Beatrice, Nebraska and Franklin, Indiana, February, 2 2016 – Rare Earth Salts (´RES” or the “Company”), a leading mineral and applications technology company, and Rare Earth Recovery Sciences (‘RERS’), a leading buyer of retorted compact florescent lightbulb phosphor powder, today announced the signing of a five year commercial agreement to produce separated rare earth oxides in the United States.
“This is an important step towards accomplishing our goal of producing significant quantities of economic and marketable high purity rare earth oxides in the United States,” said Dr. Joseph Brewer, Chief Executive Officer of RES. “RERS is an ideal partner for RES and this agreement facilitates the production of saleable product this year.”
“We have been evaluating the rare earth market for some time given our significant stockpile of retorted phosphor powder,” said Graham Wollaston, Chief Executive Officer of RERS. “RES’ technology allows for the economic production of rare earths from this stockpile despite the current depressed pricing environment. We are looking forward to bringing product to market.”
The five year commercial agreement will ultimately see the production of 18 MT per month of rare earth oxides, following an initial ramp up period. An option exists to expand production to 30 MT per month. The Parties expect to produce high purity Yttrium, Europium, Terbium, Cerium, and Lanthanum oxides with initial saleable product expected in the second half of 2016.
RERS will produce a rare earth concentrate in collaboration with Lighting Resources, LLC using technology provided by RES. The concentrate will be shipped to RES’ Nebraska facility for separation and purification.
About Rare Earth Salts
Rare Earth Salts is a leading industrial and applications technology company with the goal of achieving near term commercial production. The Company has developed a patent pending industrial technology proven to efficiently and economically separate and refine all 16 Rare Earth Elements to high purity. The process is environmentally friendly and projects significantly reduced cost versus standard processing. For more information visit: www.rareearthsalts.com.
About Rare Earth Recovery Sciences
RERS, LLC is a buyer and processor of retorted phosphor powders from used lighting and phosphors recovered from CRT recycling. Following initial commercialization of separated rare earths from these sources, RERS intends to expand its operations to include the recovery of rare earths from other waste streams such as used electronics and batteries.
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Chief Operating Officer
Rare Earth Salts