Tronox Announces Signing of a Cooperation and Investment Agreement with JX Advanced Metals to Advance Rare Earth Strategy

John D. Romano, Chief Executive Officer of Tronox

“This strategic agreement represents an important milestone in Tronox's efforts to leverage our unique mineral sands resources and hydrometallurgical and chemical processing expertise to participate in the rapidly growing critical minerals value chain. By combining Tronox's mining resources and reserves and project development capabilities with JXAM's advanced refining and materials expertise, we are creating a pathway toward a secure, reliable, and globally competitive source of high-purity rare earth oxides and other critical minerals.”

Hayashi Yoichi, President and Chief Executive Officer of JX Advanced Metals

“Rare earths are essential to the advanced materials at the core of our growth strategy, and diversifying and strengthening their supply chain is an important strategic priority for JX Advanced Metals. Through this joint study, we will bring together Tronox's mineral resources and mineral separation capabilities with our technologies and expertise in nonferrous metals smelting and recycling to evaluate the potential of a rare earth processing business in Australia, the United States, and other locations. Working in close partnership and leveraging our complementary strengths, we aim to strengthen the supply chain supporting our advanced materials businesses and create new business opportunities that contribute to the sustainable growth of both companies.”

John D. Romano, Chief Executive Officer of Tronox

“The strategic importance of a diversified and secure rare earth supply chain has never been greater. As the proposed projects would contribute to strengthening supply chains in the United States, Japan and Australia, we also hope to receive support from the relevant authorities and other stakeholders in each country.”