China's rare earth rule to speed supply chain shifts: Solvay CEO

Europe chemical maker to aim for 30% self sufficiency for bloc; eyes Japan

20240724 Solvay

Solvay CEO Philippe Kehren says China's tighter control of rare earths will spur supply chain diversification. (Nikkei montage/Source photos by AP, Reuters and Solvay)

CHENG TING-FANG, Nikkei Asia chief tech correspondent

TAIPEI -- China's tighter regulation of its rare-earths industry is likely to accelerate global efforts to diversify the supply of these critical materials away from Asia's biggest economy, according to European chemical supplier Solvay.

CEO Philippe Kehren told Nikkei Asia that "regionalization" is becoming an increasingly important priority for customers.

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