Solvay and Viridis sign LoI for rare earth supply

Solvay and Viridis Mining and Minerals person signed a non-binding missive of intent (LoI) for the proviso of mixed uncommon world carbonate (MREC) from Brazil to Solvay’s La Rochelle installation successful France.

The statement aims to unafraid captious feedstocks to amended diversification and resilience wrong the planetary uncommon world materials proviso chain.

The parties are presently targeting a definitive sourcing agreement.

According to the announced terms, Viridis is expected to supply mixed uncommon world feedstocks from its Colossus Rare Earth Project successful Brazil.

These materials would beryllium processed astatine the La Rochelle plant, which is described arsenic 1 of the largest uncommon world separation facilities extracurricular China.

Solvay would lend its uncommon world separation expertise and processing exertion to accelerate the improvement and proviso of feedstock from Brazil.

The feedstocks identified see neodymium, praseodymium, dysprosium and terbium.

These are required for the accumulation of imperishable magnets utilized successful renewable energy, electrical conveyance motors, precocious electronics and defence systems.

The materials besides incorporate further dense uncommon earths specified arsenic samarium, gadolinium and yttrium, which are utilized crossed assorted exertion sectors, including automotive, electronics, aesculapian and aerospace applications.

Solvay’s Special Chem concern president An Nuyttens said: “This projected transaction would people a important milestone successful strengthening and diversifying our upstream proviso chain.

“By partnering with Viridis, we would guarantee different reliable root of earthy materials that would let america to maximise our processing capableness and conscionable the increasing planetary request for high-purity, sustainably processed uncommon world elements.”

The LoI sets retired the commercialized and method principles for the partnership, including arrangements for offtake and a method package.

It is intended to enactment the improvement milestones required for the Colossus task and aims for commercialized accumulation of MREC from Brazil by 2028.

The companies volition enactment unneurotic to advancement these milestones and determination towards a last concern determination successful the 2nd fractional of 2026.

Completion of the projected transaction is taxable to negotiating definitive documents, compliance with applicable requirements and different modular conditions.

There is nary assurance astatine this signifier that the statement volition beryllium finalised oregon that the eventual presumption volition bespeak those acceptable retired successful the LoI.

"Solvay and Viridis motion LoI for uncommon world supply" was primitively created and published by Mining Technology, a GlobalData owned brand.