Torngat and VAC forge strategic rare earth alliance

Torngat Metals, based in Quebec and specializing in rare earth development, has signed a non-binding memorandum of understanding (MOU) with Vacuumschmelze (VAC), a global leader in rare earth permanent magnet production. This agreement aims for Torngat Metals to supply VAC with a long-term, fully traceable, and responsibly produced source of separated rare earth oxides.

Tim Hodgson, Canada's minister of energy and natural resources, said: "The partnership between Torngat Metals and VAC marks a significant step forward in Canada's efforts to build a secure and sustainable supply chain for rare earth elements. By advancing responsible development at Strange Lake and forging international collaboration with a global leader like VAC, Torngat Metals is helping to position Canada as a key contributor to the permanent magnet supply chain, and an energy and critical mineral superpower. This agreement reflects our shared commitment with Germany to reduce reliance on single-source supply chains and strengthen the resilience of critical mineral access worldwide,"

Torngat Metals is a private company based in Canada working to develop the Strange Lake rare earth project to responsibly supply rare earth elements required for high-tech and low-carbon solutions. With development activities in Quebec, and Newfoundland and Labrador, the company aims to be a globally recognized supplier of light rare earths and a global leader in solving the heavy rare earth supply crisis for dysprosium and terbium.

Yves Leduc, CEO of Torngat Metals, and Erik Eschen, CEO of VAC, signed the MOU in Berlin today in the presence of Canada's Minister of Energy and Natural Resources Tim Hodgson and Germany's Minister for Economic Affairs and Energy Katherina Reiche. This strategic move highlights the bilateral collaboration between Canada and Germany in critical minerals as both countries work to address the global heavy rare earths crisis and establish a permanent magnet supply chain independent of China.

Yves Leduc, CEO of Torngat Metals, stated: "This MOU highlights our progress—not only in advancing project development, but also in forging the partnerships needed to build a resilient and diversified supply chain for rare earth permanent magnets. These critical minerals are central to advanced clean energy technologies, and we look forward to working with VAC to play a leading role in driving the transition."

By collaborating with VAC, Torngat Metals strengthens its role as a reliable partner in the permanent magnet supply chain. Once operational, the company's Strange Lake project will uniquely position Torngat Metals to secure a long-term supply of light and heavy rare earth oxides needed for permanent magnets.

Erik Eschen, CEO of VAC, said: "As the sole Western producer of sintered rare earth permanent magnets, VAC is at the forefront of securing a diverse and resilient supply chain for critical raw materials. The company is expanding our global capacities and moving upstream into strip casting and metal making, strengthening every stage of production. Ensuring reliable access to terbium (Tb) and dysprosium (Dy) – elements essential to high-performance magnets is the final step, and one that we are achieving through our strategic partnership with Torngat Metals. This commitment is essential to reinforce VAC's strategic position and bolster the industrial base. In doing so, we can enhance the national security of our allied nations by ensuring the continuous availability of technology critical to our collective defense.”

Learn more at www.TorngatMetals.com and www.VacuumSchmelze.com.