March 21, 2025
Caremag, a subsidiary of Frenchrare earthstechnical consultancy Carester, announced on Monday March 17 that it has secured €216 million ($235 million) to build a large-scale rare earth recycling and refining facility in Lacq, in southern France.
“This project aligns with theEuropean Critical Raw Materials Actand represents a major step toward Europe’s independence in rare earths for permanent magnets,” Carester president Frédéric Carencotte said.
The plant, which is expected to be operational by late 2026, will recycle 2,000 tonnes of rare earth magnets and refine 5,000 tonnes of mining concentrates annually.
The plant is expected to produce 600 tonnes per year of heavy rare earth dysprosium and terbium oxides, which according to the company is around 15% of global production. China is currently the only commercial producer of heavy rare earth oxides, although there are projects underway in the US and Asia.
https://www.fastmarkets.com/insights/caremag-raises-216-million-to-build-rare-earths-plant-in-france/
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