NioCorp Advances Rare Earth Magnet Recycling Initiative

NioCorp Developments Ltd. has announced the successful testing of its hydrometallurgical process aimed at recycling post-consumer rare earth magnets. This initiative could enhance U.S. production of heavy rare earth elements, currently dominated by Asian markets.

Testing at NioCorp’s demonstration plant in Quebec has shown promising results. The process involves demagnetizing, grinding, and extracting rare earth elements from recycled magnets, using the Elk Creek Project's designed methods for critical mineral extraction.

CEO Mark A. Smith emphasized the potential environmental benefits and the opportunity to boost domestic rare earth production. COO Scott Honan highlighted plans to engage potential customers for a recycling program capable of meeting industry standards.

The project, still in its testing phase, holds substantial promise for enhancing supply chains and supporting circular economics, although further studies are needed to confirm its economic feasibility.