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  • Partnership to Enhance Manufacturing of Permanent Magnets in Europe

Brussels, Belgium — In a strategic move to bolster Europe’s rare earth industry, Solvay and Carester have signed a Memorandum of Understanding (MOU), marking a significant collaboration in manufacturing within the rare earth sector, specifically targeting the permanent magnets value chain.

This partnership capitalizes on the combined strengths of both companies, with Solvay bringing in its substantial industrial prowess and operational history, and Carester contributing its specialized recycling knowledge and market insights, especially in handling end-of-life equipment.

Europe’s Electrification and Renewable Energy Drive

The urgent transition of Europe’s automotive sector towards electrification, the expanding domain of wind power energy, and the rapid pace of digitalization are key factors driving the need for rare earth permanent magnets. This necessity is highlighted against the backdrop of China’s prevailing dominance in rare earth refining. In a decisive response, Solvay initiated steps towards the end of 2022 to establish a rare earths hub at La Rochelle, France. This endeavor aims to enhance European self-sufficiency in this critical area.

La Rochelle: A Future Hub for Rare Earths

Solvay’s plan to create a rare earths hub in La Rochelle represents a significant commitment to meeting the escalating demands of burgeoning markets such as electric vehicles, wind power, and electronics. With its extensive experience spanning decades in rare earths processing and a solid foothold in areas like catalysis, electronics, and specialty sectors, Solvay’s move is a strategic step towards reshaping the European rare earth landscape.

A Synergistic Alliance for a Sustainable Future

The Solvay-Carester partnership embodies a strategic and sustainable approach, leveraging each other’s capabilities to navigate the complexities of the rare earth industry. This alliance is expected to catalyze innovations and solutions that will support Europe’s journey towards a more autonomous and robust rare earth supply chain, crucial for its clean energy and digitalization goals.

In conclusion, the Solvay-Carester MOU signals a promising development in Europe’s quest for independence and innovation in the rare earth industry, aligning with the broader goals of sustainability and technological advancement.

Solvay and Carester signed an MOU to create a strategic partnership for rare earth permanent magnets in Europe, aiming to enhance manufacturing capabilities. Solvay focuses on establishing a rare earths hub in La Rochelle, France, while Carester specializes in recycling and heavy rare earth extraction. The collaboration aims to support Europe’s transition to green energy and strengthen the rare earth industry outside of China.

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By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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