Solvay and Viridis LOI for Brazil-to-La Rochelle rare-earth supply

Deal outline

Solvay has entered a Letter of Intent with Viridis Mining and Minerals to secure a strategic supply of rare earth feedstocks by 2028; both parties will work to finalise a definitive sourcing agreement.

Feedstock and processing

Under the LOI, Viridis is expected to supply critical rare earth feedstocks from Brazil to Solvay’s La Rochelle plant. Solvay will contribute recognised rare earth separation expertise and processing technology to refine raw materials into high-purity oxide elements for electric vehicle motors, renewable energy, advanced electronics and defence systems.

Materials and capacity targets

The feedstock includes magnet-grade neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb), and additional heavy rare earths such as samarium (Sm), gadolinium (Gd) and yttrium (Y). Solvay stated plans for industrial-scale separation of Dy and Tb at La Rochelle by September 2026 and maintains a target to supply 30% of the European market for magnet-grade light and heavy rare earths by 2030.

Facility role and conditions

Solvay’s La Rochelle facility is described as one of the largest rare earth separation plants outside China and one of the few sites capable of processing all rare earth elements at industrial scale. The contemplated transaction remains subject to definitive documentation, compliance with applicable requirements and customary conditions, so completion and final terms are not assured.