Production has started at a Massachusetts-based rare earth refinery – the first in the US.
Phoenix Tailings, the company behind the startup, uses the rare earth refinery to meet critical supply chain demands by refining neodymium, dysprosium, and other rare earth metals in the US.
The metals are the first to be produced commercially in the US, showcasing the power of American ingenuity and innovation in reshoring these critical materials from China.
Why does the US need rare earths?
The US must establish a secure rare earth supply chain, as the country currently relies on 90% of these imports from China.
These critical materials are vital to almost everything manufactured today, from smartphones and electric vehicles to satellites and fighter planes. Every aspect of modern manufacturing uses at least one of these 17 elements.
The US Inflation Reduction Act aims to extract rare earths from environmentally friendly sources, and a domestic rare earth refinery will help to meet this target.
“We are currently seeing a rush of new players in the rare earth space focused on the extraction or concentrate production. Unfortunately, these materials still need to be sent to China to be refined,” said Nick Myers, Chief Executive Officer and Co-Founder of Phoenix Tailings.
“At Phoenix Tailings, we are solving this critical gap with our technology to reduce America’s dependence on foreign governments. That’s one of the reasons we are so excited about the commercial production capacity at our rare earth refinery.”
See the full story: Phoenix Tailings begin production at US’ first rare earth refinery