- In September 2022, Solvay announced an expansion of its rare earth metal operations in La Rochelle, France. The company aims to establish a significant hub for rare earth magnets to serve growing demand in electric vehicles, clean energy, and electronics. This development supports Europe’s focus on sustainable technologies and strengthens the regional supply chain for critical materials
- In August 2022, Lynas Rare Earths Ltd revealed plans to expand capacity at its Mt Weld mine in Western Australia, known for deposits of neodymium and praseodymium. The expansion is set to begin in early 2023 and be fully operational by 2024. This move enhances the company’s ability to meet increasing global demand and secures a stable supply of key rare earth metals
- In April 2022, Iluka Resources Ltd announced a USD 1.2 billion investment in the Eneabba Phase 3 rare earth refinery project in Western Australia. The initiative aims to boost the company’s downstream processing of rare earth oxides, strengthening its position in the global market. The investment also contributes to Australia’s economic development and promotes sustainable resource management
