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illuminem summarises for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: Europe's first rare-earth magnet production facility has opened in Narva, Estonia, marking a critical step in the EU’s strategy to reduce dependency on Chinese imports
• Built by Canadian firm Neo Performance Materials and supported by the European Commission, the plant will supply magnets for over one million electric vehicles or more than 1,000 offshore wind turbines annually
🔭 The context: Currently, China supplies around 90% of the EU’s permanent magnets—vital components in clean energy and mobility technologies
• The Narva facility forms part of a broader EU effort to secure strategic supply chains for the green transition, particularly in critical raw materials
• Estonia, and specifically the post-industrial region of Ida-Viru, is receiving targeted support under the EU’s Just Transition Fund
🌍 Why it matters for the planet: Permanent magnets are crucial to the performance and efficiency of electric motors and wind turbines
• Localising their production strengthens Europe’s climate resilience while reducing the carbon footprint of long-distance supply chains
• The Narva plant also contributes to the decarbonisation of a historically fossil-fuel-dependent region, aligning industrial regeneration with climate goals
⏭️ What's next: The facility currently employs 80 people, with expectations to scale up to 1,000 jobs as demand and capacity grow
• The EU has allocated €354 million to support the region’s green transition through 2027
• Narva’s success could become a model for clean-tech manufacturing hubs in other transition regions across Europe, especially those vulnerable to economic disruption from fossil fuel phase-outs
💬 One quote: “This kind of factory will bring new industrial companies. Of course, it forces us to develop our workforce.” – Katri Raik, Mayor of Narva
📈 One stat: The Narva plant has an annual production capacity of 2,000 metric tonnes of magnet blocks—enough to equip more than 1 million EVs or 1,000 offshore wind turbines
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