SAV: New Project Aims to Boost EU's Resilience to Imports of Magnetic Materials

Bratislava, November 23 (TASR) - The Physics Institute of the Slovak Academy of Sciences (SAV) is joining a multi-million-euro project aimed at recycling permanent magnets, with the goal of helping the EU to avoid dependence on key imported elements needed to produce such magnets, TASR has learnt from SAV spokeswoman Monika Tinakova. [Permanent magnets preserve their magnetic properties after they are exposed to a magnetic field. - ed. note] The project aims to establish a new, previously non-existent technology chain, to demonstrate its feasibility and to present pilot solutions for recycling permanent magnets containing strategic elements, with a particular focus on supporting less-developed regions of Europe. At the same time, scientists will have the opportunity to create new jobs in industry. According to the Institute, the project will have a positive impact on the environment. "The project can be seen as a response to the European Union's vulnerability due to its dependence on imports of rare earths, which are essential for producing high-quality permanent magnets. If exports of these strategic raw materials from third countries were to stop, it could result in a cut in their supplies to the European Union of up to 98 percent, potentially halting the green and digital transformation," said Peter Svec from SAV's Physics Institute. Svec noted that one phase of the project will focus on the recycling and processing of used magnets, while the second phase will focus on the production of new magnets from recycled raw materials. Another phase will address their integration and use in products. According to SAV's Physics Institute, 21 processing centres are expected to be built by 2050, creating a significant number of jobs, reducing CO2 emissions by 95 million tonnes, and generating financial revenues of €1.8 billion. The European project under the Interregional Innovation Investments Instrument, with a budget exceeding six million euros, involves a total of 14 partners from seven European countries. tl/df/zel