Tag: Hard Commodities

Europe is trying to get itself on the global rare-earths map, and a new facility on Russia’s border is its opening bid.

The city of Narva in Estonia, once a textiles hub for the Russian Empire, is now host to Europe’s biggest production plant for the kinds of rare-earth magnets needed in electric cars and wind turbines. It is part of Europe’s push to secure a foothold in a global supply chain dominated at every step by China. Built by Canada’s Neo Performance Materials and financed in part by the European Union, the factory is expected to begin commercial deliveries to companies including the German car-parts supplier Robert Bosch next year.