Ironveld Announces Rare Earths and Phosphate Discovery at Layer 21

Ironveld reported a rare earths and phosphate discovery at its Layer 21 site in South Africa, with core samples containing 858–1,543 parts per million total rare earth oxides; about 25% was neodymium and praseodymium oxides. Its DMS plant is processing approximately 4.5 tonnes per hour, close to its 5-tonne design capacity. The company is discussing supply agreements with three prospective counterparties and has received a 100-tonne order, while deliveries under an existing contract are temporarily halted because of customer technical issues. Ironveld says it has working capital for about two months and is assessing external funding options.