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Urban Mining, the Texas startup, says its NdFeB manufacturing process involves recycling of older magnets.
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It does not offer financial support for NdFeB magnet manufacturing, which industry analysts and executives say is a short-sighted misstep by the Pentagon.
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Because Hitachi Metals Ltd 5486.T controls the processing patent for NdFeB magnets, the request is likely to be a boon for the Japanese company.