Philippe Kehren, CEO of multinational Solvay: Reducing reliance on China’s rare earth metals

Jonathan Josephs speaks to Philippe Kehren, CEO of chemical multinational company Solvay. His firm sits at the forefront of Europe’s efforts to diversify its supply of rare earth metals. These elements are essential to much of modern technology, from mobile phones to medical equipment, car batteries and renewable energy.

Currently their supply is heavily dependent on China, which mines around 70% of all rare earth metals, and refines around 90%. Solvay aims to play a significant role in reducing this dependence, by increasing European capacity to mine and refine these materials.

However, Mr Kehren says the European Union needs to play its part by introducing incentives for customers to buy from European suppliers rather than their cheaper Chinese competitors.

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Presenter: Jonathan Josephs
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(Image: Philippe Kehren. Credit: Dirk Waem/Belga Mag/AFP via Getty Images)