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Carmakers seek western supplies of rare earths and magnets

The Owner Press by The Owner Press
June 15, 2025
in Business News
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European carmakers are in talks with western magnet and uncommon earths corporations as they search to safe various sources of the crucial supplies amid a scarcity exacerbated by Chinese language export restrictions.

Uncommon earths are very important to automobile producers as a result of they’re used within the everlasting magnets in electrical automobile motors in addition to different elements present in all automobiles. China, which dominates the availability and processing of the supplies, tightened export controls in April in response to the escalating US tariff struggle.

Germany’s Mercedes-Benz is in talks with the UK’s Rainbow Uncommon Earths to safe future output from its South African mine, based on one individual acquainted with the talks.

Rainbow, which is backed by TechMet, a mining firm part-owned by the US authorities, expects to begin producing uncommon earths in 2027 that may find yourself in everlasting magnets.

Mercedes declined to remark. Rainbow stated it “continues to progress offtake discussions with quite a lot of trade members” together with automakers and world buying and selling corporations.

Frank Eckard, chief government of German magnet maker Magnosphere, stated Porsche and different carmakers had requested for extra provides to keep away from a shutdown of manufacturing strains within the coming weeks.

“Everyone began calling and stated, ‘are you able to give us 2,000 magnets as a result of our line goes to face nonetheless. The worth shouldn’t be a problem — let’s speak about what you are able to do, when can we’ve it, and how will you do it.’ It’s simply unbelievable,” Eckard stated. 

Porsche declined to touch upon its suppliers.

Eckard predicted that automobile manufacturing could be halted by mid-July until corporations may discover various sources for the magnets.

The scarcity shouldn’t be confined to Europe — Ford in Might briefly halted manufacturing at its sport utility automobile plant in Chicago due to a scarcity of magnets. 

Some corporations have been asking Magnosphere, which makes use of uncommon earth supplies from China to provide its magnets, if it will have the ability to make them with out counting on Chinese language provides, based on Eckard. 

Berenberg analysts stated on Thursday that the geopolitical tussle over the metals would “catalyse funding in non-Chinese language provide chains”, with corporations together with Rainbow anticipated to profit.

Automotive executives have repeatedly warned that stockpiles of uncommon earth magnets would final solely a few weeks to some months.

One of many few exceptions is Hyundai. The South Korean carmaker and its sister firm Kia have informed traders they’ve uncommon earth stockpiles lasting till a minimum of the tip of yr, based on two individuals with information of the discussions.

“As a part of our commonplace enterprise practices, we preserve acceptable stock ranges to assist uninterrupted manufacturing. We don’t disclose particular stock particulars or procurement methods,” Hyundai stated.

Even when European carmakers do safe uncommon earths mined from outdoors China, nonetheless, the vast majority of magnet manufacturing happens in Asia.

“Except Europe will get actual about making everlasting magnets, we’re not going to unravel the issue,” stated one government.

Beijing has not too long ago agreed to fast-track approvals for uncommon earth export licences for some European corporations following warnings that its new licence system for uncommon earths and associated magnets risked inflicting widespread manufacturing facility stoppages and disruptions to world provide chains.

However trade executives have stated producers should still face delays in receiving their uncommon earth and magnet shipments due to a backlog of licence purposes.

Even for corporations reminiscent of Volkswagen, which have already obtained a licence from China, it will nonetheless take weeks and even months earlier than the shipments arrive, they added.

Extra reporting by Track Jung-a in Seoul



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Tags: carmakersEarthsmagnetsRareseeksuppliesWestern
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