Business
Torngat Metals and Carester sign landmark agreement to advance responsible rare earth production and strengthen supply chain
Torngat Metals, a Quebec-based rare earth development company, and Carester, a European leader in separation and recycling technologies, have signed a ten-year offtake agreement under which Torngat Metals will supply Carester's subsidiary Caremag, which operates a rare earth recycling and separation plant currently being built in Lacq, Pyrénées-Atlantiques, France.
About this update from Heavy Rare Earths Limited
[{"type":"text","content":"MONTREAL, Oct. 31, 2025 /CNW/ - Torngat Metals, a Quebec-based rare earth development company, and Carester, a European leader in separation and recycling technologies, have signed a ten-year offtake agreement under which Torngat Metals will supply Carester's subsidiary Caremag, which operates a rare earth recycling and separation plant currently being built in Lacq, Pyrénées-Atlantiques, France.","length":403,"tagName":"p"},{"type":"text","content":"Under the agreement, once operational, Torngat Metals will deliver a stream of partially separated heavy rare earths, specifically containing dysprosium and terbium, to Caremag. This strategic supply will support Carester's production goals while enabling Torngat Metals to optimize its related separation processes at the beginning of its operation phase.","length":360,"tagName":"p"},{"type":"text","content":"The offtake agreement between Torngat Metals and Carester forms the cornerstone of a broader, long-term partnership aimed at ensuring shared production while contributing to a robust, responsible, and secure, reliable rare-earth supply chain.","length":242,"tagName":"p"},{"type":"text","content":"Since 2023, Carester has provided specialized services, technical expertise and proprietary knowledge with a view to advancing Torngat Metals' rare earth separation processes and detailed plant design. Carester will continue to support Torngat Metals in the areas of training, construction and plant commissioning.","length":318,"tagName":"p"},{"type":"text","content":""We're proud to announce the signing of this first off-take agreement and to strengthen our collaboration with a long-term partner who shares our commitment to securing a reliable supply of rare earth elements—materials essential to our economy and the energy transition. Together, we are building a more responsible industry," said Yves Leduc, CEO of Torngat Metals. "This agreement with Torngat Metals marks a major step toward securing high-quality feedstock for Caremag while advancing our mission to make rare earth separation more efficient and environmentally responsible. By combining our expertise, we are helping shape a resilient supply chain for Europe and beyond," said Frédéric Carencotte, president and founder of Carester.","length":774,"tagName":"p"},{"type":"text","conte...