Nidec Motor Corporation and Noveon Magnetics have made a 5-year, binding off-take agreement with the potential to supply more than 1,000 tons of total off-take of finished sintered NdFeB rare earth magnets to support Nidec’s […]
Neo Performance Materials reported strong profit increases in its full-year financial report for 2024, issued March 18. Highlights for its Neo Magnequench unit included a solid gain in earnings despite lower revenues, and continued progress in the construction of its new permanent magnet plant in Europe. In a separate announcement, the company reported on April 1 that as part of a corporate streamlining effort it completed the sale of most of its interest in a rare earth separations operation in China for about $28 million to an affiliate of Shenghe Resources. […]
Arafura Rare Earths has executed an offtake agreement with Traxys Europe, a global minerals trader based in Luxembourg, for the sale of NdPr oxide from Arafura’s Nolans Project in Australia. Contract volume is 100 tons […]
Cergen Technology, a manufacturer of magnetic cores and components in China, is making a major expansion at its new facility in Jiaxing southwest of Shanghai that is expected to go into operation this year. Construction […]
thyssenkrupp Steel has put into operation a new high-tech annealing and isolating line for producing electrical steel in Bochum, Germany. Part of a modernization project, the modern and energy-efficient plant in the Ruhr Valley now can manufacture up to 0.2 mm thin electrical sheet with particularly homogeneous mechanical and magnetic properties tailored for advanced EV motors. […]
Europe has a new buyer of scrap magnets and rare earth magnetic materials for recycling into freshly minted powders for producing high-quality magnets. Precious metals company Heraeus has begun production at what is now the continent’s largest recycling plant for rare earth magnets.
Leonardo DRS announced February 24 that it has received a $45 million U.S. Navy Submarine Industrial Base investment commitment through contracts with Huntington Ingalls Industries’ (HII) Newport News Shipbuilding. The investment is expected to expand the […]
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