![]() |
Phoenix Tailings |
Phoenix Tailings rare earth plant to meet US defense demand
US-based startup Phoenix Tailings has raised $76 million in Series B funding to build a rare earth metals plant in New Hampshire. The Exeter facility will be the first standalone US rare earth refinery capable of producing finished metals directly from diverse feedstocks. Once fully operational, the site will have a 500t/yr production capacity—matching the entire annual demand of the US defense sector.
Exeter facility to refine key rare earth elements for magnet manufacturers
Initial output from the Phoenix Tailings rare earth plant will start this summer at 200t/yr, ramping up to 500t/yr in time. The facility will produce neodymium-praseodymium, ferro-dysprosium, dysprosium, and terbium—all essential for permanent magnets used in defense, electric vehicles, and medical devices. It will process feedstocks from mines, coal ash, recycling streams, and other industrial byproducts, offering flexible sourcing.
Global investors back strategic US supply chain expansion
The oversubscribed $76 million Series B round was led by Envisioning Partners of Korea and included Escape Velocity, Builders Vision, Yamaha Motor Ventures, M Power, and Sumitomo’s Presidio Ventures. This strong international investor support highlights the growing urgency to establish domestic rare earth supply chains. Phoenix Tailings already runs a 40t/yr commercial facility and sources concentrates from allied nations.
The Metalnomist Commentary
The Phoenix Tailings rare earth plant represents a major step in reshoring critical mineral processing to the US. Its feedstock flexibility and defense-aligned production profile could reduce dependence on China’s REE dominance. This deal also shows that global capital is actively fueling secure and resilient rare earth value chains.
No comments
Post a Comment