American Rare Earths, Novex sign MoU for rare earth oxides

American Rare Earths, Novex sign MoU for rare earth oxides The collaboration aims to create a US-based mine-to-magnet supply chain. Credit: OMikheeva/Shutterstock.com. · Mining Technology · OMikheeva/Shutterstock.com. Shree Mishra Mon, August 17, 2026 at 9:52 AM EDT 2 min read ARR.AX American Rare Earths (ARR) has entered into a memorandum of understanding (MoU) with Novex, a US-based company, for rare earth oxides (REOs). The agreement establishes a framework for converting REOs produced at the Halleck Creek Project in Wyoming into metals used in permanent magnets. The MoU was signed through ARR's fully owned subsidiary, Wyoming Rare (USA). Under the terms of the MoU, Novex will receive neodymium-praseodymium oxide from ARR's demonstration plant for conversion into rare earth metal. Both companies intend to work together on process optimisation and develop the design for a domestic rare earth metal production facility. The collaboration aims to create a US-based mine-to-magnet supply chain. The conversion of REOs to metal is considered a bottleneck in the magnet manufacturing process, with most supply currently controlled by China. In April 2025, China introduced export licensing requirements for samarium, gadolinium, terbium, dysprosium and yttrium, which are used in high-temperature and defence-grade magnets. From January 2027, US defence contractors will be prohibited from using magnets containing rare earth elements mined, refined or separated in China, increasing the fo…