General Motors 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 supply magnets for EVs from a new USD 500-million
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
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
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
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
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’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
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 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
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
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
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
On August 27, Nexon Geochem, in a social media post, announced the successful technical validation of Indian-origin raw materials for NdFeB permanent magnets. Nexon Geochem is an advanced materials company building India’s fully integrated rare-earth value chain. The successful testing of the first batch will allow N
On August 18, Aramco and Maaden signed a shareholders’ agreement to form a Joint Venture (JV) to unlock new opportunities in mineral exploration and hard-rock mining in the Kingdom of Saudi Arabia. The JV would focus on copper and other minerals critical to the energy transition.
The JV is expected to be owned 51% by
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