These must be imaginary magnets that are being recycled.
Note that 40% of REO are pulled out the ground outside china. By the time they are turned into magnet only 6% is down outside china.
Once the magnets are made they go into a variety of assets across the globe. But it is only china that's currently recycling. This opportunity would allow ROW to recycle the REO from their end product even if the magnet themselves were made in China.
All IXR and ROW need is to increase the magnet production. Then they've got the ability to recycle REO which at some point in the supply chain wound up in chinese ventures and/or become completely circular and ensure from mine to magnet to recycle nothing goes that way.
Magnet recycling is arguably the most effectively method for western world to recapture minerals which are mostly produced/refined inside china. Moreover it's modular in nature and can be deployed across the globe.
SF2TH
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