Novare Holdings backs the expansion of ReElement Technologies’ Indiana refinery, which processes both rare earths and lithium.
U.S.-based resource company American Resources Corporation has secured a $150 million investment commitment from Novare Holdings, a South African investment firm. The funding will support the expansion of a critical materials refinery in Indiana, operated by its subsidiary ReElement Technologies.
According to the company, the facility is the only one in the world capable of producing both light and heavy rare earth elements as well as lithium. It can process a wide range of feedstocks, including mined ores and recycled materials. The underlying refining technology, originally developed by pharmaceutical giant Purdue for high-purity drug production, is exclusively licensed to ReElement. The company claims the method is more environmentally friendly than conventional solvent extraction techniques, while also being scalable and modular.
This is not the first collaboration between American Resources and Novare. In February, the two companies announced a joint venture to build Africa’s first integrated critical minerals refinery, aiming to increase local value creation in resource-rich countries that traditionally export raw materials for processing abroad. The timing is notable: just days ago, Gabon became the latest country to introduce an export ban on unprocessed raw materials, following similar moves by Namibia and other nations seeking to capture more value from their mineral wealth.
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