19/09/2025 (Agence Europe) – On Friday 19 September, the European Union inaugurated its largest rare earth magnet factory in Narva, Estonia. Funded by the EU to the tune of €14.5 million through the Just Transition Fund, the plant aims to reduce Europe’s dependence on Chinese imports (over 90% of the magnets currently used in the EU). Intended to supply strategic sectors such as electric vehicles, wind turbines and microelectronics, the factory is expected to create up to 1,000 jobs in the Ida-Viru region and strengthen Europe’s industrial autonomy and competitiveness. “The inauguration of the magnet factory is a perfect example of how Cohesion Policy can make a real difference for a region and its citizens,” emphasised Raffaele Fitto, Executive Vice-President of the European Commission. (LC)