Western rare earths supply chain springs into gear By Reuters

Global Supply Chains for Rare Earths:

• Companies worldwide are realigning supply chains to reduce dependence on China for rare earth compounds, metals, and magnets used in various products.
• Initiatives include building production facilities in different countries to diversify the supply chain.

Key Players in Rare Earth Processing:

• Lynas Rare Earths, Solvay, Vacuumschmelze, Less Common Metals, REETEC, Iluka, Posco, Star Group, Neo Performance Materials, Saskatchewan Research Council, Ucore, Rainbow Rare Earths, MP Materials, Energy Fuels, FIEMG are some of the companies involved in rare earth processing.

Expansion and Development Efforts:

• Companies like Solvay, Vacuumschmelze, and Iluka are expanding their rare earth processing capabilities to reduce reliance on Chinese imports.
• Various projects are underway globally to establish new production facilities for rare earth compounds and magnets.

Government Support and Funding:

• Several companies have received government funding to build rare earth processing plants and facilities.
• The U.S. and other countries are investing in domestic production to secure a stable supply of rare earth materials.

Market Impact and Future Plans:

• Companies like MP Materials and Energy Fuels are aiming to produce finished magnets by late 2025 to supply industries like automotive and high tech.
• Efforts are being made globally to strengthen the rare earth supply chain and reduce vulnerabilities associated with heavy dependence on China.