Investment, diversification, and international cooperation have shaped this week’s critical minerals landscape. New initiatives in Brazil, France, Canada, and South Korea demonstrate how governments and industry are working to secure long-term supply chains for rare earths and critical minerals.
Solvay Secures Access to Rare Earths from Brazil
Solvay plays a key role in Europe’s rare earth value chains. In France, the chemical company operates one of the few processing facilities for these critical raw materials outside China. Part of the feedstock is expected to come from Brazil in the future, following the signing of a letter of intent with Viridis Mining and Minerals, which is developing the Colossus deposit there, a potentially important source of heavy rare earth elements.
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More Demand, Faster Execution: The EU Unveils Its Chip Industry Reset
The European Commission on Wednesday unveiled an update to its 2023 Chips Act. While the overarching objective remains the same, strengthening Europe’s position in the global semiconductor market, the revised framework takes a broader approach. Rather than focusing primarily on expanding manufacturing capacity, the EU now aims to support the entire semiconductor value chain. At the same time, policymakers are placing greater emphasis on the demand side, seeking to boost the adoption and commercialization of European-made chips.
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USA Rare Earth Signals Major Investment in France
USA Rare Earth plans to further expand its activities in Europe. The U.S.-based company has announced additional investments of more than €175 million by 2030. The investment will fund new capacity for rare earth metals, alloys, and magnets. At the same time, more than 300 new jobs could be created in the region, the company said during the Choose France Summit.
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Canada and South Korea Deepen Cooperation on Critical Minerals, Energy
Canada and South Korea will work more closely together on critical minerals, agreeing among other things to develop a joint stockpiling plan by the end of 2026, the most concrete outcome of a meeting between Minister of Energy Tim Hodgson and Kang Hoon-Sik, South Korea’s Special Envoy for Strategic Economic Cooperation, in Ottawa on Tuesday. Both governments described the move as a shift toward a “fully integrated energy supply chain partnership.”
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