RE:RE:RE:Innord Inc. (private subsidiary of Geomega)There are numerous companies developing NdFeB recycling capabitity, incl Lynas Malaysia, but for the forseeable future the economics need to be supported by a steady supply of swarf which doesn't travel well so proximity to mag makers essential for any meaningful commercial operation. Read some of the laughable EU sponsired studies based on scrap recycling.
However the Chinese have made the importance of recycling abundantly clear:
"The supply structure of PrNd oxide is different from that of other oxides. The supplies from domestic rare earth ores also come first with a proportion of 45%, followed by recycling (30%) and imported rare earth ores (19%)."
https://news.metal.com/newscontent/101781772/supply-of-prnd-oxide-will-increase-by-more-than-10-in-2022/
Chinese stated at Metal Events a few years back they anticipated fully 40% of NdPr oxide would be sourced from NdFeB swarf & scrap mid decade so if ROW is ever to develop a sustainable NdFeB supply chain recycling is going to need to be part of the mix.
MDL obviously see potential to get involved here, and note the comment:
"the Research Partner is the exclusive owner of technology and knowhow that combines a novel pyrometallurgical process with a hydrometallurgical process to efficiently preprocess, extract, recover and separate rare earth elements from end-of-life recycled REE permanent magnets"
"combines a novel pyrometallurgical process" suggests it's nascent tech exclusive to the target, at least in the RE space.