KoreaZinc announced on Tuesday that it has entered into a strategic partnership with Alta Resources Technologies, a U.S. company specializing in advanced biochemical techniques for rare earth element separation.
The partnership aims to recycle and refine waste permanent magnets into high-purity rare earth oxides.
The two companies plan to establish a joint venture in the United States, utilizing existing facilities operated by KoreaZinc’s U.S. subsidiary.
The joint venture targets 2027 for the commercial launch of its rare earth production facility. Initially, it will have an annual capacity to process and produce 100 tons of high-purity rare earth oxides, with plans for gradual expansion.
The focus will be on producing high-purity rare-earth oxides, such as neodymium, praseodymium, dysprosium, and terbium oxides, from waste permanent magnets.
This collaboration aims to mitigate risks associated with China’s export controls, which currently account for over 90% of global rare-earth refining capacity. The partnership seeks to enhance economic security by establishing a stable supply of rare-earth oxides, which are crucial for electric vehicle motors, wind turbines, and defense industries, in both the U.S. and South Korea.
Alta Resources is a pioneer in precision mining. The company has developed a biochemical process platform using custom-designed proteins to selectively separate and refine low-concentration rare earth elements from complex mixtures. Through this partnership with KoreaZinc, they aim to develop a business model for producing rare-earth oxides from secondary resources in the U.S.
Choi Yoon Beom, chairman of KoreaZinc, said the collaboration represents a meaningful milestone in the increasingly strategic rare earth sector. He added that the company aims to serve as a reliable supplier of rare earth materials to advanced technology firms in both the United States and South Korea, reinforcing its role as a trusted partner within the global supply chain.
Nathan Rattledge, co-founder and chief executive of Alta Resources, said the United States has long recognized the importance of securing its rare-earth supply chain and described the partnership as a tangible step toward that objective. He noted that by working together, the companies can produce critical rare earth oxides using domestic resources, strengthening the United States’ position in a strategically important industry.