Neo Performance Materials Inc.

NEO · TSX NOPMF · OTC

neomaterials

$1.2B

USD

Market cap · 2026–07 · week 29

🇨🇦 Canada, Toronto

Country

Rare Earths & Critical Minerals

Sector

Producer · Junior / Minor · Asia · China · Europe

Last updated 21 June 2026

Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.

Overview: Neo Performance Materials Inc. is a global advanced-materials and rare earth processing and manufacturing company headquartered in Toronto, Ontario, Canada, operating primarily in Europe and Asia. The company's portfolio is organized into 3 operating business segments plus 1 greenfield magnet facility under construction, comprising the Magnequench magnetic-materials business, the Chemicals & Oxides rare earth and zirconium materials business, the Rare Metals specialty-metals business, and the new European Permanent Magnet facility in Narva, Estonia. Key assets include the Silmet rare earth separation facility in Estonia, the NAMCO rare earth oxide operations in Zibo, China, the Magnequench powder operations in Tianjin, China and Korat, Thailand, and the Narva sintered-magnet plant. The business model is built on midstream and downstream processing rather than mining: Neo separates and refines rare earths, manufactures over 30 grades of bonded NdFeB magnetic powders and bonded magnets, produces rare earth and zirconium chemicals and oxides, and reclaims and refines specialty metals such as gallium, niobium and tantalum. A defining competitive characteristic is ownership of one of only two operating commercial rare earth separation facilities in Europe, positioning Neo as a supply-chain solution for customers seeking geographic diversity and compliance with the European Union's Critical Raw Materials Act. The principal model-linked risks are exposure to rare earth and specialty-metal feedstock pricing, concentration of certain operations in China, and execution risk on scaling the Narva magnet plant.

Strategy: Strategic direction centers on extending Neo's midstream rare earth processing into high-value downstream permanent magnets, anchored by the European Permanent Magnet facility in Narva, Estonia. A core objective is to establish Neo as Europe's largest domestic sintered NdFeB magnet supplier, leveraging the plant's proximity to the Silmet separation facility to create an integrated, regionally compliant supply chain aligned with the European Union's Critical Raw Materials Act. Near-term priorities include commercializing the Narva facility, evidenced during 2025 by shipment of sintered magnet samples meeting specified magnetic properties to a Tier-1 traction-motor customer and the award of a related supply contract for the electric-vehicle market. The enterprise is concurrently optimizing its established Magnequench, Chemicals & Oxides and Rare Metals segments, while reshaping the portfolio through selective divestiture, including the sale of its 80% interest in the Quapaw, Oklahoma gallium-trichloride facility. Growth is oriented toward serving traction-motor, electronics and industrial customers seeking secure, non-China sources of magnetic and rare earth materials.

Management: Executive leadership is headed by President and Chief Executive Officer Rahim Suleman, who was appointed effective July 7, 2023 following the retirement of Constantine Karayannopoulos. Financial leadership is provided by Executive Vice President and Chief Financial Officer Jonathan Baksh, appointed effective June 19, 2023. The Board of Directors is chaired by independent director Mr. Lee, who has served as a director since October 2017. Board composition was refreshed during the period with the July 22, 2024 appointment of Dr. John McGarva as an independent director and member of the Audit Committee, alongside the resignation of Yadin Rozov from the Board on the same date.

Structure: The company was incorporated under the Ontario Business Corporations Act on September 12, 2017 and is listed on the Toronto Stock Exchange under the symbol NEO and quoted on the OTCQX under NOPMF, with its registered and head office at 121 King Street West, Suite 1740, Toronto, Ontario. A defining structural initiative is the development of the European Permanent Magnet facility in Narva, Estonia, sited near the Silmet rare earth separation facility to integrate separation and magnet manufacturing within the European Union. During the period the company completed the sale of its 80% equity interest in Neo Rare Metals (Oklahoma) LLC, the entity that owns the Quapaw, Oklahoma gallium-trichloride facility, and it secured an EV traction-motor magnet supply contract. Board changes during the period included the appointment of Dr. John McGarva and the resignation of Yadin Rozov.

Hedge: Neo is exposed to rare earth and specialty-metal feedstock price movements and to foreign-exchange risk arising from its globally distributed operations across Europe, China, Thailand and North America, which transact in multiple currencies. The company manages these exposures principally through its commercial and procurement arrangements and treasury practices rather than disclosing a standing portfolio of speculative commodity derivatives in this filing.

Source: Neo Performance Materials Inc. - Annual Information Form - 2025

Processing facilities · 4 projects

Chemicals & Oxides

Asset · Other

Open project page

Project information

As at 31 December 2025

Type: Processing Facility

Aggregation level: Asset

Status: Operating

Report standard: -

Ownership %: 100

Operator: Yes

Extraction: Processing Facility

Country: -

Facility kind: Other

Licensed capacity: -

Capacity unit: -

Capacity period: -

Capacity kind: -

Description

As at 31 December 2025

Chemicals & Oxides (C&O) business segment producing rare earth and zirconium-based engineered materials, chemicals and oxides. The segment includes Neo's Silmet rare earth separation facility in Sillamae, Estonia — one of only two operating commercial rare earth separation facilities in Europe — and the NAMCO rare earth oxide operations in Zibo, China, serving catalyst, ceramic, polishing, water-treatment and specialty-chemical markets. Silmet's separation capability is strategically linked to Neo's adjacent European magnet build-out.

Processing facilities

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European Permanent Magnet Facility (Narva, Estonia)

Asset · Other · Construction

Estonia, Narva

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Project information

As at 31 December 2025

Type: Processing Facility

Aggregation level: Asset

Status: Construction

Report standard: -

Ownership %: 100

Operator: Yes

Extraction: Processing Facility

Country: Estonia

Region: Narva

Facility kind: Other

Licensed capacity: -

Capacity unit: -

Capacity period: -

Capacity kind: -

Description

As at 31 December 2025

Greenfield sintered neodymium-iron-boron (NdFeB) permanent-magnet manufacturing facility in Narva, Estonia, strategically located near Neo's Silmet rare earth separation facility. The plant is expected to position Neo as Europe's largest domestic sintered magnet supplier and a compliance solution under the European Union's Critical Raw Materials Act. During 2025 the facility shipped sintered magnet samples meeting specified magnetic properties to a Tier-1 traction-motor customer for the EV market and Neo was awarded a related magnet supply contract, marking key commercialization milestones as the plant ramps toward commercial production.

Processing facilities

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Magnequench

Asset · Other

China

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Project information

As at 31 December 2025

Type: Processing Facility

Aggregation level: Asset

Status: Operating

Report standard: -

Ownership %: 100

Operator: Yes

Extraction: Processing Facility

Country: China

Facility kind: Other

Licensed capacity: -

Capacity unit: -

Capacity period: -

Capacity kind: -

Description

As at 31 December 2025

Magnetic-materials business segment producing bonded neodymium-iron-boron (NdFeB) magnetic powders and bonded magnets, with primary manufacturing in Tianjin, China and additional operations in Korat, Thailand. Magnequench produces over 30 grades of magnetic powders, each engineered for specific magnetic properties, that have become an industry standard for miniaturized, high-performance motors and sensors used in automotive, electronics and industrial applications. The segment is a core part of Neo's downstream magnetics platform.

Processing facilities

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Rare Metals

Asset · Other

Open project page

Project information

As at 31 December 2025

Type: Processing Facility

Aggregation level: Asset

Status: Operating

Report standard: -

Ownership %: 100

Operator: Yes

Extraction: Processing Facility

Country: -

Facility kind: Other

Licensed capacity: -

Capacity unit: -

Capacity period: -

Capacity kind: -

Description

As at 31 December 2025

Rare Metals business segment that reclaims, refines and produces specialty rare and minor metals — including gallium, niobium and tantalum — for electronics, aerospace, superalloy and capacitor applications, with a significant tantalum and niobium reclamation business. During the period the segment completed the sale of its 80% equity interest in Neo Rare Metals (Oklahoma) LLC, which owns the Quapaw, Oklahoma facility producing gallium trichloride used in LED lighting, lithium batteries, integrated-circuit chips and capacitors.

Processing facilities

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Assumptions

The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.

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How to read this tab

The tables below list unit codes most often used in the Rare Earths & Critical Minerals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.

What the Portfolio tab shows

The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.

Concepts in your sector — Rare earths & critical minerals

TREO vs individual oxides. Deposits disclose TREO % with a basket (Nd, Pr, Dy, Tb, …). Value is dominated by magnet metals; TREO without the basket misses most of the economics.
Vanadium in V₂O₅. Reserves use % V₂O₅ or ppm; multiply V₂O₅ by 0.560 for V metal.
Niobium, tantalum, scandium, fluorspar each have their own chemistry idiom; the rating engine normalises within commodity family.

Portfolio tab — table guide

Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.

Ownership / Working interest

Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.

Units, conversions & reporting standards

Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.

Assumptions

Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.