Highlights
REEcycle has developed a process that has shown at pilot scale the ability to reclaim 15 of the 17 rare earth elements in discarded permanent NdFeB magnets, with a recovery efficiency in excess of 99%
The patented process developed at the University of Houston uses a proprietary solvent to safely and efficiently extract REEs from permanent magnets found in wind turbines, electric vehicles (cars, bikes, scooters), MRI machines and other electronic waste with low temperatures, low pressures, and minimal energy needs and waste
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
The global permanent magnet market size was valued at USD$17.85 billion in 2018 and is projected to reach USD$34.70 billion by 2026, exhibiting a CAGR of 8.7% during the forecast period, with the rare earth metals component being valued at US$5.3 billion in 2021 with only 1% of REEs sourced from recycled end of life products
Shanghai Metals Market (SMM) forecast recycling of NdFeB magnets is likely to be the largest growth of neodymium and dysprosium supply from 2021 to 2025
“Our shareholding in REEgenerate represents an exciting addition to our portfolio
of exploration assets, particularly our REE projects. We will continue to update the market on this investment in parallel with the development of our resource projects”.
Jeremy Bower, Reach Resources CEO