21 March 2022. Reach Resources announces rare earth element recycling investment Reach Resources. (ASX: RR1) has opened 12.5% higher after investing $1.8m to gain a 10% stake in REEgenerate, an Australian private company that owns the Coconut Club rare earth element (REE) exploration project in Quebec, Canada.
REEgenerate has an option to fully acquire REEcycle, which has developed a patented process to reclaim 99% of all rare earth elements in discarded neodymium magnets. These magnets will come from end-of-life electric vehicles, window turbines, and other electronic waste. “With their innovative (and proprietary) approach to recycling a pair of critical rare earth materials, the REEcycle team introduced the energy industry to an innovative way to turn waste into a domestic stream of rare earth elements,” says Scientific American.
Almost two years on I ask the Directors: Please Explain!!!
RR1 Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
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