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IMC Rare Earths starts trading on NYSE American under ticker IMC
The company priced its IPO at $5.00 per share and raised $20 million, backing its Itarantim clay project in Brazil.
IMC Rare Earths’ ordinary shares began trading on NYSE American on Wednesday under the ticker IMC, after closing its initial public offering at $5.00 per share to raise $20 million, according to Mining.com.
The listing supports the company’s Itarantim project, a large-scale ionic adsorption clay deposit in northeastern Brazil, spanning Bahia and Minas Gerais. IMC said the deposit is especially rich in dysprosium and terbium, rare earth magnet elements used in applications including AI, robotics, advanced electronics, and defense.
IMC Rare Earths estimated an inferred mineral resource of about 1.1 billion metric tons for Itarantim and said it is among the largest high-grade dysprosium and terbium resources outside China and Myanmar.
The company described the NYSE American debut as a milestone toward meeting rising global demand for rare earths by building a reliable supply beyond China, with a focus on serving advanced technology and defense industries in the Americas and Europe.