Mentioned:
Vulcan Elements wants to scale up the manufacturing of rare earth magnets in America. And now, they’re partnering up with a publicly traded company to do it.
What’s happening:
- American Resources Corporation (NASDAQ: AREC) subsidiary ReElement Technologies has entered into a new multi year deal to supply rare earth magnet producer Vulcan Elements with high purity rare earth oxides
Why it matters:
- The new partnership between American Resources Corporation and Vulcan Elements is aiming to establish one of the first complete domestic supply chains for rare earth magnet production in the United States
Going deeper:
- American Resources Corporation subsidiary ReElement Technologies will specifically supply Vulcan Elements with high purity neodymium, neodymium-praseodymium and dysprosium
- Vulcan Elements just recently made major waves in Silicon Valley when legendary venture capital fund Altimeter Capital Management led their $65M USD Series A financing round
The intrigue:
- Domestically produced rare earth magnets have also been an emerging theme in the public markets lately, with General Motors (NYSE: GM) just recently cutting a dal with Noveon Magnetics for rare earth magnet supply
