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Solvay to provide Europe with uncommon earth metals to reduce dependence on China

Belgian chemicals group Solvay goals to provide Europe with rare earth metals for long-term magnets utilized in EVs and wind turbines from its refurbished plant in France, to help the continent decrease reliance on China, the company said.

The group validated routine production at the plant in La . Rochelle ought to start in early 2025 and stated it aimed to satisfy. 30% of Europe's requirements for long-term magnets by 2030.

It is the only facility in Europe able to process light and. heavy unusual earth materials at an industrial level.

Solvay supports a tactical shift for Europe to start. producing irreversible magnets instead of importing them from. China, group CEO Philippe Kehren told Reuters throughout a call,. adding that, in Europe, need was expected to triple by 2035.

The goal is to provide all of Europe with uncommon earth metals. made in La Rochelle, he said.

Solvay verified conversations with Europe's main cars and truck. makers and turbine makers to secure support from the. entire value chain.

The business is likewise in innovative conversations with the French. government for support, Kehren said, without elaborating.

Under a new EU law which came into force in May, the bloc. aims to protect its self sufficiency for important materials that are. presently dominated by products from China. It has actually set targets. to mine 10% of its yearly important minerals requires, to recycle. 25% and process 40% locally by the end of the years.

It has likewise said that no greater than 65% of uncommon earth. products ought to be supplied by one nation. China is presently. approximated to supply around 95% of the EU's unusual earth needs.

Kehren stated Solvay needs to benefit from this drive.

The business said it intended to source 30% of products for its. La Rochelle plant locally, through recycling of end-of-life rare. earth metals from motors in Europe, instead of sending them back. to China.

The venture take advantage of the existing La Rochelle factory,. while a similar ongoing project in the US includes the. construction of a new plant.

(source: Reuters)