Posco International to build rare earth plant in US
2026-05-25 17:22:06 [Print]
Posco International announced on May 22 that it will construct a rare earth separation and refining facility in the United States via a joint venture with ReElement Technologies.
The trading and energy arm of South Korea's Posco Group inked the joint venture agreement with ReElement in Washington on May 21. Under the deal, the two companies will together invest $200 million to build a U.S.-based rare earth separation and refining plant with a nameplate capacity of 6,000 tonnes per year. They also intend to set up an integrated production complex for permanent magnets.
Posco International will oversee management of the venture as the largest shareholder, while ReElement will supply core rare earth refining and separation technology.
The facility will produce neodymium-praseodymium oxide, a critical material for permanent magnets, as well as heavy rare earth oxides such as dysprosium and terbium.
Production will start at an annual capacity of 3,000 tonnes before rising to 6,000 tonnes in a later phase. Pilot output is targeted for the fourth quarter of 2027, with full-scale commercial production expected in 2028.
The trading and energy arm of South Korea's Posco Group inked the joint venture agreement with ReElement in Washington on May 21. Under the deal, the two companies will together invest $200 million to build a U.S.-based rare earth separation and refining plant with a nameplate capacity of 6,000 tonnes per year. They also intend to set up an integrated production complex for permanent magnets.
Posco International will oversee management of the venture as the largest shareholder, while ReElement will supply core rare earth refining and separation technology.
The facility will produce neodymium-praseodymium oxide, a critical material for permanent magnets, as well as heavy rare earth oxides such as dysprosium and terbium.
Production will start at an annual capacity of 3,000 tonnes before rising to 6,000 tonnes in a later phase. Pilot output is targeted for the fourth quarter of 2027, with full-scale commercial production expected in 2028.
