ReElement Technologies Corporation and POSCO International Corporation announced the formation of a $200 million joint venture to develop integrated rare earth element and permanent magnet production in the United States. The agreement was signed on May 21, 2026, in Washington, D.C.

The joint venture aims to establish an end-to-end rare earth supply chain spanning feedstock sourcing, separation, purification, refining, and permanent magnet manufacturing within the U.S. The partnership combines ReElement's chromatographic separation and purification refining platform with POSCO International's global industrial capabilities and market relationships.

Development will occur in phases, with Phase 1 targeting approximately 3,000 metric tons per annum of separated rare earth oxides by 2028, expanding to 6,000 metric tons per annum by 2030. The project will include light and heavy rare earth metalization capabilities and permanent magnet manufacturing capacity. Site selection is currently underway.

"This joint venture represents a defining moment in the evolution of the rare earth supply chain in the United States," said Mark Jensen, CEO of ReElement Technologies. "We are creating a fully integrated, end-to-end solution that addresses one of the most critical gaps in the market."

Kye-In Lee, President and CEO of POSCO International, stated: "POSCO International's global supply chain capabilities and ReElement's innovative refining technology are highly complementary and bring out the best in each other."

ReElement Technologies is a minority holding of American Resources Corporation (NASDAQ: AREC). The joint venture expands on an existing strategic partnership and long-term offtake agreement between ReElement and POSCO International that was announced in September.