LONDON, UK: Rainbow Rare Earths has become a member of the European Raw Material Alliance (ERMA).
ERMA is working to ensure reliable, secure, and sustainable access to critical and strategic raw materials, with a specific focus on the rare earth magnet chain. Aiming to make Europe economically more resilient, ERMA is looking to diversify supply chains, promote innovation, create jobs, and attract investment. By 2030, ERMA’s activities will increase the production of raw and advanced materials.
Rainbow CEO, George Bennett, commented: “We are pleased to have been accepted as a member of ERMA – an essential alliance which is working to accelerate the green and digital transition through securing and reinforcing rare earths supply chains. With our near-term development opportunity at Phalaborwa, alongside our unique and innovative technologies and processes, Rainbow is well positioned to contribute to a responsible supply chain, unlocking sources of critical permanent magnet rare earths which are required to drive global decarbonisation.”
The European Raw Materials Alliance (ERMA) aims to make Europe economically more resilient by diversifying its supply chains, creating jobs, attracting investments to the raw materials value chain, fostering innovation, training young talents and contributing to the best enabling framework for raw materials and the Circular Economy worldwide.
The Alliance addresses the challenge of securing access to sustainable raw materials, advanced materials, and industrial processing know-how. By 2030, ERMA’s activities will increase the production of raw and advanced materials and address Circular Economy by boosting the recovery and recycling of Critical Raw Materials. More specifically, the Alliance will:
· Bolster the creation of environmentally sustainable and socially equitable innovations and infrastructure.
· Implement a Circular Economy of complex products like electric vehicles, clean tech, and hydrogen equipment.
· Support Europe’s raw materials industry capability, to extract, design, manufacture and recycle materials.
· Promote innovation, strategic investment, and industrial production across specific value chains.