From South Korea to Australia and Brazil – this week, multiple companies inked deals on supply chains of critical minerals. The otherwise rather tame week ended with the United States announcing a massive spending of $7.3 billion in rural clean energy projects—the details in our roundup.
South Korea and Australia Bolster Cooperation on Critical Minerals, Energy
South Korea and Australia announced they would deepen their ties to critical minerals and clean energy. South Korean Trade Minister Inkyo Cheong’s Cheong signed a MoU with Western Australia’s Premier over critical minerals and energy and held discussions with Australia’s resource minister, among other things.
To the article.
From Tasmania to North America: ABx, Ucore Sign MoU Over Rare Earths
Australia-based ABx Group and Canadian critical minerals company Ucore Rare Metals have signed a Memorandum of Understanding (MoU) to establish a rare earth supply chain from Australia to North America. Under the MoU, the two parties will work towards a binding offtake agreement for rare earth carbonate from ABx’s Tasmanian rare earth project to be shipped to Ucore’s separation facility in Louisiana.
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Brazilian Critical Minerals Signs MoU With Latin America’s First Magnet Maker
Australia-based mining and exploration company Brazilian Critical Minerals (BCM) has signed a Memorandum of Understanding with the Brazilian national training service for the industry of Minas Gerais, owner of Lab Fab. Lab Fab is developing Latin America’s first rare earth magnet production facility. BCM is in the early exploration stages of its Ema rare earth project in Northern Brazil.
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U.S. to Spend $7.3 Billion on Rural Clean Energy Projects
The United States Government announced Thursday that it will allocate $7.3 billion from the Inflation Reduction Act (IRA) budget to finance clean energy projects in rural areas. According to the White House, the investment in 16 projects will help bring clean energy to citizens across 23 states and make it more affordable. The projects range from installing renewable energy capacities to implementing battery energy storage and carbon capture methods.
To the article.
Canada to Ramp Up Critical Mineral Recycling in Ontario
The Canadian Government seeks to boost domestic recycling of critical minerals by awarding two companies in Ontario a total of $6 million (CAD$8.4 million). Cyclic Materials, a recycling company mainly focusing on the recovery of rare earth elements, will use the funding to advance the construction of a demonstration plant to produce mixed rare earth oxide and cobalt–nickel mixed hydroxide from recycled materials. Green Graphite Technologies on the other hand, specializes in the recovery of its namesake, graphite, from various sources to produce battery-grade graphite.
To the article.
