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HomeCVMR NewsAmarillo Closes Nation’s First Rare-Earth Mineral Refinery Deal

Amarillo Closes Nation’s First Rare-Earth Mineral Refinery Deal

Author: CVMR®
Date of publication: 21.06.2022
Reading time: 2 min.
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Amarillo Closes Nation’s First Rare-Earth Mineral Refinery Deal

CVMR, a group of companies specializing in refining rare-earth metals is building one of its facilities in Amarillo. The facility is expected to be approximately 500,000 square feet on 540 acres off US Highway 60. The City of Amarillo and Potter County recently agreed to a number of tax abatements and location incentive agreements before inking the one-of-a-kind deal.

Company founder Kamran Khozan has more, “This is going to be the first critical mineral refinery ever built in the United States. Right now, we don’t have any such refineries in the United States. We are at the mercy of foreign countries to supply us with refined metals.”

The deal struck between CVMR and the local governments, which is the largest project ever brought to the Amarillo area, will provide CVMR with $20 million for the creation of jobs over 10 years and a 100% tax abatement for 10 years. The project is expected to cost $1.5 billion, and is expected to hire 1,000 workers and generate over $100 million a year in payroll.

Read more from original source: https://www.connectcre.com/stories/amarillo-closes-nations-first-rare-earth-mineral-refinery-deal/

Answers to your questions

  • What does CVMR do?

    CVMR refines metals using vapor metallurgy and produces high-purity powders and components for various industries.

  • What metals does CVMR work with?

    CVMR works with over 30 metals, including nickel, cobalt, lithium, rare earth elements, gold, silver, and copper.

  • Who uses CVMR’s products?

    CVMR’s products are used in aerospace, automotive, electronics, medical devices, energy storage, and defense.

  • What is vapor metallurgy?

    It’s a process where metals are vaporized and purified to produce ultra-pure materials with precise control.

  • Is CVMR eco-friendly?

    Yes, CVMR uses sustainable methods like recycling metals, reducing CO₂, and turning methane into graphene.

  • Where is CVMR located?

    CVMR is based in Toronto, Canada, and operates in over 20 countries globally.

  • Who are CVMR’s clients?

    Clients include Pratt & Whitney, U.S. Mint, Virgin Galactic, Barrick Gold, and the U.S. Department of Energy.

  • Does CVMR make battery materials?

    Yes, CVMR supplies lithium, nickel, cobalt, manganese, and vanadium for electric vehicle and storage batteries.

  • What is CVMR’s role in graphene?

    CVMR converts CO₂ and methane into high-quality graphene for electronics, energy, and advanced material use.

  • How do I contact CVMR?

    Visit https://cvmr.ca or email [email protected] for business inquiries and more information.

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