Governor Hochul Announces Phoenix Tailings to Establish $375 Million Commercial Scale Rare Earth Separation Facility in Monroe County

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Official release

Source material from New York Empire State Development. The wording below is the issuer’s statement.

Cutting-Edge Company Will Occupy 500,000-Square-Foot Location in Eastman Business Park; Commits to Creating At Least 90 New Jobs

New York State’s $3 Million Investment Helps Rebuild America’s Rare Earth Industrial Base, Promotes Cleaner Production Methods and Boosts National Security

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Governor Kathy Hochul today announced that Phoenix Tailings, a Massachusetts-based company, has chosen Eastman Business Park in Monroe County for a new $375 million commercial scale, environmentally friendly, rare earth mineral separation facility. The 500,000-square-foot site will process rare earth materials used in products such as electric vehicles, electronics and defense equipment. Most rare earth separation currently takes place in China.

“I am fully committed to supporting innovative projects and companies that are ready to invest in New York and bring in good-paying jobs,” Governor Hochul said. “Phoenix Tailings will not only create at least 90 new jobs at Eastman Business Park further supporting our state’s innovation economy, but they will also play a critical role in bolstering our national security by building a clean supply chain for rare earth elements in New York, reducing reliance on foreign sources of critical minerals.”

Phoenix Tailings has developed cutting edge, environmentally friendly processes to recover rare earth metals from mining waste and other industrial sources. The company separates and processes these materials into metals used to make powerful magnets enabling technology to become faster, smaller, stronger and more energy efficient. These metals are also critical components in high-tech defense equipment, medical and healthcare products, advanced manufacturing, smartphones, laptops, electric vehicles and communications systems.

Rare earth minerals are in high demand because of their use in many everyday products and advanced technologies. China currently processes about 90 percent of the world’s rare earth minerals. Phoenix Tailings is proving that mining waste across the country can provide a crucial domestic source of these highly valued materials, reducing the United States’ dependence on foreign supply chains and environmentally unfriendly foreign production.

When fully operational, the Rochester facility is expected to separate about 18,000 tons of rare earth material each year, enough to produce about 3,000 tons of rare earth metals at the company’s downstream metallization facilities.

Read the full press release here.

Release text attributed to New York Empire State Development. Consult the official publication for any subsequent corrections or updates.