France seeks to reclaim industrial sovereignty in rare earths, permanent magnets

France aims to reclaim its industrial sovereignty in rare earths and permanent magnets through a national resilience plan, a government statement said on Wednesday.

The statement came after Economy Minister Roland Lescure and Minister Delegate for Industry Sebastien Martin presented a national resilience plan on rare earths and permanent magnets.

"This plan marks a decisive step in reclaiming a strategic industrial sector," the statement said.

Referring to the current energy crisis marked by tensions in the Middle East, it pointed out the significance of transforming France's model toward a decarbonized economy while securing independence and "avoiding substituting one dependency for another."

"Today, more than 85% of global rare earth separation capacity is concentrated in a single country. This situation directly exposes Europe to major risks: geopolitical tensions, export restrictions, supply disruptions," it added.

The statement also recalled that European demand for permanent magnets could reach up to 45,000 tons by 2030, driven by electromobility and renewable energy.

"Faced with this strategic risk, France refuses dependence and chooses to act," it added.

The statement further outlined a strategy across the entire value chain, built around three complementary priorities, including securing supplies, rebuilding a complete industrial value chain in France and in Europe, and structuring demand to guarantee sustainable outlets for the sector.

"The ambition is to place France among the nations capable of mastering its industrial destiny," it said.

The statement noted that France aims to cover 10% of global demand for heavy rare earths -- more than 100% of French needs -- and 25% of European needs in light rare earths by 2030.