Novare, the South African based multi-disciplinary asset manager and ReElement Technologies Corporation, a subsidiary of American Resources Corporation (NASDAQ:AREC) and a leading provider of rare earth minerals refining solutions, have announced $ 100 million (R1,8 billion) rare earth and critical battery elements refining facility in Africa. Development of the facility is expected to begin in the second half of 2025.
This milestone agreement representsa pivotal step toward establishing Africa’s first critical and rare earth element refining facility, focused on producing high-purity elements essential for advanced technologies in both the commercial and defense sectors.
The facility will useReElement’stechnology to produce high-purity lithium carbonate, rare earth oxides, and other critical minerals. The facility will use locally sourced feedstock and skillsto support the growing demand in the battery and defense industries within both Africa and North America.
ReElement Technologies Africa will contribute its advanced chromatographic separation and purification platform technology along with project management expertise, while Novare will provide the necessary capital investmentalong with operational management.
ReElement has successfully developed its versatile chromatographic, multi-mineral, multi-feedstock technology solution which can separate, purify and refine rare earth and critical elements in a manner that is scalable, cost effective and environmentally friendly.
Ola Leepile, the CEO of Novare Group, commented “Novare is excited about this collaboration’s potential for securing reliable and quality critical mineral supplies. It aligns seamlessly with our vision of being an impactful investor by establishing Sub-Saharan Africa’s first battery and critical minerals manufacturing facility. Through this partnership, we are confident that value addition and resource beneficiation can be achieved locally.”
Ben Kincaid, CEO of ReElement Technologies Africa added, “This partnership reflects our commitment toinnovation in the critical minerals sector. Together with Novare, we are bringing innovative refining technology to the region, enabling nations toenhance and capture the value of their natural resourcesandcatalyseindustrial economic development on the continent. Novare will lead the way forward, modelling how African nations can and must serve as primary stakeholders in the global supply chain for critical minerals.”
ReElement Technologies Africa and Novare look forward to collaborating to leverage opportunities which make a positive impact on the industries they serve.
ReElements says as it expands and scales production across its own and partner facilities, it will play a key role in reducing U.S. dependence on foreign sources of critical raw materials while also fostering a true circular life-cycle solution.
Learn more about ReElement Technologies’ process and technology here – Video.