American Resources' ReElement, POSCO to Develop Rare Earth Magnet Facility in US

MT Newswires Live

Sep 18

American Resources (AREC) said Thursday its ReElement Technologies unit has signed a memorandum of understanding with POSCO International to build a vertically integrated rare-earth and permanent-magnet production complex in the US.

The facility will handle the full supply chain from raw material sourcing to magnet recycling in a single location, with ReElement contributing refining and recycling technology and POSCO leading the sourcing and magnet operations, according to the company.

The partnership aims to reduce supply chain risks and ensure long-term availability of critical materials for global automakers, the company said.

POSCO plans to expand into full drivetrain components, including motor-core rotor and stator parts, the company added.

Price: 2.55, Change: +0.01, Percent Change: +0.31

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