Aug 21 (Reuters) - Rare earths developer Meteoric

Resources said it has executed an agreement to supply

3,000 metric tons of rare-earth oxide from its forthcoming

Caldeira rare earth ionic clay project in Brazil to Canada's

Ucore Rare Metals ( UURAF ).

Under the agreement, the parties will work towards a binding

agreement for the supply of mixed rare earth carbonate (MREC) to

Ucore's developing rare earth oxide production facility, the

Louisiana Strategic Metals Complex in the United States,

Meteoric Resources said on Wednesday.

The Perth-headquartered firm said it also expects to obtain

a construction permit by the fourth quarter of 2025, and aims to

commence MREC production during the second half of 2027.

"Ucore's interest signals strong external market confidence

in the Caldeira Project's ability to progress to a final

investment decision and into production," Meteoric CEO Nick

Holthouse said.

Shares of Meteoric were down as much as 4% to A$0.096 by

0033 GMT, amid weakness across the sector.

The agreement follows Meteoric collaborating with a regional

department of Brazil's Minas Gerais state in late June to

explore the production of rare earths magnets.