Meteoric Resources (ASX:MEI) said the preliminary environmental license for its Caldeira rare earth project in Minas Gerais, Brazil, was included on the State Council for Environmental Policy's agenda for approval at its meeting on Dec. 19, according to a Monday Australian bourse filing.

The approval and award of the license at the meeting will allow Meteoric to submit its construction license application with minimal impact on the overall project timeline.

The company said it has continued to collaborate with the Environmental Foundation of the Minas Gerais State and engaged with the National Nuclear Safety Authority. It noted that the information and technical studies submitted as part of its environmental impact assessment and environmental license application support the approval of the preliminary environmental license.

Meteoric Resources' shares fell 2% in recent Monday trade.