Brazilian Rare Earths December 2025 Quarterly Report

SYDNEY, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) (‘BRE’) is pleased to report progress during the quarter ended 31 December 2025. Highlights during and subsequent to the end of the quarter include:

Amargosa Bauxite Scoping Study: Large-Scale, Low-Cost Direct-Ship-Bauxite Project

Simple, low-capex 5 Mtpa export project: Direct-ship-bauxite (DSB) export operation with efficient road logistics to an established port, delivers a compelling development pathway
JORC Resource: 568 Mt Mineral Resource Estimate, including 98 Mt of direct-ship-bauxite
Strong economics and cash generation: Average EBITDA of US$102 million p.a. and free cash flow of US$84 million p.a. over a 17-year mine life; after-tax NPV₈ of US$630 million and ~1.2-year payback
Cost-curve leadership: CM Group independent benchmarking ranks Amargosa in the lowest-cost first quartile on the global seaborne bauxite cost curve
Tier-one jurisdictional advantages: Strategically located in Bahia, competitive taxes and royalties, access to skilled labour and infrastructure, and strong government support. Permitting timelines of ~2–3 years for comparable lateritic operations support a potential development pathway by 2028, subject to approvals
Large-scale expansion optionality: Material production and exports upside beyond the 5 Mtpa DSB case, underpinned by the large resource base and potential future integration with the FIOL–Porto Sul rail corridor
Value-unlock catalyst: BRE is advancing a de-merger of Amargosa to unlock shareholder value, and has lodged ASX suitability-for-listing materials for an Amargosa spin-out in mid 2026

BRE and Carester Sign Heavy Rare Earth Offtake & Technical Partnership

Strategic alliance: BRE entered into a long-term partnership with Carester, a leading rare earth processing specialist with a proven track record in the design, commissioning and optimisation of rare earth separation facilities globally
Camaçari separation plant delivery: Carester will provide engineering, construction and commissioning support for BRE’s planned rare earth separation refinery at the Camaçari Petrochemical Complex, Bahia
Heavy rare earth supply offtake: Carester will purchase BRE’s heavy rare earth concentrate under a binding 10-year offtake, supporting up to ~150 tpa of separated dysprosium and terbium (DyTb) oxides production at Carester’s separation facility
Caremag scale and tier-one backing: Carester is developing one of the world’s largest heavy rare earth separation and recycling projects through its Caremag subsidiary in Lacq, France, supported by the French Government and Japanese partners JOGMEC and Iwatani

Appointment of Chief Financial Officer

BRE announced the appointment of John Vander Ploeg as Chief Financial Officer
Mr. Vander Ploeg is a highly experienced finance leader with over 20 years’ experience spanning listed-company reporting, complex corporate transactions, technical accounting, and cross-border integration

Strong Balance Sheet

BRE held A$162.4 million in cash at 31 December 2025
On 14 October 2025, BRE completed a placement of 25.6 million shares at A$4.68 per share to raise A$120 million before costs
Placement proceeds to fast-track development of ultra-high-grade rare earth projects and rare earth separation refinery in Brazil

A link to the full announcement can be found here.

Contacts

Bernardo Da Veiga, Managing Director and CEO

investors@brazilianrareearths.com
www.brazilianrareearths.com

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