Cyclic Materials , a Kingston-based startup focused on recycling rare earth elements from magnets in wind turbines, magnetic resonance imaging machines, electric vehicles and other electronic waste, inked a deal with Solvay, a Belgian chemical company, on June 18 , which will see recycled mixed rare earth oxide ( rMREO ) from Cyclic Material’s Hub100 facility in Kingston shipped off to Solvay ’s La Rochell e facility in France later this year. Once the rMREO arrives at Solvay’s operation, it will be used for electric vehicle s , wind power and electronic applications .
This recent agreement is an extension of the memorandum of understanding (MOU) that was signed by both companies in February 2023. Since th e agreement was signed , Cyclic Material s ’ rMREO product has been validated by Solvay’s rare earth separation process , confirming the technical and commercial feasibility of Cyclic’s rare earth material . Magnets
“ The EU has made significant strides in reducing the West’s near-total dependence on China for rare earths and magnets, and this relationship between Cyclic and Solvay creates a great overseas partnership to solidify Canada’s role in closing this gap in the global energy transition, ” said Ahmad Ghahreman , co-founder and chief executive officer of Cyclic Materials, and An Nuyttens , president of Solvay , in a joint-statement email to CIM Magazine .
Cyclic Materials’ long-term goal is to develop facilities in North America, Europe and Asia to meet the increased demand for domestically sourced r MREO . Cyclic Materials’ Hub100 facility first opened on June 6 and has the capacity to recycle 10 tonnes of magnetic material annually, which is then used to create rMREOs .
This agreement will als o aid Solvay in establishing its rare earths hub in La Rochelle for the permanent magnets value chain . Solvay’s facility in France is currently the only site in Europe that is able to process light and heavy rare earth materials at an industrial scale .
The CIM Magazine Weekly Mining News Recap for June 21
Permanent Magnets The CIM Magazine Weekly Mining News Recap for June 14