Reported 4 days ago
BMW and Yamaha Motor have invested in Phoenix Tailings, a U.S. startup focused on processing rare earths, aiming to enhance the production of these crucial metals outside China. The company claims to have a more environmentally friendly method for extracting rare earths from mined ore and recycled materials. With $43 million raised in its Series B funding round, Phoenix will build a facility in New Hampshire to produce 200 metric tons of rare earths annually, aiming for increased independence from Chinese supply chains and potential future public offerings.
Source: YAHOO