CoTec Holdings' HyProMag USA Unveils Major Expansion, $2.18B Potential Value

[SMM Rare Earth Express] US President Trump signed an executive order, requiring the Department of Defense to stop issuing most waivers by January 1, 2027, no longer allowing defense contractors to procure critical minerals and rare earth magnets such as samarium cobalt magnets, NdFeB magnets, tantalum, tungsten and molybdenum from "non-allied countries" including China, Russia, Iran and North Korea. Under the new rules, after 2027, only contractors who have submitted supply chain rectification plans approved by the Department of Defense, documented material sources, and a clear timetable for phasing out non-compliant materials may apply for waivers. Additionally, Trump required the Department of Defense to formulate a supply chain traceability policy within 180 days, pushing contractors to establish a full-chain traceability system from raw materials to end-use products, and to strengthen the certification of domestic critical minerals and materials, so as to enhance the security of the national defense supply chain.

[SMM Rare Earth News] Canadian rare earth recycling company Cyclic Materials has reached a cooperation agreement with US electronic waste recycler ERI. Leveraging ERI’s nationwide recycling network and eight processing centers, the partnership will recover rare earth magnets and other critical minerals from electronic waste, building a circular supply chain for critical minerals in North America. Under the agreement, ERI is responsible for the collection and pre-processing of electronic waste, while Cyclic will recover high-purity rare earth oxides from NdFeB magnets and simultaneously extract key materials such as copper and aluminum at its plant in Arizona. The plant has an annual processing capacity of 25,000 mt. The two parties also plan to jointly bid on commercial and government recycling projects, expanding the layout of critical mineral circular utilization. Previously, Cyclic had signed a 10-year cooperation agreement with German magnetic material company VAC to recycle NdFeB scrap generated at its US plant, further strengthening the rare earth supply chain in North America.