Solvay signs two supply deals for rare earth elements with US partners
The Belgian chemicals group Solvay announced late on Wednesday that it had signed two agreements to supply rare earth materials to American companies. These deals strengthen Solvay’s position in the global race to secure critical raw materials for clean technologies and advanced manufacturing, which is growing in importance.
The first agreement was made with Permag, a US-based company, and Less Common Metals (LCM) in the UK. Under the terms of the agreement, Solvay will supply Permag with concentrated rare earth mixtures produced at its La Rochelle plant in France, as well as proprietary technology for producing pure samarium, which is a vital component in high-performance permanent magnets. LCM will contribute its metallurgical expertise to the partnership.
A second agreement has been reached with Noveon Magnetics, a US-based producer of rare earth magnets. This contract covers neodymium, praseodymium, dysprosium and terbium, which Solvay will partly recover from end-of-life materials. Deliveries are set to begin in 2026, when Noveon will use the materials to manufacture permanent magnets.
According to Solvay, both partnerships demonstrate its commitment to establishing sustainable and secure supply chains for rare earths in Europe and beyond. The aim is to ensure the availability of critical materials for permanent magnets, which are vital components in electric vehicle motors, renewable energy systems (such as wind turbines), advanced electronics, and defence applications.
Solvay operates in the chemicals and materials sector and employs over 9,000 people at 44 production sites in 41 countries. In 2024, the company reported net sales of 4.7 billion euros.
© BELGA PHOTO NICOLAS MAETERLINCK
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