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NOVEON MAGNETICS, KANGWON ENERGY, AND LG ELECTRONICS LAUNCH CLOSED-LOOP RARE EARTH MAGNET RECYCLING INITIATIVE

Noveon Magnetics, Kangwon Energy Co., Ltd., and LG Electronics announced a strategic agreement to advance closed-loop rare earth magnet recycling using Noveon's M2M technology.
LG Electronics said they aim to strengthen supply-chain resilience and support a circular economy for rare earth elements through their recycling initiatives, citing China's control over over 90% of global magnet production.
Validation testing will involve Noveon’s M2M and EcoFlux technologies processing end-of-life magnets from LG Electronics into recycled high-performance magnets, tested in LG Electronics applications.
The companies said the program will expand with additional production capacity at a new facility in South Korea via the Noveon–Kangwon joint venture, and Scott Dunn, CEO of Noveon Magnetics, called it `a major step toward building a more secure and sustainable rare earth supply chain`.
Looking to broader impact, Kangwon's manufacturing expansion and Noveon's products could supply critical sectors such as electric vehicles, wind turbines, robotics, data storage, and defense systems, the companies said.

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