JX Advanced Metals Explores Rare Earth Refining With Tronox

JX Advanced Metals Corporation (JX Metals) is examining a potential entry into the rare earth refining business through a partnership with Tronox Holdings plc, with the two companies planning a joint feasibility study through 2027. The partners will invest a combined USD 32 million, approximately JPY 5 billion, on an equal 50-50 basis. The study will examine the separation, leaching, and refining of rare earth concentrates and elements across potential regions including Australia and the U.S., establishing the technical and commercial foundation for a possible new refining operation.

JX Metals and Tronox Plan Rare Earth Refining Study

The feasibility study will assess technical feasibility, economic viability, and potential business structures for rare earth refining. Raw materials will include rare earth minerals sourced by Tronox as well as materials obtained from third parties. The companies intend to use the study to determine whether a commercially viable refining business can be established, with work extending through 2027. The partnership combines JX Metals' planned expansion into rare earth refining with Tronox's existing capabilities across mineral resources, separation, and downstream manufacturing operations.

Potential Production Capacity Reaches 10,000 Tons Annually

Under the companies' initial concept, a future operation could have annual production capacity of up to 10,000 tons measured in rare earth oxide equivalent. That figure represents the envisioned scale of a potential commercial operation rather than confirmed production. The feasibility work will therefore be important in determining whether the proposed capacity can be supported by available raw materials, processing technology, economics, and an appropriate business structure. The companies plan to make a final decision on commercialization by the end of 2027 after evaluating the study's findings.

Tronox Brings Integrated Mineral Operations

Tronox is the world's largest manufacturer of titanium dioxide pigments and operates an integrated business that extends from mineral-resource mining through mineral separation and manufacturing. Its assets include mineral sand mines in South Africa, Australia, and the U.S., giving the company experience across several stages of mineral processing. The planned feasibility study will draw on rare earth minerals supplied by Tronox and third parties, potentially allowing the partners to evaluate different feedstock sources while assessing the technical and economic requirements of rare earth separation, leaching, and refining.

Industry Impact & Outlook

The proposed partnership could give JX Metals a pathway into rare earth refining while leveraging Tronox's established mineral-resource and separation capabilities. Its significance will depend on whether the feasibility study demonstrates commercially viable processing routes and reliable access to suitable concentrates. The focus on Australia and the U.S. also indicates that the partners are evaluating geographically diversified opportunities rather than committing to a single location at this stage. The next major milestone will be the completion of the study and the companies' commercialization decision expected by the end of 2027.

Frequently Asked Questions

What are JX Advanced Metals and Tronox studying?
The companies are conducting a feasibility study for potential rare earth concentrate and element separation, leaching, and refining operations. The study is funded equally by both companies, with a combined investment of USD 32 million, or approximately JPY 5 billion. It will continue through 2027 and examine potential regions including Australia and the U.S. The work will evaluate technical feasibility, economic viability, and possible business structures while using rare earth minerals supplied by Tronox and third parties. A final commercialization decision is expected by the end of 2027.