The Canadian refining company aims to supply critical rare earth elements for magnet production in the United States and Europe.
Government invests in Vulcan Elements and ReElement Technologies to boost independence in rare earth components.
The company extracts the critical mineral as a byproduct from its titanium dioxide production.
Operations are expected to begin in 2027 with an annual capacity of up to 2,000 tons.
According to media reports, India is planning a significant increase to its subsidy program for rare-earth magnets, initially announced only in July.
Joint declaration signed at the sidelines of the G7 Energy and Environment Ministers’ Meeting in Toronto.