Looks like the US have big payers , first movers in the REE recycling play, Posco

ReElement, Posco partner to develop rare earth, magnet supply chain

Under the agreement, ReElement will use its proprietary technology for rare earth magnet recycling and ore purification to produce magnet-grade rare earth oxides to power Posco’s magnet manufacturing.

ReElement Technologies Corp., a rare earth and battery materials refiner and a wholly owned subsidiary of Fishers, Indiana-based American Resources Corp., has signed a memorandum of understanding with South Korea-based Posco International.

Under the agreement, ReElement will integrate its magnet recycling and rare earth ore refining processes into Posco’s global rare earth magnet manufacturing network. American Resources says ReElement will become the primary North American refiner supplying Posco with heavy and light rare earth elements, supporting Posco’s permanent magnet vertical as they satisfy nearly $900 million in announced original equipment manufacturer (OEM) contracts.

“This partnership also highlights ReElement’s ability to catalyze and build a robust and sustainable supply chain. Additionally, we are confident that the unique strengths of our platform technology will enhance our capacity to source quality feedstock from around the world to support our current and emerging manufacturing base. Offering Posco’s North American and European OEM customers a diversified supply chain for rare earth magnets is key to reducing volatility and costs in electric transition.”

https://www.recyclingtoday.com/news/reelement-posco-partner-to-develop-rare-earth-magnet-supply-chain/