Highlights

  • Meteoric Resources received its Preliminary Environmental Licence for the Caldeira Project without restrictions.
  • The approval enables progression to the Installation Licence, required before construction activities begin.
  • The decision keeps the Caldeira Project aligned with its stated regulatory and development timeline.

Meteoric Resources NL (ASX:MEI) has received a key regulatory approval for its Caldeira Rare Earth Ionic Clay Project in Brazil, after being granted a Preliminary Environmental Licence (LP) without restriction. The approval was issued by the State Council for Environmental Policy (COPAM) in the state of Minas Gerais, marking the first formal stage of Brazil’s environmental licensing process for projects with potential environmental or social impact.

The LP application was reviewed and voted on during a COPAM meeting held in Belo Horizonte on December 19, 2025. The council unanimously supported the application, following a favourable technical recommendation from the Environmental Foundation of the State of Minas Gerais (FEAM). The decision confirms the environmental viability of the project location and establishes baseline conditions for the next stages of licensing.

First Regulatory Gate Cleared
In Brazil’s permitting framework, the Preliminary Environmental Licence is considered the most critical approval, as it validates the project’s location and overall environmental feasibility. With the LP granted, Meteoric is permitted to proceed with preparations for the Installation Licence (LI), which is the final environmental approval required before construction can commence.

The company has indicated that the LI application is expected to be lodged in early 2026. Approval of the LI is currently estimated for June 2026, in line with the preferred project status previously granted by the State of Minas Gerais.

Extensive Review and Public Process
The LP approval follows a detailed and multi-stage assessment process. Meteoric’s application was supported by a 3,000-page Environmental Impact Assessment (EIA), submitted to FEAM in May 2024. The EIA was prepared after nearly 12 months of environmental baseline and impact studies conducted by independent consultants.

Subsequent steps included a public hearing in the municipality of Caldas, certification of land use and occupation by the local environmental council, approval from the management council of the Pedra Branca Conservation Area to operate within the designated buffer zone, and an on-site inspection by FEAM technicians. The process also involved the submission of additional information requested by regulators before FEAM prepared its final technical report recommending approval.

Project Area and Scope
The approved LP area covers the first phase of the Caldeira Project. It includes mineral resources and reserves located within the southern licences of Capão do Mel, Soberbo, and Figueira. These areas form part of the broader Caldeira rare earth project footprint in Minas Gerais.

Next Steps in Licensing
Following receipt of the LP, the next key task is the preparation of the Environmental Control Plan (PCA). This document is required to support the Installation Licence application and outlines measures to manage and control environmental impacts during project development. Completion and submission of the PCA will allow the project to move into the final approval phase of the environmental licensing process.

Share Price Snapshot
MEI was trading 32.14% higher at AUD 0.185 per share as of 22 December 2025.