The Elements of Innovation Discovered
The Elements of Innovation Discovered
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Geomega Resources Inc. has entered into a preliminary agreement to recycle rare earths from a neodymium-iron-boron magnet production facility Everwin Magnetics Co. is developing in Ontario, Canada. Everwin is a subsidiary of Forte Mobility Co., a private company established in 2019 to design and manufacture customized electric buses and vans for public transit agencies and fleet customers in North America. Toward this goal, the company recently acquired a 435,659-square-foot...
A pair of Texas congressmen, Republican Lance Gooden and Democrat Vicente Gonzalez, have introduced the Reclaiming American Rare Earths Act, bipartisan legislation aimed at reducing America's dependence on China for rare earth elements and other critical minerals. The United States depends on foreign countries for more than 50% of its supply of 31 of the 35 minerals considered critical to the nation's economic wellbeing and national security, including 100% import-reliant for...
It is estimated that upwards of US$13.8 billion of rare earth magnets are imported into the United States each year, which is creating a stockpile of some of the most widely used rare earth elements. These powerful REE magnets are used in a wide variety of applications – high-performance motors in electric vehicles, wind turbines and generators, medical magnetic resonance imaging (MRI), and high-fidelity speakers to name a few. Canada-based Geomega Resources Inc. has d...
Already involved in nearly every facet of the rare earth supply chain, from mining these technology elements to manufacturing powerful REE magnets, USA Rare Earth LLC has cut a deal with Geomega Resources Inc. to recycle these metals. Under a letter of intent signed by the companies on July 15, Quebec-based Geomega would recycle rare earth-containing waste from producing neodymium-iron-boron permanent magnets at a facility New York-based USA Rare Earth is planning to build in...
