Neo Performance Materials Narva Magnet Plant

Sintered NdFeB permanent magnet plant in Narva, Estonia — described by the European Commission as Europe's largest rare earth magnet factory — opened 19 September 2025 with EUR 14.5 million from the EU Just Transition Fund. Neo's grand-opening release (22 September 2025) states operations began in May 2025, the plant is producing and shipping qualification sample magnets, Phase 1A is projected to produce 2,000 t/year of magnets, and Phase 1B plans to scale beyond 5,000 t/year. Recorded as commissioned rather than in full commercial production: the sources attest an opening and qualification-sample output, not commercial-rate production. The NdFeB alloy input is an inferred mapping — Neo describes converting rare earth feedstock from its Sillamäe separation plant into magnets, and sintered magnet production consumes NdFeB alloy, but the sources do not name the alloy intermediate explicitly.

Facts on this page last re-verified Aug 11, 2026 — the oldest verification date among its current claims. How we verify.