A new global association for rare earth industry stakeholders known as the Rare Earth Industry Association or REIA has been launched to ensure market transparency and sustainability for sector.
Established with the support of EIT RawMaterials, a European R&D funding agency, Brussels-based REIA comes at a crucial time of trade frictions, which threatens to impact the global rare-earths value chain.
Other factors such as the unprecedented growth of new markets for new-energy technologies increasingly put the rare-earths industry in the spotlight.
“The formation of REIA is most timely,” says Dr Nabeel Mancheri, an economist with more than 10 years of experience in the rare-earths sector, and newly appointed Secretary General of the association. “We are delighted that the 12 founding members of REIA, representing the full spectrum of industry stakeholders, have come together in this fashion.”
The 12 founding members of REIA are Grundfos (Denmark), Fujian Changting Golden Dragon Rare-Earth Co.,Ltd. (China), Brugger Magnet Systems (Germany), B&C Speakers (Italy), JL Mag Europe (Netherlands), Material Trading Company (Japan), Japan Society of Newer Metals, Talaxis (Singapore); Mkango Resources (UK); RockLink (Germany), Institute of Urban Environment (China) and Carester (France).
During REIA’s first General Assembly of its members, held in Brussels earlier this week, representatives of each of the founder members were appointed to the association’s Board of Directors.
Dr Badrinath Veluri of Grundfos was elected by the General Assembly as inaugural President of REIA; Myriam El Kara of Talaxis and Shimizu Kotaro of the Japan Society of Newer Metals were elected as Vice-Presidents. Rob Koppelmans of JL Mag Europe was elected as Treasurer.
Each officer will hold their positions for the next three years.
Joining Mancheri on the management team for REIA are Gwendolyn Bailey, a rare-earths scientist as sustainability advisor, and Elbert Loois, a critical raw-materials expert and chairman of the initial project advisory board, as management advisor.
An Advisory Board was also created to support the association.
The REIA’s priorities will be achieved “through the development of a well-matched and balanced global stakeholder network,” says Dr Veluri.
“Our members will work collaboratively on a conjoined and coherent approach towards raw-materials policies and issues. We look forward to welcoming additional members to the association.”