First Global Rare Earth Industry Association Was Established

The Global Rare Earth Industry Association (REIA) was established at the European Institute of Innovation and Technology (EIT) raw materials organization headquarters in Brussels, Belgium. REIA is a Brussels-based international rare earth association that provides an interoperable platform for rare earth-related companies to mitigate business risks in the rare earth value chain and provides members with assistance in the environment, technology and market dynamics related to rare earth.

REIA said that the establishment of the association coincided with the escalation of the global trade war. Besides, the rapid development of new energy technologies has led to explosive growth in demand for rare earth, and the supply is under pressure.

The association was initiated and founded by 12 members, respectively are Grundfos, Fujian Changting Golden Dragon Rare-Earth Co., Ltd., BRUGGER, B&C Speakers, Jinli Permanent Magnet Europe, Japan Material Trading Corporation, Japan New Materials Society, Talaxis, UK Mkango, Rocklink Rare Metals Recycling, Institute of Urban Environment of Chinese Academy of Sciences and Carester of France.

At the first membership meeting of REIA, representatives of each sponsoring company were appointed as members of the association's board of directors. Among them, Dr. Badrinath Veluri of Grundfos was elected as the president of the first association, Myriam El Kara of Talsis and Shimizu Kotaro of Japan New Materials Society were elected as the vice president, and Shimizu Kotaro of Jinli Permanent Magnet Europe was elected as the chief financial officer. All of the above personnel were appointed for a term of three years. At the same time, the association also invited the expert group to set up an advisory committee.

At the meeting, Dr. Nabir Mancheri emphasized that “the primary mission of the Global Rare Earth Industry Association is to ensure market transparency and sustainability in the rare earth industry and to provide and build an interoperable platform for the global rare earth industry. Our members will work together to adopt a coherent approach to raw material policies and related issues, and look forward to more members joining us."

Fujian Changting Golden Dragon Rare-Earth Co., Ltd. of China is a leading enterprise in the rare earth industry in Fujian Province, which is a wholly-owned subsidiary of Xiamen Tungsten Co., Ltd., and it mainly engaged in R&D and application of separation, deep processing, and functional materials. The company has a relatively complete industrial chain from mining, separation to rare earth metal, and deep processing (phosphor, magnetic materials).

Another Chinese research institute, the Institute of Urban Environment of the Chinese Academy of Sciences, is a legal entity affiliated to the Chinese Academy of Sciences. It is currently the only national research institution specializing in comprehensive research on the urban environment, which carries out theoretical and technological research and development, system integration and engineering demonstration in the fields of a circular economy, urban planning, and environmental policy.

The Global Rare Earth Industry Association will contribute to capacity building for industry practitioners via enhanced networking among stake holders worldwide, and a better understanding of rare earth value chain, towards a conjoined and coherent approach towards raw materials policies and investments.

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