Neo Performance Materials

Rare earth and rare metal advanced materials in three segments: Magnequench, covering NdFeB magnetic powders, bonded magnets, sintered NdFeB magnets and soft magnetic components; Chemicals and Oxides, covering mid-stream separation and specialty chemicals; and Rare Metals, covering niobium, tantalum, rhenium, hafnium and gallium. In Europe the focal assets are Silmet at Sillamae, Estonia and the sintered NdFeB magnet plant at Narva, which operates under a partnership with Robert Bosch announced in September 2025.

At a glance

Founded: 2017 — Incorporated in Ontario on 12 September 2017 and listed on the Toronto Stock Exchange on 8 December 2017, after Oaktree acquired the Neo business out of the Molycorp bankruptcy. The operating businesses are older: Magnequench was established by General Motors in 1986, and the Estonian Silmet plant was acquired by Molycorp in 2011.
Headquarters: Toronto, Ontario, Canada. Listed as TSX: NEO and quoted on OTCQX as NOPMF. The atlas lists it under Estonia for its Narva and Sillamae assets; the reporting entity is Canadian.
Ownership: Widely held. As of the March 2026 Annual Information Form no shareholder holds more than 10%. Wyloo acquired roughly 19.99% in February 2025 and exited entirely in October 2025. A strategic review begun in June 2024, which included assessing a sale of the company, concluded in May 2025 without a transaction.
Revenue: USD 478.8 million
Reported, FY2025, calendar year ended 31 December 2025.
Neo reports in United States dollars. Segment revenue: Magnequench USD 204.6 million, Chemicals and Oxides USD 135.0 million, Rare Metals USD 147.7 million. Magnequench is the closest thing to a magnet segment but is dominated by bonded NdFeB powders and also contains soft magnetic components and the new Narva plant; no revenue is published for the Narva sintered magnet operation on its own.
Source

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

What	Figure	Status	As of
Sintered NdFeB magnets, Narva, Estonia — nameplate. Operational from May 2025, formally opened September 2025; producing and shipping qualification samples and ramping to full commercial production as of August 2026.	2,000 t/yr	Operating	Aug 2026
Narva Phase 1B expansion	to approximately 5,000 t/yr cumulative	Under construction	Aug 2026
Rare earth separation, Silmet, Sillamae, Estonia	3,200 t/yr nameplate	Operating	Mar 2026
Heavy rare earth separation line for dysprosium and terbium, Silmet — a small-scale demonstration line, commissioned and at nameplate	no tonnage published	Operating	Apr 2026
NdFeB powder, Tianjin, China	7,200 t/yr	Operating	Mar 2026
NdFeB magnets and soft magnetic components, Essex, United Kingdom	1,000 t/yr	Operating	Mar 2026

Narrative

Neo Performance Materials is a Toronto-headquartered, Toronto-listed producer of rare earth and rare metal materials, incorporated in Ontario in 2017. It reports in US dollars across three segments. Its Estonian operations anchor the group's European footprint: the Silmet plant at Sillamae separates rare earths and refines niobium, tantalum, rhenium and hafnium, and in April 2026 commissioned a small-scale heavy rare earth separation line for dysprosium and terbium. At Narva, Neo opened a sintered NdFeB magnet plant in September 2025 rated at 2,000 metric tons a year, with a Phase 1B expansion toward 5,000 tons under way. It also operates NdFeB powder and bonded magnet plants in China, Thailand and the United Kingdom, and reported FY2025 revenue of USD 478.8 million.

Where public sources disagree

Narva Phase 1B is described as planning activities in March 2026 and as under way in August 2026. The phase labels also differ: Neo uses Phase 1A and 1B, while Estonian government material uses Phase 1 and Phase 2. The tonnages agree.
Investment figures for Narva come from Estonian government sources rather than from Neo, which confirms Just Transition Fund co-funding without stating an amount. Roughly EUR 100 million initial investment and a EUR 19 million grant are attributable to Invest in Estonia, not to the company.
A statement at the Narva opening that the facility will satisfy up to 15% of EU demand for these magnets was made by a European Commissioner in a company press release. It is not derived from a filing or a published market study.
Neo is not an SEC registrant. There are no 10-K or 20-F filings; primary documents are the Annual Information Form and financial statements on SEDAR+.

Sources

Annual Information Form 2026 — facility table, capacities, ownership, reporting currency — Neo Performance Materials Inc. (2026-03-19)
Fourth quarter 2025 results — Neo Performance Materials Inc. (2026-03-19)
Second quarter 2026 results — Neo Performance Materials Inc. (2026-08-11)
Neo opens permanent magnet facility in Europe — Neo Performance Materials Inc. (2025-09-22)
Heavy rare earth separation line commissioned at Silmet — Neo Performance Materials Inc. (2026-04-10)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

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