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SRC Launches First Residential Mortgage-Backed Securities (RMBS) Transaction Under Local Securitization Program to Strengthen the Real Estate Finance Market

RIYADH, Saudi Arabia, Aug. 27, 2025 /PRNewswire/ — The Saudi Real Estate Refinance Company (SRC), a PIF company, has announced the launch of the Kingdom’s first Residential Mortgage-Backed Securities (RMBS). This landmark transaction forms part of SRC’s efforts to develop the capital markets and enhance liquidity in the real estate finance sector by introducing, for the first time in the Saudi market, an innovative asset class that contributes to deepening capital markets and diversifying investment instruments through the securitization of residential real estate finance loans.

Securitization, which gives rise to Residential Mortgage-Backed Securities (RMBS), opens attractive investment opportunities in high-credit-quality assets with medium-term maturities. The transaction was executed under stringent regulatory frameworks and transparent controls, underscoring the maturity of the Kingdom’s investment environment, reinforcing investor confidence in the local capital markets, and supporting the long-term stability of the financial sector.

His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of SRC, stated: “The launch of the Kingdom’s first RMBS transaction marks a strategic step toward developing Saudi Arabia’s real estate finance market and enhancing its appeal to both domestic and foreign investors. This initiative provides innovative financing instruments that align with the objectives of Saudi Vision 2030 to raise homeownership rates and enable more Saudi families to own suitable homes, advancing sustainable economic growth and quality of life.”

SRC CEO Majeed bin Fahd Al-Abduljabbar commented: “The launch of the first RMBS transaction represents a qualitative leap in the development of the Kingdom’s secondary mortgage market. This achievement was made possible through close collaboration with our strategic partners: the Saudi Central Bank, the Capital Market Authority, the Financial Sector Development Program, the Housing Program, and the Public Investment Fund Program.”

He added: “This transaction will enhance liquidity in the real estate finance market, broaden the investor base, and enable financing institutions to manage capital and risk more efficiently. It also supports the deepening of capital markets and diversification of the national economy, marking an important first step in attracting both domestic and international investors.”

The launch underscores SRC’s prominent role in developing the secondary mortgage market. It reaffirms investor confidence in Saudi Arabia’s regulatory environment and its readiness to adopt advanced financial instruments that keep pace with developments in global capital markets.

Established in 2017, SRC operates under a license from the Saudi Central Bank (SAMA) with the mandate to develop the Kingdom’s real estate finance market. The company plays a pivotal role in achieving the objectives of the Housing Program, one of Saudi Vision 2030’s key initiatives, by increasing homeownership rates among Saudi citizens through providing liquidity to financier and working to thereby enabling affordable financing options for Saudi families.

SRC Launches First Residential Mortgage-Backed Securities (RMBS) Transaction Under Local Securitization Program to Strengthen the Real Estate Finance Market

RIYADH, Saudi Arabia, Aug. 27, 2025 /PRNewswire/ — The Saudi Real Estate Refinance Company (SRC), a PIF company, has announced the launch of the Kingdom’s first Residential Mortgage-Backed Securities (RMBS). This landmark transaction forms part of SRC’s efforts to develop the capital markets and enhance liquidity in the real estate finance sector by introducing, for the first time in the Saudi market, an innovative asset class that contributes to deepening capital markets and diversifying investment instruments through the securitization of residential real estate finance loans.

Securitization, which gives rise to Residential Mortgage-Backed Securities (RMBS), opens attractive investment opportunities in high-credit-quality assets with medium-term maturities. The transaction was executed under stringent regulatory frameworks and transparent controls, underscoring the maturity of the Kingdom’s investment environment, reinforcing investor confidence in the local capital markets, and supporting the long-term stability of the financial sector.

His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of SRC, stated: “The launch of the Kingdom’s first RMBS transaction marks a strategic step toward developing Saudi Arabia’s real estate finance market and enhancing its appeal to both domestic and foreign investors. This initiative provides innovative financing instruments that align with the objectives of Saudi Vision 2030 to raise homeownership rates and enable more Saudi families to own suitable homes, advancing sustainable economic growth and quality of life.”

SRC CEO Majeed bin Fahd Al-Abduljabbar commented: “The launch of the first RMBS transaction represents a qualitative leap in the development of the Kingdom’s secondary mortgage market. This achievement was made possible through close collaboration with our strategic partners: the Saudi Central Bank, the Capital Market Authority, the Financial Sector Development Program, the Housing Program, and the Public Investment Fund Program.”

He added: “This transaction will enhance liquidity in the real estate finance market, broaden the investor base, and enable financing institutions to manage capital and risk more efficiently. It also supports the deepening of capital markets and diversification of the national economy, marking an important first step in attracting both domestic and international investors.”

The launch underscores SRC’s prominent role in developing the secondary mortgage market. It reaffirms investor confidence in Saudi Arabia’s regulatory environment and its readiness to adopt advanced financial instruments that keep pace with developments in global capital markets.

Established in 2017, SRC operates under a license from the Saudi Central Bank (SAMA) with the mandate to develop the Kingdom’s real estate finance market. The company plays a pivotal role in achieving the objectives of the Housing Program, one of Saudi Vision 2030’s key initiatives, by increasing homeownership rates among Saudi citizens through providing liquidity to financier and working to thereby enabling affordable financing options for Saudi families.

SAP Executives to Participate in Upcoming Investor Events in Q3 2025

WALLDORF, Germany, Aug. 27, 2025 /PRNewswire/ — SAP SE (NYSE: SAP) today announced the participation of its executives at the following event. This events will be webcast, and the replays will be made available shortly after the event on the SAP Investor Relations website: https://www.sap.com/investors/en/calendar.html

Goldman Sachs Communacopia + Technology Conference, San Francisco, Dominik Asam, CFO and member of the SAP Executive Board will hold a Fireside Chat at the event on Tuesday, September 9, 2025 5:50 pm – 6:25 pm CEST / 4:50 pm5:25 pm BST  / 11:50 am12:25 pm EDT / 8:50 am9:25 am PDT.

Jefferies Structural Winners Series, virtual, Dominik Asam, CFO and member of the SAP Executive Board will hold a Fireside Chat at the event on Tuesday, September 16, 2025 5:00 pm – 5:45 pm CEST / 4:00 pm4:45 pm BST / 11:00 am – 11:45 am EDT / 8:00 am8:45 am PDT.

 

About SAP
As a global leader in enterprise applications and business AI, SAP (NYSE: SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.

 

This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP’s 2024 Annual Report on Form 20-F.

© 2025 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.

Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/photos. On this platform, you can find high resolution material for your media channels.

For more information, financial community only:
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Follow SAP Investor Relations on LinkedIn at SAP Investor Relations.

For more information, press only:
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For customers interested in learning more about SAP products:
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United States Only: 1 (800) 872-1SAP (1-800-872-1727)

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CGTN: China’s vital role as main Eastern theater of World War II

BEIJING, Aug. 27, 2025 /PRNewswire/ — As 2025 marks the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, CGTN published an article explaining why China’s 14-year resistance was a crucial part of the World Anti-Fascist War and why China’s role should not be overlooked.

Since July, China has been marking the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War through war films and themed museum exhibitions.

The commemorations will culminate on September 3China’s Victory Day – marking the formal signing of Japan’s surrender on September 2, 1945, which officially ended World War II.

From its very outset, the Chinese People’s War of Resistance Against Japanese Aggression has held profound significance for safeguarding human civilization and defending world peace, constituting an integral part of the World Anti-Fascist War, said Chinese President Xi Jinping.

Main Eastern theater vital for WWII victory

China was the first country in the world to stand up to a fascist aggressor, making it the first front in the global anti-fascist war.

Its resistance began with the September 18 Incident in 1931, which marked the very start of the Chinese people’s fight against Japanese aggression. Then on July 7, 1937, the Lugou Bridge Incident in suburban Beijing ignited China’s whole-nation resistance war against Japanese aggression and established the country as the main Eastern battlefield of WWII.

These events occurred years before Nazi Germany’s invasion of Poland in 1939, which is often cited in traditional Western narratives as the beginning of WWII.

China’s resistance was also the longest-lasting of any nation in WWII, which continued until Japan’s surrender in 1945, underscoring the immense sacrifices and sustained efforts of the Chinese people.

Citing incomplete data, Hu Heping, executive deputy head of the Publicity Department of the Communist Party of China Central Committee, said the war resulted in over 35 million Chinese military and civilian casualties from 1931 to 1945.

The nation’s economic losses were staggering, with direct losses exceeding $100 billion and indirect losses reaching $500 billion, calculated in 1937 currency, Hu said.

What’s more important, China consistently pinned down and depleted the main forces of Japanese militarism on the battlefield, wiping out more than 1.5 million Japanese troops and playing a decisive role in the ultimate defeat of the Japanese aggressors.

China’s war of resistance provided crucial strategic support to Allied operations, coordinating with operations in Europe and elsewhere in Asia, said Hu, adding that it disrupted attempts at strategic coordination among Japanese, German and Italian fascist forces.

An ally that should not be forgotten

China played an indispensable role in establishing the world anti-fascist alliance and reconstructing the post-war international order.

On January 1, 1942, twenty-six nations, including China, the United States, the United Kingdom and the Soviet Union, issued the Declaration by the United Nations, which marked the official establishment of the anti-fascist alliance.

According to Hu Dekun, a professor at Wuhan University, China began to actively take part in consultations to shape a new post-war order during the mid-to-late stages of the war. China’s efforts were instrumental in founding the UN and several key international economic organizations, Hu wrote in July.

China’s role and contributions in WWII, long-overlooked in Western scholarship, are now receiving the attention they so richly deserve, thanks in part to the joint efforts of a growing number of scholars.

Rana Mitter, a British historian and the author of the highly acclaimed book “Forgotten Ally: China’s World War II,” told media in July that institutions such as the National WWII Museum in New Orleans and the Imperial War Museum in London have dedicated exhibition areas that systematically introduce China’s role in WWII.

China’s history of resistance should not be ignored or downplayed, said Mitter.

https://news.cgtn.com/news/2025-08-12/China-s-vital-role-as-main-Eastern-theater-of-World-War-II-1FLPfom6WYw/p.html

New Edifier G2000 Pro – Hear the Future: Transparent Design, Thunderous Sound!

Immersive 7.1 Surround Sound System with RGB Lighting & Versatile Connectivity

RICHMOND, BC, Aug. 27, 2025 /PRNewswire/ — Edifier International, the award-winning audio electronics designer, announces the launch of its latest innovation the G2000 Pro. Experience a new level of audiovisual immersion with the budget friendly Edifier G2000 Pro cutting-edge sound system, designed for both style and performance. Housed in a sleek transparent cabinet with customizable RGB ambient lighting, it seamlessly blends aesthetics with powerful 7.1 surround sound. Whether you’re gaming, watching movies, or listening to music, its versatile connectivity options and finely tuned sound modes ensure an optimized experience for every moment.

Edifier G2000 Pro Splendid 2.0 Gaming Speakers, Compact Size, Big Soundstage, Panoramic Light-Transparent Enclosure, Virtua 7.1 Surround Sound
Edifier G2000 Pro Splendid 2.0 Gaming Speakers, Compact Size, Big Soundstage, Panoramic Light-Transparent Enclosure, Virtua 7.1 Surround Sound

Compact Design, Perfect for Your Tabletop Setup

With a base width roughly the size of an adult’s palm, this sleek, space-saving design fits seamlessly into any space. The three-sided panoramic light-transparent adds a premium, atmospheric glow, creating your dream tabletop setup.

7.1 Surround Sound

Enjoy a grand soundstage and powerful, immersive audio with 7.1 surround sound powered by the DSP chip and HECATE Gaming Center software, that brings your games, music, and movies to life.

High-Quality Sound Unit

Equipped with a 3-inch full-range internal magnetic driver, this system delivers rich audio with 32W output power for crisp highs and deep mids.

TempoFlow™ Lighting Technology, Where Light and Sound Sync Perfectly

The all-new TempoFlow™ dynamic lighting effect technology synchronizes light with sound. The rear lighting design ensures that it enhances the gaming atmosphere without overwhelming your nighttime visual experience—subtle yet impactful, creating an immersive and premium esports vibe.

7 Dynamic Lighting Effects, Illuminate Your Desk with Color

Featuring 7 built-in dynamic lighting modes, customizable via the HECATE Gaming Center software. Break free from dull surroundings and enjoy a vibrant, sound-responsive atmosphere like never before.

Versatile Connection Options

Stay connected your way with Bluetooth 5.4, USB-A & USB-C audio streaming and AUX input—perfectly adaptable to your diverse device needs.

Tailored Sound Modes

Switch effortlessly between Music, Game, and Movie modes, each finely tuned to enhance your listening experience based on various different content.

Price & Availability:

The Edifier G2000 Pro is available for $199.99 at Amazon.com.

About Edifier:

Edifier specializes in the design and manufacture of premium audio solutions that showcase technological innovation and design excellence. Founded in 1996 and headquartered in Beijing, China, Edifier delivers outstanding sound experience through a wide range of audio systems for personal entertainment and professional use. Renowned for its award-winning design philosophy, expertise and innovation in acoustic technology, and superior manufacturing standards, Edifier is one of today’s leading innovators of audio electronics.  

More information about Edifier is available online at www.edifier.com

Cerecin Joins NIHR HealthTech Research Centre in Brain Health as an Industry Partner

DENVER, Aug. 27, 2025 /PRNewswire/ — Cerecin, a global biotech company focused on neurometabolism, is proud to announce its partnership with the NIHR HealthTech Research Centre (HRC) in Brain Health, joining a distinguished group of industry leaders including GE Healthcare, Novo Nordisk, Roche Diagnostics, and Camtech Innovations.

The HRC, based at King’s College London and the South London and Maudsley NHS Foundation Trust, is dedicated to advancing the diagnosis, care, and treatment of dementia through cutting-edge technologies. The Centre will leverage brain scanning, blood sampling, computerized testing, and digital tools to develop more effective and earlier methods of diagnosing dementia, aiming to reduce its societal impact.

Led by Professor Dag Aarsland, Director of the Centre for Healthy Brain Ageing at the Institute of Psychiatry, Psychology and Neuroscience, and Professor Clive Ballard of the University of Exeter, the HRC brings together academic excellence and industry innovation to tackle one of the most pressing challenges in neuroscience.

Commenting on the partnership, Dr. Charles Stacey, President & CEO of Cerecin, said:
“We are excited to join the HRC as an industry partner. King’s College London has a world-class reputation in neuroscience research, and we believe that close collaboration between academia and industry is essential to accelerate innovation and bring impactful solutions to market. We are honored to join other industry leaders in advancing the future of brain health.”

Dr. Richard Siow, Director of Ageing Research at King’s (ARK) and Industry Lead for the NIHR HealthTech Research Centre in Brain Health, added: “We are pleased to welcome Cerecin as an industry partner. Cerecin is at the forefront of neurometabolism, a critical area of neuroscience research with the potential for significant impact to enhance healthy brain ageing. We look forward to working together to explore opportunities across Cerecin’s pipeline and beyond.”

As Cerecin advances the ALTER AD study, its pivotal Phase 3 program in Alzheimer’s disease dementia with lead compound, tricaprilin, the company is actively pursuing strategic partnerships to strengthen its leadership in the field. These collaborations will support the development of both its current pipeline and future innovations, both independently and in concert with other industry leaders.

About Cerecin

Cerecin is a US-based clinical-stage biotechnology company focused on developing drugs that target the metabolic basis of neurological diseases. Cerecin’s development programs leverage its extensive experience in neurology drug development and lipid science. Cerecin is supported by multinational partners; Nestlé, Wilmar and IOI. By combining the deep expertise of its leadership team with a highly differentiated drug development program, Cerecin is becoming a global leader in neurology therapeutics.

Cerecin’s lead compound, tricaprilin, is currently in Phase 3, the ALTER AD study, for mild to moderate Alzheimer’s disease dementia. Tricaprilin enhances ketone production by delivering medium-chain fatty acids directly to hepatic mitochondria, where they are rapidly metabolized to acetyl-CoA. This acetyl-CoA enters the ketogenesis pathway, producing ketone bodies such as β-hydroxybutyrate (BHB), which are transported to extrahepatic tissues, converted back to acetyl-CoA, and utilized in the TCA cycle to generate ATP. This mechanism bypasses impaired glucose metabolism and supports energy production in metabolically compromised cells.

For more information, visit www.cerecin.com or follow us on LinkedIn.

 

PetroChina Drives High Quality Development through Innovation, Maintaining High Operating Results in H1 2025

HONG KONG, Aug. 26, 2025 /PRNewswire/ — PetroChina Company Limited [“PetroChina” or the “Company”, (HKSE: 00857; SSE: 601857)] announced that in the first half of the year, the Company proactively responded to changes in macroscopic environment, coordinated efforts to advance production and operations, technological innovation, marketing, and quality and efficiency improvement. Its oil and gas output maintained steady growth, transformation and upgrading of refining and chemical operations was further propelled, domestic sales of refined products, natural gas, and chemical products maintained growth, new energy, new materials and new businesses developed rapidly, and operating results exceeded expectation. In accordance with IFRS, the Company recorded revenue of RMB 1.5 trillion in the first half of the year. Net profit attributable to owners of the Company reached RMB 84.01 billion. In return for the shareholders, the Board of Directors decided to distribute an interim dividend of RMB 0.22 per share for the first half of 2025, with total dividend payout reaching RMB 40.26 billion, continuing to maintain high in the same period in history.

Results Review

Sustained growth in oil and gas output with accelerated momentum in new energies. The Company vigorously advanced effective exploration, focused on key basins and zones, achieved multiple major breakthroughs and significant discoveries. By adhering to cost-effective development, it optimized capacity‑building deployment, implemented multiple measures to enhance recovery rates, and accelerated construction of the shale oil demonstration zones in Jimsar and Gulong, as well as the E’dong Daning–Jixian coalbed methane demonstration project. The Company actively expanded its overseas oil and gas business, optimized the asset portfolio, strengthened project operation management, and continuously improved investment returns. In the first half of the year, the Company’s oil and gas output grew by 2.0% year-on-year to 924 million BOE, of which the crude oil output edged up 0.3% year-on-year to 476 million barrels, and marketable natural gas output grew by 3.8% year-on-year to 2.68 trillion cubic feet. Oil and gas output reached new record highs for the same period in history. The Company continued to refine the layout of its new energy business, accelerated the construction of key projects including the Tarim Shangku photovoltaic project, Qinghai Golmud wind power and Jilin Ang‘ge wind power. Wind and solar power generation grew by 70.0% year-on-year. The Company advanced CCUS across its entire industry chain by injecting 1.305 million tons of carbon dioxide. The oil, gas, and new energies business achieved an operating profit of RMB 85.69 billion.

Significant progress in refining transformation and upgrading, with accelerating development of new materials business. The Company continued to pursue a high‑end, green, and intelligent development path, advancing refining and chemical structural adjustment and transformation and upgrading. The transformation and upgrading projects of Jilin Petrochemical and Guangxi Petrochemical completed intermediate handover, while the high‑end polyolefin project of Blue Sea New Materials and the second phase of the Dushanzi Petrochemical Tarim Ethane‑to‑Ethylene project progressed actively. The Company optimized crude oil resource allocation, dynamically adjusted product mix, intensified research and development efforts for new products and new materials, and increased production and sales of high‑end, high‑efficiency, high‑value‑added refining and chemical products. The volume of ethylene output and chemical product sales reached record highs for the same period, while market shares of bonded marine fuel, paraffin and other products remained in a leading position. In the first half of the year, the Company processed a total of 690 million barrels of crude oil. The aggregate output of refined products reached 59.572  million tons, and the  chemical commodity products reached 19.971 million tons, up by 4.9% year-on-year. New materials output reached 1.665 million tons, up by 54.9% year‑on‑year and marking the third consecutive year of over 50% high‑speed growth. The refining, chemicals and new materials business generated an operating profit of RMB 11.06 billion.

Marketing business expanded channels and improved efficiency, with market share rising steadily. The Company strengthened market quantitative analysis and implemented differentiated marketing strategies by products, regions, and customers, achieving a 0.3% growth in domestic refined products sales and a 1.5 percentage point increase in market share. The Company actively advanced the deployment of LNG terminal refueling and battery charging & swapping businesses, with LNG refueling volumes and battery charging & swapping volumes both recording significant increases. The Company actively expanded non‑fuel business and achieved steady growth in efficiency. The Company continued to improve global trade network, leveraged both domestic and international markets and resources to help reduce costs and enhance efficiency across the value chain. In the first half of the year, the Company sold 77.831 million tons of refined products. Automotive LNG sales grew by 58.9% year‑on‑year, battery charging and swapping volume surged 213% year-on-year, and non‑fuel business profit increased 5.5% year‑on‑year. The marketing business achieved an operating profit of RMB 7.56 billion.

Natural gas marketing business coordinated resources and the market, achieving simultaneous growth in volume and efficiency. The Company continued to optimize the structure of its resource portfolio and overall procurement costs, and enhanced market competitiveness. Adhering to an integrated wholesale‑and‑retail marketing approach, the Company actively expanded direct‑sales and industrial customer base, striving to increase the proportion of sales to high‑efficiency markets and high‑end customers. In the first half of the year, the Company sold 151.50 billion cubic meters of natural gas, increased by 2.9% year-on-year. Domestic natural gas sales reached 119.77 billion cubic meters, representing a year‑on‑year growth of 4.2% and setting a new record high for the same period with market share rising by 2.1 percentage points. The natural gas marketing business generated an operating profit of RMB 18.63 billion.

Technological innovation empowered development, continuously strengthening core competitiveness. The Company strengthened innovation‑driven leadership, taking innovation as the primary development strategy, developing new quality productive forces in light of local conditions, deepening reform of the system and mechanism for scientific and technological innovation, and empowering the Company’s high‑quality development. The Company accelerated the transformation and upgrading of traditional industries, enhancing the core competitiveness of its main oil and gas business, actively cultivated emerging industries to create a “second growth curve” and made forward‑looking plans for future industries to build a “third growth curve”. Focusing on key areas such as oil and gas exploration and development, refining and petrochemicals, and new energy & new materials, the Company accelerated breakthroughs in key technologies, and promoted the rapid conversion of scientific and technological achievements into real productive forces. The “Digital‑Intelligent Transformation” strategic initiative has been vigorously implemented to advance the deep integration of digital‑intelligent technology with the energy industry, and foster synergistic development between industrial digitalization and digital industrialization, achieving continuous improvement in efficiency and effectiveness across the entire industry chain.

Outlook

Looking ahead into the second half of the year, the Company will closely monitor changes in both domestic and international markets, strengthen analysis and assessment of market conditions, adhere to innovation‑driven leadership, and promote the high‑quality development of all business segments. The Company will strive to fully achieve the annual production and operation targets, successfully conclude “the 14th Five‑Year Plan” period, and deliver outstanding results to reward shareholders and give back to society.

Additional information on PetroChina is available at the Company’s website: http://www.petrochina.com.cn 

VAC and Torngat Metals Announce Strategic Partnership to Strengthen Rare Earth Supply Chain

HANAU, GERMANY – Newsaktuell – 26 August 2025 – VACUUMSCHMELZE (VAC), a global leader in the production of rare earth permanent magnets and Torngat Metals, a Quebec-based rare earths development company, have signed a non-binding Memorandum of Understanding (MOU) to pursue an offtake agreement for Torngat Metals to supply VAC with long-term security of fully traceable and responsibly produced separated rare earth oxides.

The MOU was signed in Berlin today by Yves Leduc, CEO of Torngat Metals, and Erik Eschen, CEO of VAC, in the presence of Germany’s Minister for Economic Affairs and Energy Katherina Reiche and Canada’s Minister of Energy and Natural Resources Tim Hodgson. This strategic move underscores Canada and Germany’s bilateral collaboration in the area of critical minerals. Both countries are seeking to address the global heavy rare earths crisis while establishing a permanent magnet supply chain independent from China.

By joining forces with VAC, Torngat Metals is reinforcing its position as a reliable partner within the permanent magnet supply chain. Once in operation, the company’s Strange Lake project will be uniquely positioned to ensure long-term supply security for the full suite of light and heavy rare earth oxides needed for permanent magnets.

“As the sole Western producer of sintered rare earth permanent magnets, VAC is at the forefront of securing a diverse and resilient supply chain for critical raw materials. The company is expanding our global capacities and moving upstream into strip casting and metal making, strengthening every stage of production. Ensuring reliable access to terbium (Tb) and dysprosium (Dy) – elements essential to high-performance magnets is the final step, and one that we are achieving through our strategic partnership with Torngat. This commitment is essential to reinforce VAC’s strategic position and bolster the industrial base. In doing so also, we can enhance the national security of our allied nations by ensuring continuous availability of technology critical to our collective defense.” said Erik Eschen, CEO of VAC.

“This MOU highlights our progress – not only in advancing project development, but also in forging the partnerships needed to build a resilient and diversified supply chain for rare earth permanent magnets,” said Yves Leduc, CEO of Torngat Metals. “These critical minerals are central to advanced clean energy technologies, and we look forward to working with VAC to play a leading role in driving the transition.”

“The partnership between Torngat Metals and VAC marks a significant step forward in Canada’s efforts to build a secure and sustainable supply chain for rare earth elements. By advancing responsible development at Strange Lake and forging international collaboration with a global leader like VAC, Torngat is helping to position Canada as a key contributor to the permanent magnet supply chain, and an energy and critical mineral superpower. This agreement reflects our shared commitment with Germany to reduce reliance on single-source supply chains and strengthen the resilience of critical mineral access worldwide,” said Tim Hodgson, Canada’s Minister of Energy and Natural Resources.

Hashtag: #VAC

The issuer is solely responsible for the content of this announcement.

About Vacuumschmelze

VACUUMSCHMELZE (VAC) is a leading global producer of advanced magnetic solutions, rare earth permanent magnets, and inductive components. With extensive application know-how and 100 years of experience in material science and product development, VAC designs and manufactures mission critical solutions for a wide variety of industries, including renewable energy, e-mobility, automotive, industrial automation, medical, aerospace. VAC’s unique ability to develop and manufacture from base elements through final products enables us to provide customers optimal form factors and performance, generating best in class efficient solutions in an environmentally conscious manner. More information is available at . VAC is a portfolio company of Ara Partners, a global private equity firm that is decarbonizing the industrial economy.

About Torngat Metals Ltd.

Torngat Metals is a private company based in Canada working to develop the Strange Lake Rare Earth Project to responsibly supply rare earth elements required for high-tech and low-carbon solutions. With development activities in Quebec, Newfoundland, and Labrador, the company aims to be a globally recognized supplier of light rare earths and a global leader in solving the heavy rare earth supply crisis for dysprosium and terbium. Leveraging robust partnerships with Indigenous peoples and local communities, new approaches to minimizing environmental impacts, and cutting-edge engineering, Torngat Metals looks forward to playing a pivotal role in the global transition to clean energy. Learn more at .