Germany opens rare earth magnet recycling plant

BERLIN

Rare earth magnets - Image: Heraeus Remloy

A plant to recycle and produce rare earth magnets opened in Germany on Tuesday, as Europe seeks to reduce its dependence on China for minerals key to industries from car-making to renewable energy.

The European Union is aiming to ensure that recycling of strategic materials, including rare earths, covers 25 percent of the bloc's demand by 2030.

The new plant — in the southwest city of Pforzheim and operated by German start-up HyProMag — is among several such projects being launched 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.