Mentioned:
ALOY -9.10% CRML -11.17%
There’s a new rare earth magnet company on Wall Street. And they’re aiming to become one of the most important players in rare earth refining, processing and magnet production.
What’s happening:
- REalloys (NASDAQ: ALOY) has successfully completed their reverse merger and has begun trading on the Nasdaq
Why it matters:
- REalloys is one of the only publicly traded companies in North America developing a fully integrated supply chain for rare earth processing and rare earth magnet production and has already secured offtake deals with notable rare earth mining companies including Critical Metals Corp (NASDAQ: CRML)
Going deeper:
- REalloys just recently made waves when they cut a deal with Kazakhstan based private mining company AltynGroup in which AltynGroup will supply REalloys with iron tailings that contain both light and heavy rare earth elements, including highly important rare earth elements terbium and dysprosium
- The Saskatchewan Research Council and REalloys have also formed a joint venture in which the Saskatchewan Research Council will provide 80% of their annual production and processing capabilities for rare earth elements to REalloys in exchange for REalloys committing $21M CAD in funding to build out of one the most significant commercial scale facilities in North America for heavy rare earth refining and processing
The intrigue:
- The Export-Import Bank of the United States previously gave REalloys a letter of interest for $200M USD in debt financing in order to accelerate their production of rare earth magnets that are essential for defense and military purposes
