Shin-Etsu Chemical is building a new rare-earth magnet refinery in Fukui prefecture, Japan, its first such facility in nearly two decades. The investment totals at least 35 billion yen, roughly $218 million, with the Japanese government picking up half the tab through a 17.5 billion yen subsidy.
What Shin-Etsu is actually building
The new refinery will focus on heavy rare earth elements, specifically dysprosium, terbium, and yttrium. These aren’t household names, but they’re the ingredients that make neodymium-based magnets work, the kind found in EV motors, wind turbines, and advanced electronics.
Shin-Etsu currently operates Japan’s only large-scale rare-earth separation and refining plant. The company has been working with rare earth materials since 1961.
The new Fukui facility marks the first time Shin-Etsu has built a new refinery since 2008.
