Rahim Suleman with Jack Lifton on How Neo Performance Materials Leads as a Profitable Producer of Rare Earth Products

January 28, 2025 — In a recent interview with Jack Lifton, co-chair of the Critical Minerals Institute (CMI), Rahim Suleman, President, CEO, and Director of Neo Performance Materials Inc. (TSX: NEO), discussed the company’s significant role and advancements in the rare earth and critical materials sector. Rahim emphasized Neo’s longstanding profitability and its strategic focus on value-added products rather than mere commodity production, highlighting that, “We are a highly profitable company.” He elaborated on Neo’s unique position in the North American market as a profitable producer and global seller of rare earth products, underscoring the company’s extensive experience and technological prowess in recycling gallium, a super critical material for the semiconductor industry. This capability is particularly vital as it addresses the restrictions and challenges posed by China’s dominance in gallium production, which accounts for 96% of the global supply.

The conversation also covered Neo’s ambitious expansion in Europe, particularly the development of a new rare earth magnet facility in Estonia. Rahim detailed the strategic importance of this facility, which aims to address the concentrated risks posed by the majority of rare earth magnet production residing in China. He stated, “Our facility is going extremely well… Most of the equipment, if not all the equipment, is now in the facility, all being commissioned, all of it on time and on budget.” This European venture is part of Neo’s broader strategy to diversify the global production of critical materials and reduce dependency on Chinese supplies. Rahim shared insights on the company’s comprehensive capabilities, from metal making to magnet production, which are integral to supporting various high-tech applications, including electric vehicles and wind turbines. This aligns with the company’s recent financial achievements as highlighted in their Q3 2024 report, where Neo showcased a robust performance.

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About Neo Performance Materials Inc.

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders and magnets, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products help to deliver the technologies of tomorrow to consumers today. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.  Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, United States; Singapore; and Beijing, China. Neo has a global platform that includes ten manufacturing facilities located in Canada, China, Estonia, Germany, Thailand, the United Kingdom, and the United States, as well as one dedicated research and development centre in Singapore.

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