European Magnet Maker Warns of Rare Earth Crisis Without Action

Europe needs to take much more decisive action to slash reliance on Chinese rare earths to avert worse supply disruptions, according to a German magnet maker that’s just started a plant in the US.

Vacuumschmelze GmbH’s new facility in South Carolina is among the first to reach production in a planned wave of rare-earth magnet projects in America. Chief Executive Officer Erik Eschen contrasted US efforts to reshore supply chains with what he described as Europe’s far less urgent approach, both from government and in boardrooms.