Solvay secures rare earths from Brazil

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Solvay has signed a long-term agreement to secure rare earths from Brazil, the Belgian chemicals group announced Wednesday. The agreement is with Australian mining company Viridis Mining and Minerals. The two parties had already signed a letter of intent in June.

From 2028, Viridis will supply Solvay's plant in La Rochelle, France, with neodymium, praseodymium, dysprosium and terbium—rare earths used to make permanent magnets. These magnets are used in wind turbines, electric cars and electronics, among other things.

Viridis will supply Solvay with at least 70 per cent of the expected output from its large-scale Colossus mining project in Brazil. The Belgian group also has a right of first refusal over the remainder. "The agreement strengthens and diversifies Solvay's access to critical raw materials," the company said.

Solvay and Viridis are also negotiating a separate agreement under which the mining company would gain access to the chemicals group's technology and technical support, enabling it to produce purer intermediate products during processing.

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