00:59:22 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Neo Performance Materials Inc
Symbol NEO
Shares Issued 45,196,921
Close 2023-07-04 C$ 8.67
Market Cap C$ 391,857,305
Recent Sedar Documents

Globe/wire say 5N gets boost from Chinese restrictions

2023-07-05 08:17 ET - In the News

See In the News (C-VNP) 5N Plus Inc

The Globe and Mail reports in its Wednesday edition that companies caught out by China's decision to restrict exports of two metals widely used in semiconductors and electric vehicles were racing to secure supplies on Tuesday as some industry suppliers worried that curbs on rare earth exports could follow. A Reuters dispatch to The Globe says that Monday's abrupt announcement of controls from Aug. 1 on exports of some gallium and germanium products has worsened a trade war with the United States and could potentially cause more disruption to global supply chains. Analysts saw the move, which the Chinese Commerce Ministry said was to protect national security, as a response to escalating efforts by Washington to curb China's technological advances. Shares in 5N Plus, which produces specialty semiconductors and performance materials, rallied 8.9 per cent, while Neo Performance Materials, a recycler of gallium and manufacturer of gallium trichloride, rose 5.73 per cent. Neo Performance chief executive officer Constantine Karayannopoulos told Reuters that it would be difficult to meet market demand without Chinese gallium supply though work-arounds could be possible with the "right industrial public policy incentives."

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