Solvay Secures 70% of Colossus Magnet Rare Earth Output in Brazilian Supply Deal Through 2034

Highlights

• Solvay signed a long-term feedstock agreement with Viridis Mining covering ~70% of Colossus project rare earth output through 2034, with first-offer rights on the remainder.
• The deal targets neodymium, praseodymium, dysprosium, and terbium, with shipments to Solvay's La Rochelle, France separation facility expected by 2028.
• Price-floor provisions in the agreement aim to improve Colossus project bankability by protecting Viridis against falling rare earth prices.
• Solvay is also exploring a rare earth joint venture with OneIM, a business generating roughly €80 million in annual EBITDA, with terms still undisclosed.
• Solvay reported Q3 revenue of €1.031 billion and EBITDA down 25.3% year over year, with net debt at €1.8 billion and leverage at 2.4 times.