking of the Caldeira Rare Earths Project in Minas Gerais, Brazil. This aligns with Meteoric's previous Memorandum of Understanding established with SENAI Regional Development of Minas Gerais to develop permanent magnet making capacity in Minas Gerais, as well as the MAGBRAS project from mine to magnet approved for BNDES funding. Meteoric's Managing Director, Stuart Gale, commented that the company is pleased to be part of this important initiative to develop and industrialise production of Strategic Minerals in Brazil, and looks forward to working with Finep and BNDES to advance the Caldeira Project and support the common goals of downstream development.

Meteoric is looking forward to working with Finep and BNDES to develop the Caldeira Rare Earths Project and support the common goals of advancing downstream development of strategic minerals in Brazil.