[SMM Flash News: US and Indian Companies Establish REE Joint Venture] To strengthen the development of a secure supply chain for critical minerals, American Resources Corp., along with its subsidiary ReElement Technologies Corp., has established a joint venture with India's Exigo Battery Solutions Pvt. Ltd. The venture is dedicated to recycling rare earth magnets from discarded items such as EV motors, hard disk drives, wind turbines, and MRI machines.
The joint venture will integrate ReElement's advanced chromatography separation technology with Exigo's profound expertise in the procurement and processing of rare earth concentrates to produce high-purity oxides, such as neodymium, praseodymium, dysprosium, and terbium, aiming to achieve an annual production target of 2,000 mt or higher.