Solvay and Viridis Mining and Minerals have signed a non-binding letter of intent (LoI) for the supply of mixed rare earth carbonate (MREC) from Brazil to Solvay’s La Rochelle facility in France.
The agreement aims to secure critical feedstocks to improve diversification and resilience within the global rare earth materials supply chain.
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The parties are currently targeting a definitive sourcing agreement.
According to the announced terms, Viridis is expected to provide mixed rare earth feedstocks from its Colossus Rare Earth Project in Brazil.
These materials would be processed at the La Rochelle plant, which is described as one of the largest rare earth separation facilities outside China.
Solvay would contribute its rare earth separation expertise and processing technology to accelerate the development and supply of feedstock from Brazil.
The feedstocks identified include neodymium, praseodymium, dysprosium and terbium.
These are required for the production of permanent magnets used in renewable energy, electric vehicle motors, advanced electronics and defence systems.
The materials also contain additional heavy rare earths such as samarium, gadolinium and yttrium, which are used across various technology sectors, including automotive, electronics, medical and aerospace applications.
Solvay’s Special Chem business president An Nuyttens said: “This proposed transaction would mark a significant milestone in strengthening and diversifying our upstream supply chain.
“By partnering with Viridis, we would ensure another reliable source of raw materials that would allow us to maximise our processing capacity and meet the growing global demand for high-purity, sustainably processed rare earth elements.”
The LoI sets out the commercial and technical principles for the partnership, including arrangements for offtake and a technical package.
It is intended to support the development milestones required for the Colossus project and aims for commercial production of MREC from Brazil by 2028.
The companies will work together to progress these milestones and move towards a final investment decision in the second half of 2026.
Completion of the proposed transaction is subject to negotiating definitive documents, compliance with applicable requirements and other standard conditions.
There is no assurance at this stage that the agreement will be finalised or that the eventual terms will reflect those set out in the LoI.
