The global Rare Earth Industry Association (REIA) has been established.

Launched with the support of European research and development funding agency EIT RawMaterials, the establishment of REIA comes at a time of trade friction between the US and China, which threatens to impact on the global rare earths value chain, a statement issued by the REIA said.

Other factors, such as the unprecedented growth of new markets for new-energy technologies, has also increasingly put the rare earths industry in the spotlight.

Citing the formation of REIA as “most timely”, the association’s secretary general Dr Nabeel Mancheri said the 12 founding members represented “the full spectrum of industry stakeholders”.

The founding members are Grundfos, Fujian Changting Golden Dragon Rare-Earth, Brugger Magnet Systems, B&C Speakers, JL Mag Europe, Material Trading Company, Japan Society of Newer Metals, Talaxis, Mkango Resources, RockLink, the Institute of Urban Environment and Carester.

During the REIA’s first general assembly of its members, held earlier this week, representatives of each of the founding members were appointed to the association’s board of directors.

Grundfos’ Dr Badrinath Veluri was elected as the inaugural president of REIA; Talaxis’ Myriam El Kara and Japan Society of Newer Metals’ Shimizu Kotaro were elected VPs and JL Mag Europe’s Rob Koppelmans was elected treasurer.

Each will hold their positions for the next three years.

Joining Mancheri on the management team for REIA are Gwendolyn Bailey, a rare earths scientist, as sustainability adviser; and Elbert Loois, a critical raw-materials expert and chairperson of the initial project advisory board, as management adviser.

An advisory board was also created to support the association.

“The priorities of the REIA are to ensure market transparency and sustainability for the rare-earths sector,” Veluri said, adding that this would be done through the development of a well-matched and balanced global stakeholder network.