This transaction comes at a crucial time for U.S. critical minerals policy, as China currently dominates the market, controlling an estimated 90% of rare earth separation and processing and approximately 93% of permanent magnet manufacturing globally. In response, the U.S. government has committed billions of dollars to strengthen domestic critical mineral supply chains, including rare earth processing. REEcycle has been awarded $5.1 million in Defense Production Act funding to advance its domestic rare earth processing capabilities.
REEcycle is advancing a technology-led solution to rare earth supply constraints through its proprietary recycling process, which extracts and separates rare earth elements from end-of-life electronics and industrial products. This approach offers a faster, lower-capex, and scalable alternative to traditional mining, enabling near-term domestic supply while reducing exposure to geopolitical disruptions. The global rare earth market was valued at approximately $19 billion in 2025 and is projected to reach around $36.7 billion by 2034, with recycling expected to grow at an accelerated rate as demand for domestically sourced materials increases.
Mick McMullen, Executive Chairman of REEcycle and a respected mining executive, leads the company. He is known for his successful tenure as President and CEO of Detour Gold Corporation, where he significantly increased the company's market capitalization. His investment in REEcycle reflects a strong conviction in recycling-led onshoring. Hall Chadwick Acquisition Corp. raised $207 million in its Nasdaq IPO in November 2025 and is focused on transactions in critical minerals and industrial technology sectors.
