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Cyclic Materials secures $75M to expand US rare earth recycling
The financing brings Cyclic Materials’ total equity funding to $237 million and is expected to advance operations at its Arizona magnet separation and recycling plant, targeted for Q3 2026.
Rare earth recycler Cyclic Materials closed a $75 million strategic financing round, lifting its total equity funding to $237 million, Mining.com reported.
The company said the new capital will accelerate deployment of its rare earth recycling campus in South Carolina, with construction planned to begin in Q4 2026, and support expansion of its Hub-and-Spoke infrastructure across the US.
Cyclic Materials plans to build out an integrated domestic critical materials ecosystem, spanning feedstock sourcing, manufacturing scrap recovery, and rare earth production, and it expects its expansion of an Arizona magnet separation and critical mineral recycling plant to start operations in Q3 2026.
The financing comes as the US has designated the recovery of critical materials already in circulation a national defense and supply security priority, including end-of-life rare earth permanent magnets and manufacturing scrap identified as recoverable resources in a July 30 Presidential Determination, the report said.