Little bit more info it is the parties’ intention to triple...

Little bit more info

it is the parties’ intention to triple volumes from Vital Metals,


The Herøya plant will process rare earth carbonates produced by Vital Metals in Canada. Under an agreement between REEtec and Vital Metals, it is the parties’ intention to triple volumes from Vital Metals, thereby providing REEtec with a basis for significant expansion. REEtec has secured offtake for 80% of the NdPr from the first plant, including a 5-year contract with the global automotive supplier Schaeffler Group.

“Our strategic alliance with Vital Metals is an important pillar of our business plan. In addition, Norway, Sweden, and Finland contain significant rare earth deposits which makes the Nordics an attractive region to develop a complete value chain of mineral extraction, separation, and processing to production of metals and magnets,” says John Andersen.
A second plant is planned to be built in Herøya in 2026, based on material from Vital Metals as well as from LKAB’s mining operations which is expected to be available from 2027.

https://mercuria.com/media-room/bus...115-million-first-industrial-rare-earth-plant