Mitsubishi Materials signs MOU for US rare earths recycling
Mitsubishi Materials will invest in Indiana-based ReElement to recover rare earths and metals from used magnets and batteries, bolstering US-Japan supply chain security.
- Japanese company Mitsubishi Materials has signed a memorandum of understanding (MOU) with US-based ReElement Technologies Corp. to collaborate on recycling rare earths.
- The partnership involves a US-based project to recycle critical minerals from used magnets and batteries, with Mitsubishi Materials investing in ReElement.
- ReElement possesses technology to recover high-purity rare earths and rare metals from scrap, mining waste, and natural ores.
- The agreement is part of a broader US-Japan government initiative to establish a stable supply chain for critical minerals and reduce dependence on China.
Mitsubishi Materials Corp. signed a memorandum of understanding on Tuesday (March 31) with ReElement Technologies Corp. to collaborate on recycling rare earths and rare metals as part of efforts by the Japanese and US governments to ensure a stable supply of critical minerals.
Mitsubishi Materials, a Japanese metals company, will invest in Indiana-based ReElement to cooperate with a project in the United States to recycle resources from used magnets and batteries. The two companies are considering pursuing joint operations in Japan.
ReElement has technology to recover high-purity rare earths and rare metals from scrap such as used magnets and batteries, as well as natural ores and mining waste.
At a press conference in Tokyo, Mitsubishi Materials President and CEO Tetsuya Tanaka said that his company "hopes to contribute to rebuilding supply chains through the collaboration."
ReElement Chief Financial Officer Kirk Taylor said that the collaboration will be a powerful commercial embodiment of US-Japan cooperation.
Western countries are trying to establish rare earths supply chains that do not depend on China, which holds an overwhelming share.
During their summit meeting on March 19, Japanese Prime Minister Sanae Takaichi and US President Donald Trump agreed to support 13 projects involving Japanese and US companies, such as Mitsubishi Materials, to strengthen supply chains for critical minerals.
[Copyright The Jiji Press, Ltd.]
