Noveon Solvay rare earth oxides deal starts 2026 as magnet supply chains tighten

Noveon

The Noveon Solvay rare earth oxides deal strengthens Western magnet supply chains. Noveon Magnetics signed an agreement with Solvay for critical rare earth oxides. The Noveon Solvay rare earth oxides deal starts in 2026 and covers NdPr, dysprosium, and terbium oxides. Volume and pricing details were not disclosed.

This agreement targets high-value magnet inputs for EVs and industrial motors. NdPr anchors most permanent magnet demand, while heavy rare earths protect performance at heat. Meanwhile, buyers want non-China supply options with traceability. Therefore, long-term supply agreements are becoming a strategic asset.

Noveon scales magnet capacity and targets South Korea production

Noveon already produces about 2,000 tonnes per year of magnets. The company says it can scale to 10,000 tonnes per year. It also plans a 2,000-tonne-per-year magnet facility in South Korea.

Customers signal strong industrial pull. Noveon supplies firms such as Nidec, General Motors, and ABB. As a result, secure oxide supply can support higher magnet output and stable delivery schedules.

Solvay builds recycling and separation to meet Europe’s 2030 targets

Solvay is expanding its European rare earth footprint through separation and recycling. The company operates a rare earth separation and recycling site in La Rochelle. It partners with Cyclic Materials to source recycled mixed rare earth oxides for that facility.

Solvay aims to meet 30% of Europe’s rare earth demand by 2030. The La Rochelle site can separate all rare earth elements. However, Europe still faces bottlenecks in feedstock, permitting, and financing. Therefore, the Noveon Solvay rare earth oxides deal also signals confidence in regional scale-up.

The Metalnomist Commentary

Heavy rare earth access will decide who wins high-temperature motor specifications. Meanwhile, recycling-linked oxides can reduce scope-three risk for EV supply chains. Therefore, buyers should lock multi-year contracts and qualify recycled streams early.