HOUSTON, July 7th (Argus) - US rare earth developer Realloys has signed an agreement with South Korean magnet producer JS Link to develop rare earth magnets in North America.
Realloys said on Tuesday that, based on a non-binding letter of intent, the two companies will assess the opportunity to create a rare earth upstream and downstream supply chain covering raw materials, separation, metals and magnet production for the US defense, aerospace, automotive, robotics, artificial intelligence and energy industries.
Realloys recently collaborated with the US Army to assess the development and operation of a rare earth processing facility at the Tooele Army Depot in Utah to produce defense-level heavy rare earth materials.
JS Link operates a magnet factory in South Chungcheong Province, South Korea, with a capacity of 1,000 metric tons per year, and plans to invest $223 million to build a new facility in Georgia, USA, to produce 3,000 tons of magnets per year, with production expected to start in 2027.
Australian rare earth producer Lynas today agreed to invest in JS Link and build a magnet factory in Malaysia, close to Lynas' separation plant, to produce 3,000 tons of magnets per year.
Realloys wholly owns the Hoidas Lake project in Saskatchewan, Canada, and collaborates with the Saskatchewan Rare Earth Separation and Processing Research Committee. It also partners with US, Brazilian and Kazakhstani companies.
In May this year, the company signed a 15-year purchase agreement with Critical Metals to purchase rare earth concentrates from the Tanbreez project in southern Greenland.
