Novare Holdings invests in ReElement to expand rare earth refining in Indiana
From Yahoo Finance: 2025-06-03 10:54:00
American Resources, via subsidiary ReElement Technologies, receives anchor investment from Novare Holdings to expand rare earth element refining in Marion, Indiana. The $150m financing will enhance refining capabilities at the former RCA-Thomson television factory site, now an advanced manufacturing hub. ReElement’s patented technology produces high-purity rare earth oxides crucial for advanced technologies. Novare’s investment supports US technological growth and sets a precedent for international partnerships with Africa.
Novare’s investment in ReElement also extends to Africa, establishing the continent’s first multi-mineral refining facility. This initiative aims to promote local industrial development, secure supply chains, and shift to a more efficient, environmentally friendly refining platform. Novare believes in African institutional capital’s role in global industrial transformation, supporting US innovation and African industrial development.
Furthermore, American Resources and ReElement Technologies have expanded their antimony refining contract to supply ultra-pure antimony products for US defence and commercial industries. The extended agreement, expected to generate over $29m in annual tolling revenues, demonstrates the commitment to enhancing the US supply chain for critical minerals.
Read more: Novare Holdings invests in ReElement to expand rare earth refining in Indiana