US and Indian companies establish rare earth joint venture

Recently, to promote the establishment of a secure supply chain for critical minerals, ReElement Technologies Corp., a subsidiary of American Resources Corp., has formed a joint venture with India's Exigo Battery Solutions ptt. Ltd. The joint venture will focus on recovering rare earth magnets from discarded electric vehicle motors, hard disk drives, wind turbines, and magnetic resonance imaging (MRI) equipment.

The joint venture will combine ReElement's advanced chromatography separation technology with Exigo's expertise in rare earth concentrate procurement and processing to produce high-purity rare earth oxides, including neodymium, praseodymium, dysprosium, and terbium, with an annual production target of over 2,000 metric tons. In the initial phase of the collaboration, Exigo will supply rare earth concentrates to ReElement's facility in Marion, Indiana, USA, where the concentrates will be refined to a purity of 99.5% or higher.

Extraction of rare earth elements

In the future, both parties plan to introduce ReElement's technology to India to enhance local rare earth processing capabilities, reduce transportation costs, and further lower production expenses.  

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