Neo Performance Materials slips as it exits separation facilities in China

Neo Performance Materials

22/05/2025 15:18

** Shares of Canadian rare earth company Neo Performance Materials NEO.TO down 4.7% at C$9.50

** Company says it has exited from two of its China separation facilities concluding the strategic review it launched last year

** NEO aims to reduce geopolitical risk and price volatility while expanding in Europe and North America

** "Company is scaling its European magnet operations and evaluating additional supporting capabilities, such as heavy rare earth separations" - NEO

** NEO expects its permanent magnet facility in Europe to be completed on time and start commercial production in 2026

** Including session's moves, NEO shares up 17.5% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))