In an effort to lessen Europe’s reliance on China for minerals essential to everything from renewable energy to automobile manufacturing, a plant to recycle and make rare earth magnets launched in Germany on Tuesday.
By 2030, the European Union wants to guarantee that 25% of the bloc’s demand is met by recycling key resources, including rare earths.
The new plant, run by the German start-up HyProMag and located in the southwest city of Pforzheim, is one of many such initiatives being started in Europe.
The facility, which aims to produce 750 tonnes of magnets a year by 2028, is “an important step towards strengthening Europe’s secure and sustainable supply of critical raw materials,” said the company in a statement.
The plant’s construction was partly funded by the EU as well as the German government.
Rare earth magnets are used in many products, from electric vehicles to wind turbines and consumer electronics.
Current European Union demand totals about 20,000 tons a year.
China, which dominates the rare earths industry, last year dramatically ramped up export curbs on the materials, sending shockwaves through global supply chains.
HyProMag is a sister company to a British firm which opened a similar facility in Britain in January.
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