Thursday's essential briefing for institutional capital navigating the rare earth elements transformation. **Recycling Revolution Accelerating:** - HyProMag USA secures $92M EXIM Bank financing for Dallas-Fort Worth integrated recycling facility - Apple and MP Materials' $500M joint investment driving US rare earth magnets recycling - Cyclic Materials opening $25M Canadian facility in Q1 2026, processing 500 metric tons annually **Manufacturing Scale-Up:** - JS Link America investing $223M for rare earth permanent magnet facility in Columbus, Georgia, creating 520+ jobs - Neo Performance Materials' Estonia plant beginning operations in September 2025 - Europe's first domestic NdFeB magnet factory - E-VAC Magnetics' $94.1M award for commercial-scale magnet manufacturing by 2025 **Project Economics Deep Dive:** - Aclara Resources securing $5M DFC development funding for Brazil's Carina heavy rare earths project - ABx Group's Tasmania project achieving 70%+ extraction rates for heavy rare earths - Critical Metals and Ucore's 10-year offtake agreement for 10,000 metric tons annually from Greenland **Market Dynamics:** - Global rare earth recycling market projected from $588M in 2025 to $1.01B by 2033 (7.0% CAGR) - REE market growing from 196.63 kilotons in 2025 to 260.36 kilotons by 2030 (5.80% CAGR) - China's enhanced oversight requiring monthly product flow data uploads to national traceability platform **Strategic Positioning:** The shift from mining-focused to processing-focused investments creates unprecedented opportunities for institutional allocators who understand the sector transformation. Recycling economics, manufacturing scale-up, and government financing converge to reshape rare earth capital allocation. Essential listening for institutional investors, project sponsors, and capital allocators in rare earth elements and critical minerals. Your competitive edge in the world's most critical elements.