Under the terms of the LOI, Viridis is expected to supply critical rare earth feedstocks from Brazil to Solvay’s La Rochelle plant in France. Solvay will provide a recognised rare earth separation expertise and processing technology to accelerate feedstock supply from Brazil. This collaboration would leverage Solvay’s advanced processing, separation and formulation capabilities to refine rare earth raw materials into the individual high-purity oxide elements essential for electric vehicle motors, renewable energy, advanced electronics and defense systems.
Solvay has signed an LOI with Viridis Mining and Minerals to secure rare earth feedstocks from Brazil for processing at its La Rochelle plant in France by 2028.
The partnership aims to strengthen diversified supply chains for magnet-grade rare earths used in EVs, renewable energy, electronics and defence, while supporting Europe’s growing demand for critical materials.
The feedstock includes key rare earths for permanent magnets, notably neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb), supporting increasing global demand. It contains an important distribution of additional heavy rare earths, such as samarium (Sm), gadolinium (Gd) and yttrium (Y), used in critical advanced technology sectors such as automotive, electronics, medical and aerospace applications.
“This proposed transaction would mark a significant milestone in strengthening and diversifying our upstream supply chain,” said An Nuyttens, President of Solvay’s Special Chem business. “By partnering with Viridis, we would ensure another reliable source of raw materials that would allow us to maximize our processing capacity and meet the growing global demand for high-purity, sustainably processed rare earth elements. This includes industrial scale separation of disprosium (Dy) and terbium (Tb) by September 2026 at our La Rochelle site in France. Solvay maintains its target of supplying 30% of the European market for magnet-grade light and heavy rare earths by 2030.”
“Partnering with Solvay would allow us to connect our resource base with one of the most advanced rare earth processing platforms globally,” said Rafael Moreno, Managing Director and CEO at Viridis Mining and Minerals. “Together, we would be advancing a more diversified and responsible supply of critical materials to support rapidly growing global demand.”
Solvay’s La Rochelle facility is one of the largest, rare earth separation plants outside China and one of the few sites worldwide capable of processing all rare earth elements at industrial scale. The partnership supports Solvay’s broader ambition to scale up production capacity and contribute to the development of a more resilient rare earth value chain.
The contemplated transaction remains subject to definitive documentation, compliance with applicable requirements and other customary conditions. Accordingly, there can be no assurance that the transaction will be completed or as to its final terms.
Note: The headline, insights, and image of this press release may have been refined by the ALCHEMPro staff; the rest of the content remains unchanged.
ALCHEMPro News Desk (JP)
