US Rare Earths Enters Agreements for Rare Earth Recycling Tech and Extraction Process

US Rare Earths (OTCQB:UREE) has entered a patent license agreement with Oak Ridge National Laboratory for its membrane assisted solvent extraction for rare earths (MSX) technology for the separation of rare earths from electronic E-waste. The company has also signed a commercial patent license agreement to use MSX technology to separate rare earths at its mining operations in the US.
As quoted in the press release:

Both the exclusive and non-exclusive commercial patent license agreement were signed between UT-Battelle, LLC, (a limited liability partnership between the University of Tennessee and Battelle Memorial Institute), (“Licensor”) and U.S. Rare Earths, Inc. (Licensee).
The Licensor, manages and operates the Oak Ridge National Laboratory under contract with the United States Department of Energy (DoE).
The Licensor created the MSX Technology specifically for the recovery of Neodymium, Dysprosium and Praseodymium on a mandate from the U.S. government to seek alternative sources of these critical materials, that are currently produced and processed almost exclusively by the Chinese.  These rare earth elements are required for the manufacturing of automobile electronic motors, wind turbines, computer hard drives, electronic displays, and fluorescent bulbs.  They are often referred to as “technology metals.”

Rare Earths CEO, Kevin Cassidy, said:

We initially entered in discussions with the Oak Ridge National Laboratory after receiving approval from the U.S. Forest Service to reopen the northern adit and access a stockpile of material located on USRE-held mining claims.
Our Last Chance Mine stockpile contains several tons of highly concentrated rare earths material and offers a short term domestic supply of rare earths so we were motivated to secure a cost effective way to provide a competitive source of technology metals. Based on conversations around our mutual commitment to U.S. sustainability, we agreed that the recycling of electronic E-waste will provide a competitive source of Neodymium, Dysprosium and Praseodymium for growing the cleantech sector including electric vehicles.

Click here for the full press release.