A new partnership between Torngat Metals and German magnet maker VAC aims to reduce reliance on Chinese rare earth supplies, bolstering the production of essential technologies for clean energy and defence. The non-binding deal focuses on securing long-term access to critical minerals from Torngat's Strange Lake project in northern Quebec.
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At a high-level summit in Beijing, the European Union acknowledged China’s efforts to ease restrictions on rare earth exports, a move that had threatened key European industries. The curbs, imposed in April amid tensions with the U.S., disrupted supplies critical to sectors like defense and clean energy.
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