
VAC and Torngat Metals Announce Strategic Partnership to Strengthen Rare Earth Supply Chain27.8.2025 08:17:47 EEST | VACUUMSCHMELZE GmbH & Co. KG | Press release
Hanau/Berlin – August 26, 2025 – VACUUMSCHMELZE (VAC), a global leader in the production of rare earth permanent magnets and Torngat Metals, a Quebec-based rare earths development company, have signed a non-binding Memorandum of Understanding (MOU) to pursue an offtake agreement for Torngat Metals to supply VAC with long-term security of fully traceable and responsibly produced separated rare earth oxides. The MOU was signed in Berlin today by Yves Leduc, CEO of Torngat Metals, and Erik Eschen, CEO of VAC, in the presence of Germany’s Minister for Economic Affairs and Energy Katherina Reiche and Canada’s Minister of Energy and Natural Resources Tim Hodgson. This strategic move underscores Canada and Germany's bilateral collaboration in the area of critical minerals. Both countries are seeking to address the global heavy rare earths crisis while establishing a permanent magnet supply chain independent from China.