Canadian Neo and Cyclic Materials Partner on Rare Earth Recycling to Boost EU Processing Capacity

Published: Mar 4, 2026 14:59

Save

Neo Performance Materials of Canada and Cyclic Materials announced that they have reached a rare earth recycling agreement. Neo will supply Cyclic with magnet production scrap from its European plants, which Cyclic will recycle into mixed rare earth oxides for Neo to manufacture alloys and magnets. This move aligns with the objectives of the EU Critical Raw Materials Act and enhances rare earth processing and recycling capacity.
Neo operates a 2,000 mt/year magnet facility in Estonia and is expected to expand it to 5,000 mt/year. Cyclic is building a recycling campus in South Carolina, with initial capacity of 2,000 mt/year for magnet processing and 600 mt/year for mixed rare earth oxides, which will increase to 6,000 mt/year and 1,800 mt/year, respectively, after expansion.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Japan and India in Talks to Explore Rare Earth Minerals in Rajasthan, Tech Support Expected

Japan is currently in talks with India on jointly exploring rare earth mineral deposits in Rajasthan. The Japanese government intends to dispatch experts to the site and is expected to provide mining technology support to Rajasthan.

1 hour ago

Norway's Fen Rare Earth Project Sees 81% Resource Increase, Boosting European Supply Independence

Rare Earths Norway announced a significant increase in the mineral resource valuation of its Fen rare earth project, which now contains a total of 15.9 million mt of rare earth oxides, up 81% from the 8.8 million mt assessed in 2024. Located in southern Norway, the project is the largest rare earth ore under development in Europe, and the resource increase is mainly based on the results of last year’s supplementary exploration drilling. The company said this will help the European continent reduce its reliance on China’s rare earth supplies.

1 hour ago

Common.Time.hoursAgo

Rising Energy Prices Push Up Lanthanum-Cerium Oxide Prices Abroad

【SMM News on March 4】Driven by rising domestic prices and international energy prices, overseas lanthanum-cerium oxide prices increased across the board. Lanthanum oxide FOB was assessed at $960-1,020/mt, up $30/mt; cerium oxide FOB was assessed at $1,883-1,967/mt, up $125/mt; and cerium oxide CIF (Port of Rotterdam) was assessed at $2,550-2,560/mt, up $135/mt. According to the SMM survey, this round of price increases was a normal market fluctuation and has not yet caused significant cost pressure on overseas buyers.

Common.Time.hoursAgo