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GDRE Joins Rare Earth Industry Association (REIA)
A group of stakeholders from the rare earth supply chain met for The Global Rare Earth Industry Association Conference, June 25- 27 in Brussels, Belgium. The meeting marked the first General Assembly to establish a global association to develop an integrated, de-risked and sustainable value chain for rare earth materials.
The Rare Earth Industry Association (REIA) was founded by 12 organizations —Fujian Changting Golden Dragon Rare-Earth Co.,Ltd.( one of the six rare earth groups in China), trading firm Noble Group, Japan's Mitsubishi Research, B&C Speakers Italy, JL Mag Europe, Danish pump manufacturer Grundfos, German recycling firm RockLink, French rare earths recycler Carester, Germany's Brugger Magnets, the Chinese Urban Environment Institute, Canadian mining company Mkango and Japanese trading company MTC.
The founding members represent the entire rare earths supply chain, from mining to finished products and research.
The initiative is funded by EU independent body the European Innovation and Technology Raw Materials Fund.
Rare earths elements (REEs) are vital components in a vast number of domestic and industrial devices, and they are particularly crucial components in sustainable technologies.
“The priorities of REIA are to ensure market transparency and sustainability for the rare-earths sector,” commented Dr. Veluri, “through the development of a well-matched and balanced global stakeholder network. Our members will work collaboratively on a conjoined and coherent approach towards raw-materials policies and issues.”
However, enhancing collaboration between the REE supply chain is a major challenge because unlike many other types of metals and elements, like cobalt and magnesium, there was no REE industry association who gathers stakeholders together to represent the sector's interests. The Global Rare Earth Industry Association is now in place, offering "a unique rare earth platform by creating a global network that will be instrumental in mitigating business risks," the association said.
Fujian Changting Golden Dragon Rare-Earth Co.,Ltd(GDRE for short)., as the only rare earths manufacturer from China among the founding members, was mostly welcomed in REIA. GDRE itself represents a sample of the entire rare earth value chain with its business covering rare earths research, rare earths mining, finished rare earths products like rare earth oxides, rare earth metals, rare earth phosphors and rare earth magnets (NdFeB & SmCo), and rare earths recycling.