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2 minute read
INDUSTRY FOCUS: MINING
production by the end of January. Currently selling heavily in Europe, capitalising on the booming EV market, Phoenix Tailings is busy planning for new products. “Processing is where we are the best in the world,” smiles Myers.
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“European auto manufacturers are key clients, but we are also looking to scale up our market in the USA. We know of a few specialist producers that are starting up here, and we are looking to supply them in the near future,” he suggests. “We started off with neodymium metal cells which is a commodity-based product and we are shifting, because of the deposits that we have, into terbium and dysprosium. Terbium in particular will be one of the major metals that we will offtake as it is key as almost 100% of supply comes from China today.”
The challenges in this fast-growth sector surround the supply chain. Here, there has been a need for constant review and micromanagement, with Myers praising the leadership team for developing a robust system from the ground up. To process at scale, valuable inputs are needed, and this requires planning. “Sourcing materials can be a challenge,” he admits. “We are sometimes looking at between six weeks and six months for certain chemicals. In a start up environment, that is an eternity. The company will be totally different in six months. Our supply chain is really helpful in that, and we have been deliberate in the way we source and procure.”
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Building Brand
By partnering with the very best across all disciplines, the company’s reputation is growing. In 2022, Phoenix Tailings received $1.2 million from the US Department of Energy as part of the Advanced Research Projects AgencyEnergy Mining Innovations for Negative Emissions Resource Recovery program. The funding is powering pioneering innovation within the business and Myers hopes more will be encouraged to enter the market.
“Innovation is important in critical minerals production, and moving fast and scaling up in the right way is absolutely essential,” he explains. “Rare earth processing is a big gap in the world today and that is what we are honing in on but we do need others in the market – it can’t just be us. Working with the right players and partners is vital in growth.
“There will be others that come to the market, but the key is to do it sustainably and that is our mission. We want to make sure that by being the first ones to do it, and doing it in a sustainable way, others will come in with sustainability in mind.”
If the company can continue on its strong growth path, and the industry can follow while opening up fresh opportunities for US-businesses, Myers and Phoenix Tailings will be on track to achieve visions. His advice for others is to remain, or learn to be, versatile.
“My whole mission in life has been to build a technology company that can have a deep impact across the world at a fundamental level,” he smiles. “I would certainly recommend that every executive takes some time at some point to work in a startup environment as it allows for a different way of thinking, without the imagined barriers and structures that have been perceived to exist before. With that, we would see a lot of change.”
Perhaps it’s the pioneering nature in the region. Perhaps its in the water. What we know for sure is that with Phoenix Tailings it is what has already been taken from the ground that brings progress. Sustainable engineering and reimagination of existing processes will help to design the companies and industries of the future.
“A reliable, sustainable domestic supply chain of critical materials that power longer-lasting batteries and other next-generation energy technologies is crucial to reaching our clean energy future,” said US Secretary of Energy Jennifer M. Granholm.
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