European companies are increasingly turning to France to develop a domestic rare earths sector amid significant disruptions in supply from China. According to Wood Mackenzie, China's trade restrictions implemented this spring led to a 51% drop in exports of rare earth magnets within a month. This has prompted industrial groups in Europe to seek alternative sources, with France emerging as a key focus for rare earth mineral extraction and processing. Erick Petit, CEO of MagREEsource, a permanent magnet manufacturer, highlighted the challenge of meeting growing demand due to limited capacity.
Efforts are also underway to promote recycling of precious metals to support France's industrial sovereignty, as emphasized by Simon Vaillant of WeeeeCycling. Additionally, strategic dialogue on circular economy initiatives aims to foster new models for conserving, reusing, and recycling raw materials within the EU. Meanwhile, Japan's Furukawa is exploring seabed mining techniques to extract rare earth elements, indicating a broader regional interest in diversifying supply chains.