European rare earths refiner Solvay has struck a deal with an Australian company that will allow it to increase supplies for crucial magnet production outside China, calling it an “important step” in diversifying global supply chains.
The Belgian chemicals group said on Wednesday it had signed a long-term agreement with Viridis Mining and Minerals which will supply its rare earths operations in La Rochelle, France, from an upcoming Brazilian mine. Shipments to Solvay are expected to start in 2028.