FISHERS, IN – In a significant move to strengthen the U.S. rare earth refining capabilities, ReElement Technologies has entered into a long-term commercial offtake agreement with POSCO International America Corp. This partnership aims to bolster collaborations between the United States and South Korea, promoting sustainable supply chains vital for defense, clean energy, and advanced technological sectors.
Collaboration Highlights
The partnership combines the innovative chromatographic separation and purification technologies developed by ReElement with the extensive industrial connections of POSCO across the automotive and industrial sectors. As part of this agreement, both companies will establish a joint task force focused on sourcing rare earth feedstock, which will include both recycled materials and ore-based resources. The deal aims for an initial targeted offtake of purified rare earth oxides such as Dysprosium, Yttrium, Terbium, and Neodymium-Praseodymium, with plans to scale production to over 3,000 metric tons by 2030.
The collaborative effort will also involve the development of rare earth refining capabilities within the U.S., utilizing ReElement‘s modular and scalable technology. This approach is designed to enhance operational efficiency while minimizing environmental impacts, thus supporting resilient and sustainable supply chains for the U.S. and its allies.
Strategic Vision
The signing of this agreement builds upon a recent Memorandum of Understanding established in Seoul, underlining a shared commitment to long-term collaboration and industrial deployment. Mark Jensen, CEO of ReElement Technologies, highlighted the importance of this partnership, noting that merging their innovative refining technology with POSCO‘s industrial expertise not only scales rare earth refining but also reshapes the supply dynamics of these critical resources in the global market. Jensen emphasized that this collaboration is a response to the urgent need for secure and sustainable rare earth supply chains that are essential for national defense readiness and the advancement of next-generation technologies.
Impact on the Global Landscape
This partnership represents a pivotal development in the realm of critical minerals by localizing refining capacities and reducing dependence on foreign processing entities. The efforts by ReElement and POSCO are expected to enhance long-term supply security for industries that are crucial to economic growth and national security.
About the Companies
POSCO International America Corp is recognized globally for its leadership in steel production and advanced materials. The company is committed to pioneering sustainable solutions that contribute to a greener future. Meanwhile, ReElement Technologies, a portfolio company of American Resources Corporation, specializes in high-performance refining of rare earth and critical battery elements, focusing on sustainable processes that include recycling and efficient resource recovery.
With this partnership, both companies aim to address the growing global demand for rare earth elements, positioning themselves as key players in a critical industry that is vital for technological advancement and sustainability. For more information, visit the companies’ respective websites and follow their updates on social media platforms.
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