U.S. President Donald Trump aims to accelerate domestic resource production through immediate measures, but progress is likewise being made in other Western countries in building new production capacities for critical resources and components. However, a potential raw material cooperation between Russia and the U.S. has also made headlines.
Critical Minerals: Trump Pushes for Domestic Production
U.S. President Donald Trump aims to boost domestic production of critical resources through immediate measures. Ensuring national security requires urgent action to maximize domestic mineral production, according to an executive order issued Thursday. The order allows Hashtag#mining and Hashtag#processing projects for critical resources to receive immediate approval or expedited review.
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Neo Performance Materials Shows Strong Development – Magnet Factory in Estonia on Schedule
Neo Performance Materials remains on track with the construction of its permanent magnet factory in Estonia and reports strong business growth for 2024 overall. However, the Canadian company recorded a year-on-year decline in revenue.
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Rare Earths: Multi-Million Investment in Recycling and Refining Facility in France
Southern France could become a key centre for the rare earth industry by the end of 2026. The French company Caremag plans to build a plant for the recycling and refining of rare earths in the Pyrénées-Atlantiques department. The project is backed by the French government, the Japanese Organization for Metal and Energy Security (JOGMEC), and the Osaka-based Iwatani Corporation.
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Energy Fuels and Posco Aim to Take a Piece of China’s Rare Earth Monopoly
Energy Fuels, a U.S. uranium and rare earths producer, and the South Korean company Posco aim to make the supply chains for rare earth magnets less dependent on China. Energy Fuels plans to supply U.S.-produced rare earth oxides to Posco to support electric motor component manufacturing for automakers in the U.S., EU, Japan, and South Korea.
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Rare Earths: Russia Offers Cooperation to the U.S.
According to Reuters, Russia’s sovereign wealth fund may collaborate with U.S. companies in developing domestic rare earth deposits. The announcement by CEO Kirill Dmitriev came almost simultaneously with the phone call between Trump and Putin regarding a potential end to the war in Ukraine. In this context, Trump had already proposed a resource agreement with the war-torn country.
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