Page 164 - CW E-Magazine (19-3-2024)

News from Abroad

PARTNERSHIP
Solvay and Carester of France join hands for making

rare earth permanent magnets

Belgian chemicals firm, Solvay, and
Carester – a France-based reference
partner for companies in the rare earth
industry – have announced the signing
of a Memorandum of Understanding
(MoU) to form a partnership to pursue
manufacturing opportunities within
the rare earth industry for the perma-
nent magnets value chain in Europe.
The collaboration will enable both
companies to enhance their respective
strengths in the rare earths industry,
with Solvay contributing its industrial
assets and operational experience, and
Carester bringing expertise in recycling tions in catalysis, electronics and specia- borate with Solvay and its unique
end-of-life equipment, upstream mar- lties, Solvay’s plans in La Rochelle recognised asset based in La Rochelle
ket knowledge, and related activities. align with its commitment to meet the to complement our Lacq future unit.
growing demands of the fast-growing We will then contribute even more to
Europe’s transition to electrification electric vehicle, wind power, and elec- European strategic independence in
in the automotive industry, expansion tronics markets. critical minerals while paving the road
of wind power energy, and acceleration for a full circular economy thanks to
of digitalisation necessitate the use of Similarly, Carester, while supporting recycling” said Mr. Frédéric Caren-
rare earth permanent magnets. With efforts of rare earth mining companies to cotte, CEO of Carester.
China’s dominance in rare earth refin- develop their refining processes, has built
ing, Solvay has taken proactive meas- the Caremag industrial project. Fully per- Mr. Philippe Kehren, CEO of Solvay,
ures since the end of 2022 to establish mitted in Lacq, France, this initiative is added, “By collaborating with esta-
a rare earths hub for a permanent mag- dedicated to magnet recycling and the blished rare earths players outside
nets value chain in La Rochelle, France, extraction of heavy rare earths from of China, we are laying the ground-
aiming to enhance European self-suffi- mining concentrates, using a unique work for a powerful rare earths hub in
ciency. With its existing strong asset clean and energy-efficient process. Europe and establishing a strong Euro-
base and decades of expertise in rare pean manufacturing base to supply the
earths processing with significant posi- “It’s a great opportunity to colla- critically important magnets industry”.

164 Chemical Weekly March 19, 2024

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