Europe's Largest Rare-Earth Plant on Russian Border to Cut China Reliance

• Europe's largest rare-earth magnet plant, operated by Neo Performance Materials, has opened in Narva, Estonia, near the Russian border.
• The plant aims to reduce Europe's reliance on China for rare-earth magnets, crucial for EVs, wind turbines, and other advanced technologies.
• Currently producing 2,000 tons annually, with plans to expand to over 5,000 tons, potentially meeting 10% of Europe's total demand.
• Challenges include high production costs, stringent regulations, and a fragmented domestic supply chain, despite EU and Estonian government support.
• The EU's "RESourceEU" plan seeks to diversify rare-earth supply chains, addressing risks from Chinese export restrictions and geopolitical tensions.

Why It Matters: Europe's rare-earth plant reduces strategic reliance on China.