Belgian chemicals group Solvay announced on Friday that it had signed a memorandum of understanding with France's Carester, which specializes in the exploitation of rare earths, with a view to creating a strategic partnership.

In a press release, the two companies state their intention to combine their expertise in order to seize opportunities that may arise in Europe in the value chain for rare-earth-based permanent magnets.

These components are used, for example, in the electrification of the automotive industry, wind energy equipment and electronic materials.

Faced with China's dominance in this field, Solvay set up an industrial cluster dedicated to rare earths for permanent magnets in La Rochelle in 2022, with the stated aim of reinforcing European self-sufficiency.

At the same time, Carester has developed an industrial project, Caremag, in the Lacq basin near Pau, designed to recycle magnets and extract heavy rare earths from mining concentrates using an environmentally-friendly process.

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