Highlights
- Novare Holdings invests $150 million in ReElement Technologies' Marion Supersite, a state-of-the-art rare earth and critical mineral refinery in Indiana.
- ReElement's patented chromatographic separation process aims to produce ultra-pure rare earth oxides with environmental sustainability.
- The investment signals a strategic shift in African finance, targeting upstream-to-downstream mineral integration and challenging traditional extract-and-export models.
In a rare earth development that bridges continents, South Africa’s Novare Holdings (opens in a new tab) has anchored a R2.8 billion ($150 million) equity and debt investment into American Resources Corporation’s (opens in a new tab) rare earth refining subsidiary, ReElement Technologies (opens in a new tab). The capital will fuel the expansion of ReElement’s 42-acre “Marion Supersite” in Indiana, U.S.—a former RCA plant now repurposed into a state-of-the-art rare earth and critical mineral refinery.
At the center of ReElement’s offering is a patented chromatographic separation process, co-developed with Purdue University, designed to produce ultra-pure light and heavy rare earth oxides in a modular, environmentally friendly format. The Marion site will serve U.S. defense, EV, and clean energy markets amid mounting pressure to reduce dependence on Chinese rare earth supply.
But the significance extends beyond American shores. Novare’s investment represents a strategic shift in African finance—one that targets integration from upstream to downstream. The firm has previously announced joint plans with ReElement to co-develop Africa’s first multi-mineral refining facility, signaling intent to disrupt the long-standing extract-and-export model that has defined Africa’s role in global mineral markets.
Note that the investor, Novare, got its start as an investment advisory business advising South African Pension Funds in 2003.
Key Questions for Retail Investors
- Where is the African Refinery? Despite promises, there’s no location, timeline, or permitting status disclosed for the planned African facility. Investors should watch for concrete project milestones.
- Technology Scale-Up Risk? Chromatographic separation is promising but has not yet been proven at full commercial scale for all REEs. Will it deliver consistently across input grades and mineral sources?
- Who Else is Backing This? Beyond Novare’s anchor investment, additional funding sources and strategic partners remain unnamed. Will ReElement secure the capital and offtake agreements needed for long-term viability?
ReElement’s model is bold, its timing is critical, and Novare’s bet on U.S. innovation could pay off—if the tech scales and African beneficiation plans materialize.
RARE EARTH EXCHANGES™ BIAS METER
| Claim Clarity | Financial Transparency | Strategic Detail | Risk Disclosure | Investor Usefulness |
|---|---|---|---|---|
| High | Medium | Medium | Low | Medium |
Source: Ventureburn | “Novare Holdings Anchors R2.8 Billion Investment” , Staff Reporter, June 17, 2025
Engaging interview June 24, 2025, with ReElement partner @ Novare Equity Partners, Derrick Roper, on South Africa’s “Classic Business” radio. Their collective vision is to:
– Bring value to the African continent through technology and capabilities to unlock value for the people and create jobs locally.
– Create long term supply partnerships to ensure the United States has a long term and steady supply of separated high purity rare earth, critical and defense minerals for its commercial and defense customers.
– See private enterprises create long term economic diplomacy and reshape how this industry and world works, and no longer rely on one part of the world for the refining step in the rare earth and critical mineral sector.