Meteoric Resources (ASX:MEI) said the financial outcomes of its Caldeira project in Brazil have improved by incorporating the updated Figueira mineral resource into its 20-year mine plan, according to a Tuesday filing with the Australian Securities Exchange.

The update resulted in a 4% increase in neodymium-praseodymium production in the first five years and a 3% operating costs reduction to $6.74 per kilogram of recovered total rare earth oxide in a mixed rare earths carbonate over the life of mine, the filing said.

Work programs for the pre-feasibility study are progressing on schedule, including the scoping study level separation test work in partnership with Australia's Nuclear Science and Technology Organization, according to the filing.