Phoenix Tailings, which aims to be the world’s first zero-emissions, zero-waste mining and metal production company, is planning to begin operations in Exeter this fall.
The company originally planned to open its New Hampshire facility this month, but those plans were delayed as global supply chains for rare earth metals shifted, said CEO Nick Myers.
Phoenix Tailings is planning to produce rare earth metals, which are used in clean energy technology, the defense industry, the automobile industry, and in electronics.
The elements aren’t as rare as their name implies, but processing them can be difficult and is somewhat infamous for its environmental and health impacts. China is the main producer of those metals.
Myers says Phoenix Tailings is planning to focus more on producing heavy rare earth metals to make up for China’s suspension of almost all exports of those this spring.
“The heavy rare earths are much harder to access, and virtually 100% are produced in China, which is where the challenge for the whole global market comes from,” he said.
The company will make less light rare earth elements than they initially planned, he said. But they will also increase the total output of their Exeter facility.
Myers says they’re hoping to support U.S. supply chains, including for cars, medical devices, and the military.
“We're looking to do that in a clean way that doesn't have challenges or safety issues for workers and stuff like that to try to do it really right here in the U.S.,” he said.
Myers said his company is closely monitoring what the Trump administration is focused on to inform their final products. But he declined to comment on whether Phoenix Tailings had any federal backing for their New Hampshire operation.
The company has gathered investors including Yamaha and BMW.
Phoenix Tailings is expecting to have final operating permits in September or October. Myers says he expects to hire about 30 people to work in the Exeter facility.
Records from the New Hampshire Department of Environmental Services show Phoenix Tailings has applied for an air permit and notified regulators that they will generate and recycle hazardous waste, including used waste oil and spilled corrosive residues and absorbent materials.
“We do not emit anything from the facility, but we do want to make sure that everything stays safe and within compliance,” Myers said.
