Correct.
The light and heavy rare earth oxides produced by Reetec will be turned into metals and alloys by UK-based Less Common Metals and then made into magnets by Germany's Vacuumschmelze.
https://www.argusmedia.com/en/news/2067472-europe-moves-closer-to-rare-earth-magnet-supply-chain
VML General Comments - Chat, page-2140
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