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Story summary
- Canada Growth Fund (CGF) will invest US$25 million in Kingston-based Cyclic Materials Inc., a rare-earths recycler.
- The investment strengthens Canada's critical minerals supply chain and reduces reliance on China.
- Cyclic Materials Inc. aims to recycle rare-earth magnets from used EV motors at facilities in Arizona and Kingston.
- CGF has 16 investments totaling US$4.9 billion, including US$65 million in Mangrove Lithium.
- The success of many projects will take years to assess.
