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November 30, 2022
Canadian company CYCLIC MATERIALS JOINS REIA
Cyclic Materials is creating a circular supply chain for rare earths, materials that make critical components such as in electric vehicles and wind turbines. Their consumption is growing so rapidly that the mining of rare earth elements cannot keep up with demand, with shortages of as much as one third of demand projected in coming years. These shortages risk derailing the ambitious plans of auto manufacturers and wind turbine companies.
Cyclic Materials believes that recycling will help resolve these shortages. Recycling will bring domestic production on-line faster than a new mine can be permitted and will reduce this supply pressure and the need to open new greenfield mines. Most metals are produced with approximately 40% recycled material, but only about 1% of rare earths are recovered at the end of life, indicating that rare earth recycling may grow as much as forty-fold from its current level.
The company has completed its pilot plant in Kingston, Ontario, producing samples of high purity recycled rare earth oxides which will be sent to downstream service providers. The company is now focused on building its first commercial plant, the first step in scaling up its innovative recycling process in North America.
Cyclic Materials’ co-founder Patrick Nee says that joining REIA will allow the company access to leaders in the rare earth industry, facilitating collaborations and partnerships. “REIA events draw every player in the supply chain, as well as application designers such as magnet manufacturers and motor designers. The events are an efficient way to meet everybody in the industry.”
Dr Badrinath Veluri, President of REIA, said: “We are very pleased to welcome Cyclic Materials as a new member. We, at REIA, believe that the need for sustainably recycled rare earths is an absolute priority for meeting the future demand. A warm welcome to Patrick Nee and his team. We look forward to working with them”
About REIA
REIA, a non-profit organization, is the only global association advocating the rare earth element (REE) Industry. Founded in 2019 and developing rapidly, REIA now counts around 50 members from around the world, representing key industry stakeholders throughout the whole rare earth value chain as well as policy makers, research institutes and academics.
Our core mission is to promote and support a sustainable, responsible, collaborative and transparent REE value chain and the use of rare earths in appropriate applications. To that effect, we are currently developing a framework and guidelines to help standardize ESG reporting accepted by all stakeholders, both upstream and downstream.
We provide our members with a platform where they can network and benchmark; make their voice heard by policy makers, regulators and key stakeholders; find potential partners; access and share data, information and best practices; get visibility and highlight their engagement towards a more sustainable supply chain.
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