NioCorp Developments Ltd. announced on October 30, 2024, the successful completion of initial bench-scale testing for recycling post-consumer permanent rare earth magnets. This testwork was conducted by L3 Process Development at NioCorp's demonstration plant in Trois Rivieres, Quebec.
The testing demonstrated that NioCorp's proposed hydrometallurgical process, designed for its Elk Creek Critical Minerals Project ore, can effectively demagnetize, grind, and extract rare earth elements from these magnets. This establishes the viability of using the company's production process for recycling applications.
CEO Mark A. Smith stated that this successful outcome not only validates the process for its ore body but also for recycling, which can dramatically reduce net CO2 emissions in manufacturing. This capability also has the potential to boost domestic production of heavy rare earths in the U.S., which are currently produced almost entirely in Asia.
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