ESG & REECYCLE
Environmental , Social & Governance at Reach Resources
Reach Resources is proud to have just completed its first ESG report to set a baseline for the standards and commitments the Company is striving for to contribute to a sustainable future.
Our objective is to source the critical minerals required to power a cleaner and greener future for the planet. However, during this process we commit to respect the communities and environment whose land we explore. We commit to open and honest communication with the Traditional Owners of the land and other stakeholders such as pastoralists and nearby towns and communities. We commit to undertaking thorough and independent environmental assessments and upholding the relevant environmental legislations and policies before we disturb any land.
We commit to investing in technology that reduces the need for further mining in the future as evidenced already with our investment in REEcylce Inc, a rare earth magnet recycling technology. We commit to striving to ensure that we use best practices so that our exploration reflects our desire to be a part of the clean green electric revolution.
As Reach Resources advances its ESG strategy, it will be sharing its efforts and impact regularly, in line with its annual reporting cycle.
In pilot testing, REEcycle has been able to achieve up to 99.8% separation/recovery efficiency of pure rare earth elements from the other materials in the magnet (Iron and Boron). The process is carried out at atmospheric pressure, under mild temperatures, producing water (pH 6) which contains Iron and Boron at concentrations compliant with those specified by municipal sewage treatment systems. Rare Earth Oxide (REO) concentrate exists in carbonate form but can easily be converted to an oxide.
REEcycle aims to provide an alternative option to traditional mined sources of rare earth metals as well as reduce supply chain uncertainty and geopolitical risk for companies reliant on these materials. Some benefits of this process include:
REEcycle has received significant positive support from reputable sources like the Scientific American, stating “With their innovative (and proprietary) approach to recycling a pair of critical rare earth materials, the REEcycle team introduced the energy industry to an innovative way to turn waste into a domestic stream of rare earth elements.”
Rare Earth Elements are a part of the unstoppable macro-environment movement with the global economy transitioning to cleaner energy sources. Market applications of NdFeB magnets include wind turbines, electric vehicles, electric bikes and air conditioning with demand increasing by 17.5% annually. REEcycle is positioned to take advantage of growing applications of NdFeB magnets by recycling end-of-life products and supply ethically sourced REEs to the market.