France-Japan Participation in REE Refining Project

Japan, through JOGMEC, has announced its support for a project planned by Caremag SAS (headquartered in Lyon, France) to separate rare earths from recycled magnets and raw ores in southwest France and to produce individual rare earth oxides. JOGMEC has decided to contribute approximately EUR 100 million to the project and signed a long-term supply contract that is expected to supply an equivalent of 20% of future Japanese demand for the produced heavy rare earths. 

France has also provided support of approximately EUR 106 million to the project, including by way of subsidies and tax credits.

The cooperation between the countries is in line with the Japan-France Declaration on Cooperation in the Field of Critical Minerals signed in 2024. 

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