Latest news with #Praseodymium
Business Wire
2 days ago
- Business
- Business Wire
Cyclic Materials Announces USD $25M Investment to Establish Centre of Excellence for Rare Earth Recycling in Kingston, Ontario
TORONTO--(BUSINESS WIRE)--Cyclic Materials, the advanced recycling company building a circular supply chain for rare earth elements (REEs), today announced a USD $25 million investment to launch North America's first Centre of Excellence for rare earth recycling in Kingston, Ontario, which will result in 45 new skilled jobs in the region. Spanning over 140,000 square feet, the first-of-its-kind facility will serve as Cyclic's industrial and innovation backbone, combining full-scale commercial processing and cutting-edge research and development (R&D) to address one of the world's most pressing supply chain challenges: the resilient sourcing of rare earth elements for use in permanent magnets. A Strategic Facility Serving a Circular Future The Kingston Centre of Excellence will house Cyclic Materials' first commercial 'Hub' processing unit, leveraging the company's proprietary REEPure SM technology. The facility is designed to convert 500 tonnes of magnet-rich feedstock annually into recycled Mixed Rare Earth Oxide (rMREO)—a product containing crucial components for permanent magnets used in EV motors, wind turbines, and consumer electronics such as Neodymium, Praseodymium, Terbium, and Dysprosium. Feedstock for this facility will be sourced from both Cyclic's Arizona-based 'Spoke', where end-of-life products will be processed, as well as a growing network of partners supplying magnet scrap from production. With operations set to begin in Q1 2026, rMREO from this facility will supply key partners within the magnet value chain, like Solvay, with whom Cyclic Materials signed an offtake agreement in 2024, providing a secondary resource of critical rare earth elements. The site will also house a state-of-the-art R&D center, including advanced labs and a mini-Spoke line, to accelerate process optimization and scale next-generation technologies across the rare earth value chain. Breaking Global Dependency with Local Innovation Today, less than 1% of rare earth elements are recycled, and global supply chains remain highly sensitive to growing geopolitical tensions and supply concentration. Cyclic Materials' proprietary MagCycle℠ and REEPure℠ technologies recover REEs from end-of-life products such as EVs, wind turbines, and data center hard drives—delivering a low-footprint, circular alternative to mining and a fast track to domestic supply security. 'With this Centre of Excellence, we're advancing our core mission: to secure the most critical elements of the energy transition through circular innovation,' said Ahmad Ghahreman, CEO of Cyclic Materials. 'Kingston is where Cyclic began—and now it's where we're anchoring our commercial future.' Kingston: The Cornerstone for the Next Generation of Cleantech Kingston has played a foundational role in the company's success—home to its commercial demonstration facilities and a deep bench of collaborators in research, engineering, and cleantech. The Centre of Excellence will build on robust partnerships with Queen's University, Kingston Process Metallurgy (KPM), RXN Hub, and Impact Chemistry, as well as support from national innovation programs including CMRDD (Critical Minerals Research, Development and Demonstration) from Natural Resources Canada, Sustainable Development Technology Canada (SDTC), and the National Research Council's Industrial Research Assistance Program (IRAP). The facility is expected to create over 45 highly qualified new jobs, with more than 20 hires already onboard. Recruitment has already started with key roles for plant operators, process technicians, and innovation staff. "We are thrilled to see Cyclic Materials' significant investment to establish their Centre of Excellence and Hub in Kingston, Ontario. This announcement not only creates high-quality jobs in the community but is a reflection of the expertise, talent, and supportive ecosystem Kingston has to offer companies,' said Shelley Hirstwood, Director of Business Development at Kingston Economic Development Corporation. 'We are proud to support Cyclic Materials' efforts to create a circular supply chain addressing Canada's critical minerals and rare earth elements." Scaling a North American Rare Earth Recycling Network This investment marks a pivotal step in Cyclic Materials' broader plan to scale its rare earth recycling infrastructure across North America and Europe. With strategic alliances including Solvay, Glencore, Lime, and Sims Lifecycle Solutions, the company is building a resilient, sustainable, and circular ecosystem for rare earth magnets—supporting the electrification of industries and the secure supply of critical materials. About Cyclic Materials Cyclic Materials, founded in 2021, is a cleantech company building a circular supply chain for rare earth elements (REEs) and other critical materials essential to the clean energy transition. Its innovative technology transforms end-of-life products into valuable raw materials used in EVs, wind turbines, and electronics. In 2023, the company launched a commercial demo facility using its MagCycle℠ process to recover rare earth magnets. In 2024, it opened a second facility in Kingston, Ontario, producing Mixed Rare Earth Oxide via its REEPure℠ hydrometallurgical process. With demand for REE-based magnets surging, Cyclic Materials is scaling globally across North America, Europe, and Asia. Mesa, Arizona, is its first U.S. location. In recognition of its pioneering work, it was named the #8 Most Innovative company in North America by Fast Company in 2025. Learn more at
Yahoo
22-04-2025
- Business
- Yahoo
US extracts rare earths from hard drives, strikes blow to China's dominance
With rare earth exports caught in the crossfire of rising U.S.–China tariffs, the global tech and defense industries are bracing for supply disruptions. On April 4, China imposed new restrictions on seven critical rare earth elements and magnets, requiring export licenses and delaying outbound shipments. The move came in direct response to U.S. tariffs of up to 145 percent and has shaken markets reliant on these strategic materials. The tariffs on China have since then shot up to an astonishing 245 percent. More than half of the United States' supply of critical minerals currently comes from China. Now, a domestic recycling initiative may offer a way out of this dependence by turning discarded data center hardware into a reliable, eco-friendly source of rare earths and valuable metals. In a first-of-its-kind pilot, Western Digital, Microsoft, Critical Materials Recycling (CMR), and PedalPoint Recycling processed nearly 50,000 pounds of decommissioned hard drives and server hardware. Using a new acid-free chemical method, the team extracted rare earth elements like Neodymium, Praseodymium, and Dysprosium, as well as high-purity gold, copper, aluminum, and steel. The recycled materials are already feeding back into supply chains supporting electric vehicles, wind energy, and next-generation electronics. At the heart of the process is acid-free dissolution recycling (ADR), a technology developed by the Critical Materials Innovation (CMI) Hub. The pilot reached a 90 percent recovery rate for rare earths and base metals, along with 80 percent total material recovery by mass. 'This initiative sets a new standard for end-of-life data storage management,' said Jackie Jung, vice president of Global Operations Strategy and Corporate Sustainability at Western Digital. 'This project is more than a milestone. It's a model for sustainable progress in critical material recovery.' The process also delivers major environmental gains. According to a life cycle analysis, it reduces greenhouse gas emissions by 95 percent compared to conventional mining and refining. The pilot drew materials from Microsoft data centers across the U.S., underscoring its potential for scalability. Chuck Graham, corporate vice president at Microsoft, said the results show it's possible to build an economically viable and sustainable system for handling decommissioned hard drives. 'It's an opportunity to reuse and recycle materials, cut waste, and reduce carbon impacts across our entire sector,' Graham said. The implications stretch beyond corporate sustainability. By performing the entire rare earth oxide production process domestically, the program boosts national security while reducing exposure to volatile global markets. With international trade policies becoming more unpredictable, securing a homegrown supply chain has become a top strategic priority for the U.S. Tom Lograsso, director of the CMI Hub, praised the team's rapid development. 'Scaling ADR from lab bench to demonstration scale in just eight years is an incredible achievement,' he said. With demand for hard drives climbing in tandem with AI and data storage growth, the potential to recover rare earths at scale offers a long-term solution for the U.S. 'This pilot shows what's possible when industry leaders collaborate,' said Brian Diesselhorst, CEO of PedalPoint Recycling. 'The impact could be massive.' As geopolitical tensions rise, a domestic answer to rare earth supply may no longer be optional, it may be essential.
Forbes
21-04-2025
- Business
- Forbes
WDC, Microsoft And Material Recyclers Recover Rare Earths From HDDs
Magnetic Rare Earth Elements Hard disk drives contain valuable materials that are used in their construction and operation. This includes rare-earth magnetics that are used in the rotary actuator that allows the heads to write and read information from tracks of data on the disk surfaces. The rare earth elements used in HDDs include Neodymium, Praseodymium and Dysprosium, used because of their unique magnetic properties. Rare earths have a significant economic value and in light of recent embargos of the types of rare earths that are used in constructing HDDs, recovering the rare earths from end-of-life HDDs will have significant economic value. Besides their use in HDD motors, rare earth elements are used in electric vehicles, wind turbines and advanced electronics. We have written in the past about about creating a circular economy for storage devices. As an example of this effort, Western Digital, Microsoft's cloud data centers and a couple of materials recycling companies recently reported extracting rare earths from about 47,000 pounds of shredded end-of-life HDDs and other materials. The recycling partners are Critical Materials Recovery and PedalPoint Recycling. The hard drives were collected from several Microsoft data centers in the United States and sent to the recycling partners. Shreds of HDDs, SSDs, and caddies were sent to PedalPoint where they were sorted and processed. The magnets and steel were then sent to CMR to figure out the best way to sort and size the materials and extract the rare earth elements using CMR's environmentally friendly and economically competitive acid-free recycling process. The four companies went through multiple pilots to create a mass production ecosystem at scale for retrieval of rare earths, which was completed in December 2024. Together the companies transformed close to 50,000 pounds of end-of-life drives, mounting caddies, and other materials into critical, high-value materials, all while significantly reducing environmental impact. The image below shows a schematic of the rare earth element recycling prototype. Rare Earch Recycling Methodology The figure below from the white paper on this project shows the acid-free dissolution and recovery of rare earth elements using a copper salt solution. This method is said to be ideal for leaching from low-concentrated rare earth feedstocks, such as from shredded HDDs. This method recovers more than 90% of the REEs from the HDD feedstock to produce a more than 99.5% pure rare earth oxides. Acid free rare earth element extraction process The WDC release says that more than 85% of rare earth elements primary production occurs outside the US and the domestic recycling rate is low. The largest hyperscalers in the world have collaborated to create an advanced eco-friendly sorting system. The non-acid based recycling process not only recapture rare earths but also gold, copper, aluminum and steel. The current rate earth element recycling in the US is less than 10%. This system recaptured about 80% by mass of the raw recycled feedstock. With domestic recycling of rare earth, access to these materials can minimize transportation emissions and decrease the dependency on imported materials. In addition, using this recycling method, obtaining these materials is estimated to generate about 95% less greenhouse gas emissions compared to traditional mining and processing practices. WDC, Microsoft and a couple of recycling companies have shown a high efficiency, acid-free process for extracting rare earth elements from shredded hard disk drives. Recycling valuable materials from storage devices can improve the local supply chain and avoid environmental impacts.
Yahoo
17-03-2025
- Business
- Yahoo
Royalty Management Holding Corporation Partners on Chilean Heavy Rare Earth Mine
Company acquires equity option in NeoRe SpA, the entity that holds the mineral rights to the La Marigen ionic REE clay project, containing rare earth elements Terbium, Dysprosium, Praseodymium, and Neodymium, among others Option allows Royalty Management to participate in the growth of NeoRe through equity participation FISHERS, INDIANA - March 17, 2025 (NEWMEDIAWIRE) - Royalty Management Holding Corporation (Nasdaq: RMCO) ("Royalty Management" or the "Company"), a forward leaning royalty company building shareholder value by acquiring and developing high value assets in a variety of resource-driven and emerging technology industries, is pleased to announce that it has partnered with NeoRe, SpA on the development and commercialization of their Chilean rare earth mine. The partnership is initially in the form of an option for Royalty Management to acquire an equity ownership position in the operations of the mine at a set valuation, giving the Company meaningful upside exposure to valuable resources at NeoRe's La Marigen project, which is located along the coastal belt of Chile and adjacent to other valuable regional rare earth deposits, such as Aclara Resources' Penco rare earth project. NeoRe's La Marigen Project consists of five license areas within ionic adsorption clay deposits that contain meaningful amounts of valuable rare earth elements. It also comprises 74 exploration applications and four granted exploration concessions covering over 56,300 acres of mining rights, located 50 miles north of Chile's second largest city, Concepcin, a major industrial city with multiple ship loading terminals. The management and operational team at NeoRe has over a decade of experience with the successful evaluation, definition and development of ionic adsorption clay deposits with strong in-country technical relationships and have been conducting surface exploration and test work across the La Marigen region for the past three years. While currently under permitting and development, NeoRe is looking to accelerate the commercialization of La Marigen Project through a combination of private sector investment, such as that from Royalty Management, and governmental support. NeoRe has also recently signed a letter of intent with ReElement Technologies Corporation to incorporate localized processing and refining into La Marigen project, thereby providing unique commercialization opportunities and enhanced viability for the project as compared to other regional deposits of similar nature. Thomas Sauve, Chief Executive Officer of the Company, stated, "After careful due diligence and verification of the deposit's resources and its composition, we are very excited about partnering with the team at NeoRe to help develop and commercialize their La Marigen project. Initial analysis has shown meaningful amounts of valuable rare earth elements present at this project, including significant presence of heavy rare earth minerals, such as Terbium and Dysprosium, which are in high demand and not seen in commercially meaningful quantities in a lot of rare earth deposits. Along with our investments in other resources and mines, such as our Ferrox investment in the Limpopo Province of South Africa and our TR Mining & Equipment investment in Jamaica, we are continuing to position the Royalty Management to be a diversified leader in access to rare earth, critical mineral, and specialty metal resources that go into a variety of critical application, from both a commercial and defense perspective. As 2025 continues, we look forward to updating our shareholders as we continue our investment into this key sector for Royalty Management." The demand for heavy rare earth elements (or "HREE" as it is sometimes referred to) like Dysprosium and Terbium are soaring, driven by the growth of the electrified economy such as artificial intelligent (AI) data centers, electrified mobility, and defense applications, with expectations of a significant increase in demand over the next few decades A more detailed look at the demand for heavy rare earths and why the demand is rising include: Renewable Energy: The global shift towards renewable energy sources, especially wind power and electric vehicles (EVs), is a major driver of the increasing demand for rare earth elements. Permanent Magnets: Heavy rare earths are crucial components in the production of permanent magnets, which are essential for electric motors in data center cooling devices, power tools, EVs, wind turbines and defense applications. Other Applications: Rare earths are also used in consumer electronics, medical equipment, and many defense applications. Geopolitical Factors: China's dominance in rare earth production and processing, along with geopolitical tensions, have highlighted the need for diversified supply chains and increased domestic production in countries like the United States. Significant Growth Trend: The International Energy Agency (IEA) projects that demand for rare earth elements could increase three to seven times by 2040, and the United States demand for rare earth magnets is expected to more than quadruple by 2050. According to another study by Future Market Insights, the global rare earth metals market is projected to grow from $6.2 billion in 2024 to $16.1 billion by 2034, underpinning the importance of these elements. China currently dominates the production and processing of rare earth elements, creating a vulnerability in the global supply chain and prompting efforts to diversify sources and increase domestic production, such as the processing and refining capabilities of United States-based ReElement Technologies Corporation ( About Royalty Management Holding Corporation Royalty Management Holding Corporation (NASDAQ: RMCO) is a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in a variety of market environments. The model is to acquire and structure cashflow streams around assets that can support the communities by monetizing the current existing cash flow streams while identifying transitionary cash flow from the assets for the future. For more information visit Forward-Looking Statements This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those that will be set forth in the "Risk Factors" section of the Company's registration statement and proxy statement/prospectus to be filed with the SEC. Copies will be available on the SEC's website, The information contained in this release is as of the date first set forth above. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Company Contact:Thomas SauveChief Executive 245-2465 SOURCE: Royalty Management Holding Corporation View the original release on Sign in to access your portfolio
Associated Press
17-03-2025
- Business
- Associated Press
Royalty Management Holding Corporation Partners on Chilean Heavy Rare Earth Mine
Company acquires equity option in NeoRe SpA, the entity that holds the mineral rights to the La Marigen ionic REE clay project, containing rare earth elements Terbium, Dysprosium, Praseodymium, and Neodymium, among others Option allows Royalty Management to participate in the growth of NeoRe through equity participation FISHERS, INDIANA - March 17, 2025 ( NEWMEDIAWIRE) - Royalty Management Holding Corporation (Nasdaq: RMCO) ('Royalty Management' or the 'Company'), a forward leaning royalty company building shareholder value by acquiring and developing high value assets in a variety of resource-driven and emerging technology industries, is pleased to announce that it has partnered with NeoRe, SpA on the development and commercialization of their Chilean rare earth mine. The partnership is initially in the form of an option for Royalty Management to acquire an equity ownership position in the operations of the mine at a set valuation, giving the Company meaningful upside exposure to valuable resources at NeoRe's La Marigen project, which is located along the coastal belt of Chile and adjacent to other valuable regional rare earth deposits, such as Aclara Resources' Penco rare earth project. NeoRe's La Marigen Project consists of five license areas within ionic adsorption clay deposits that contain meaningful amounts of valuable rare earth elements. It also comprises 74 exploration applications and four granted exploration concessions covering over 56,300 acres of mining rights, located 50 miles north of Chile's second largest city, Concepciòn, a major industrial city with multiple ship loading terminals. The management and operational team at NeoRe has over a decade of experience with the successful evaluation, definition and development of ionic adsorption clay deposits with strong in-country technical relationships and have been conducting surface exploration and test work across the La Marigen region for the past three years. While currently under permitting and development, NeoRe is looking to accelerate the commercialization of La Marigen Project through a combination of private sector investment, such as that from Royalty Management, and governmental support. NeoRe has also recently signed a letter of intent with ReElement Technologies Corporation to incorporate localized processing and refining into La Marigen project, thereby providing unique commercialization opportunities and enhanced viability for the project as compared to other regional deposits of similar nature. Thomas Sauve, Chief Executive Officer of the Company, stated, 'After careful due diligence and verification of the deposit's resources and its composition, we are very excited about partnering with the team at NeoRe to help develop and commercialize their La Marigen project. Initial analysis has shown meaningful amounts of valuable rare earth elements present at this project, including significant presence of heavy rare earth minerals, such as Terbium and Dysprosium, which are in high demand and not seen in commercially meaningful quantities in a lot of rare earth deposits. Along with our investments in other resources and mines, such as our Ferrox investment in the Limpopo Province of South Africa and our TR Mining & Equipment investment in Jamaica, we are continuing to position the Royalty Management to be a diversified leader in access to rare earth, critical mineral, and specialty metal resources that go into a variety of critical application, from both a commercial and defense perspective. As 2025 continues, we look forward to updating our shareholders as we continue our investment into this key sector for Royalty Management.' The demand for heavy rare earth elements (or 'HREE' as it is sometimes referred to) like Dysprosium and Terbium are soaring, driven by the growth of the electrified economy such as artificial intelligent (AI) data centers, electrified mobility, and defense applications, with expectations of a significant increase in demand over the next few decades A more detailed look at the demand for heavy rare earths and why the demand is rising include: Renewable Energy: The global shift towards renewable energy sources, especially wind power and electric vehicles (EVs), is a major driver of the increasing demand for rare earth elements. Permanent Magnets: Heavy rare earths are crucial components in the production of permanent magnets, which are essential for electric motors in data center cooling devices, power tools, EVs, wind turbines and defense applications. Other Applications: Rare earths are also used in consumer electronics, medical equipment, and many defense applications. Geopolitical Factors: China's dominance in rare earth production and processing, along with geopolitical tensions, have highlighted the need for diversified supply chains and increased domestic production in countries like the United States. Significant Growth Trend: The International Energy Agency (IEA) projects that demand for rare earth elements could increase three to seven times by 2040, and the United States demand for rare earth magnets is expected to more than quadruple by 2050. According to another study by Future Market Insights, the global rare earth metals market is projected to grow from $6.2 billion in 2024 to $16.1 billion by 2034, underpinning the importance of these elements. China currently dominates the production and processing of rare earth elements, creating a vulnerability in the global supply chain and prompting efforts to diversify sources and increase domestic production, such as the processing and refining capabilities of United States-based ReElement Technologies Corporation ( About Royalty Management Holding Corporation Royalty Management Holding Corporation (NASDAQ: RMCO) is a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in a variety of market environments. The model is to acquire and structure cashflow streams around assets that can support the communities by monetizing the current existing cash flow streams while identifying transitionary cash flow from the assets for the future. For more information visit Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements,' including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those that will be set forth in the 'Risk Factors' section of the Company's registration statement and proxy statement/prospectus to be filed with the SEC. Copies will be available on the SEC's website, The information contained in this release is as of the date first set forth above. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
