US Rare Earths Refiner Phoenix Tailings Eyes IPO Within 3 Years

US metals refiner Phoenix Tailings plans to pursue an initial public offering within three years after building out plants to produce rare earth elements to go into automobiles, medical devices and military equipment.

“That’s our big target,” Chief Executive Officer Nick Myers said in a Monday interview. “It’s an aggressive goal, but I like to wake up and do aggressive things on a daily basis.”

The six-year-old firm is focused on extracting rare earths — a group of 17 elements used in magnets, batteries and personal electronics — from mining waste. Phoenix Tailings has a Massachusetts facility that can produce ...