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Rare earth
LS Cable & System to build rare-earth permanent magnet plant in Gumi, South Korea
South Korea’s LS Cable & System announced on October 30 that its subsidiary Korea Motion Works signed a memorandum of understanding (MoU) with Gyeongsangbuk-do Province and Gumi City on October 29 to build a rare-earth permanent magnet plant with an investment of approximately KRW 350 billion.
Construction is schedul
KMMI to invest KRW 300 billion to expand magnet production in Pohang, South Korea
South Korea’s KMMI signed a memorandum of understanding (MOU) on investment with Gyeongsangbuk-do Province and Pohang City. It will invest a total of KRW 300 billion to expand production facilities for rare-earth and non-rare-earth magnets in Pohang. The investment is planned for 2026 through 2030, with an annual pro
Korea Institute of Materials Science develops technology to produce neodymium-iron-boron permanent magnets without heavy rare earths
The Korea Institute of Materials Science (KIMS) has developed a technology for producing high-performance neodymium-iron-boron (Nd-Fe-B) permanent magnets without using heavy rare earths. Heavy rare earths such as dysprosium (Dy) and terbium (Tb) have been added to magnets used in electric vehicle (EV) drive motors t
GM cancels deal with rare-earth magnet maker VAC as EVs sales decline
On October 23, Detroit News and other sources reported that GM has cancelled its long-term supply agreement with German rare-earth magnet maker Vacuumschmelze (VAC), triggering arbitration, according to SEC regulatory filings from this week and a source familiar with the matter.
VAC signed a deal with GM in 2023 to s
MH Materials to collaborate with Korea Institute of Materials Science on next-generation permanent magnet materials
South Korea’s MH Materials has signed a memorandum of understanding (MoU) with the Korea Institute of Materials Science (KIMS) to develop next-generation, high-performance permanent magnet materials. The two organizations will combine KIMS’s neodymium (Nd)-based permanent magnet materials and hot-deformation processi
EU selects 46 new strategic projects for critical raw materials
On October 9, the European Commission selected 46 new strategic projects across 16 Member States. The projects will contribute to the benchmarks set in the Critical Raw Materials Act (CRMA) that, by 2030, EU capacity meets at least 10% of the EU's annual consumption for extraction, 40% for processing, and 25% for rec
EU and China announce interim trade deal, recall price undertaking of BEV anti-subsidy
On October 9, the European Commission announced that it had productive discussions with China during the second meeting of the EU-China Trade and Investment Consultations (TIC) in Beijing. The two sides reaffirmed their commitment to properly handling differences under the framework of WTO rules and committed to cont
Proterial and FEV jointly validate xEV traction motor design using heavy rare earth-free magnets and amorphous alloy
On October 5, Proterial and FEV announced that they had jointly validated a design concept for an electrified vehicle (xEV) traction motor using an amorphous alloy and high-performance heavy rare earth-free neodymium sintered magnets. Simulations indicated the potential to improve efficiency, increase maximum output
LS Cable & System to build rare-earth permanent magnet plant in South Korea
South Korea’s LS Cable & System will establish a rare-earth permanent magnet production facility in the country. In September 2026, the company established Korea Motion Works to manufacture and sell rare-earth permanent magnets. LS Cable & System will invest KRW 150 billion in the subsidiary to build a plant producin
South Korea to strengthen critical mineral supply chain cooperation with five Central Asian countries
South Korea’s Ministry of Trade, Industry and Resources announced that it will strengthen supply chain cooperation in critical minerals and other areas with five Central Asian countries—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan—following the first Korea-Central Asia Summit held in Seoul from Se
South Korean government announces plans for designation and stockpiling of critical minerals
The South Korean Ministry of Trade, Industry and Resources announced on September 23 that it has finalized the First Basic Plan for Resource Security, the Critical Mineral Designation Plan, and the First Critical Mineral Stockpiling Plan.
Under the First Basic Plan for Resource Security, the government will provide f
South Korea’s Ministry of Climate, Energy and Environment to establish recycling system for rare-earth permanent magnets
South Korea’s Ministry of Climate, Energy and Environment has agreed with the Korea Environment Corporation, Hyundai Motor Company, and the Korea Automobile Dismantling and Recycling Association to conduct a pilot project aimed at establishing a domestic recycling system for rare-earth permanent magnets contained in
Niron Magnetics marks structural steel raising at new plant in Sartell, Minnesota
On September 10, Niron Magnetics, the company commercializing the world's only high-performance rare-earth-free permanent magnets, celebrated the structural steel raising at its new manufacturing facility in Sartell, Minnesota, representing the first commercial-scale step of Niron's staged manufacturing platform.
The
Honda invests in U.S. rare-earth-free company Niron Magnetics
On September 9, U.S.-based Niron Magnetics, commercializing the world's first rare-earth-free Iron Nitride permanent magnets, announced an investment from Honda Motor Co., Ltd., through its global open innovation program, Honda Xcelerator Ventures.
The investment builds on expectations for innovative, next-generation
Solvay, Belgium, discusses partnership for rare earths business with One Investment Management
On September 8, Solvay announced that it is currently engaged in discussions regarding a potential strategic partnership with One Investment Management (OneIM) for its rare earths business. There can be no certainty at this stage that these discussions will result in any agreement or transaction. OneIM is a global al
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