Urban Mining Gets $25M For Rare Earth Magnets

Austin-based Urban Mining Company, which takes and recycles rare earth magnets and reprocesses them into new, high performance magnets, said Tuesday that it has raised $25M in a Series A financing. Source of the funding was not announced. Urban Mining said the funds will go towards construction and operation of a magnet recycling and manufacturing facility in Austin. Urban Mining is led by Scott Dunn. More information »