Neo Performance Materials Inc, Toronto, Canada, has agreed the terms of a proposed partnership with rare earth technology company Carester SAS, headquartered in Lyon, France, aimed at strengthening its European rare earth magnet supply chain.

Carester is currently constructing Caremag, a rare earth recycling and heavy rare earth separation facility. Under the proposed partnership, Neo is expected to gain access to separated heavy rare earth oxides from Caremag for use at its European sintered magnet facility. In return, Carester will gain access to recyclable magnet swarf from Neo, as well as rare earth separation capacity at Neo’s Silmet facility in Estonia.