Schneider Electric and Torngat Metals Partner to Build a Strategic Critical Minerals Value Chain

Memorandum of Understanding outlining a 360° partnership linking resource development, industrial technology and downstream demand

MILTON, Ontario--(BUSINESS WIRE)--Schneider Electric and Torngat Metals today announced the signature of a non-binding Memorandum of Understanding (MOU) to explore a strategic industrial partnership to support the development of a resilient and responsible rare earth value chain.

The partnership is anchored in the development of the Strange Lake rare earth project in Nunavik, with associated infrastructure in Labrador and a planned separation facility in Sept-Îles. It is designed to support an integrated, end-to-end collaboration, connecting upstream resource development, technology integration, and future industrial demand.

The MOU is intended to support the development of a 360° partnership, with a dual objective:

• To support the development of a next-generation mining and processing project, leveraging Schneider Electric’s expertise in electrification, automation, digital systems and sustainable industrial design
• To strengthen Schneider Electric’s long-term supply chain resilience, through access to a more secure, responsible and compliant rare earth and magnet ecosystem for strategic applications

The Strange Lake project is expected to produce both heavy and light rare earth elements essential to permanent magnets used in renewable energy, digital infrastructure, and advanced manufacturing.

This makes the future collaboration more than a project support arrangement — it represents a concrete step toward a trusted, end-to-end critical minerals value chain.

"This partnership reflects a clear reality: the energy transition depends not only on technology, but on secure and responsible access to critical materials," said Frederick Morency, VP, Sustainability, Strategic Initiatives & Innovation for Schneider Electric Canada. "With Torngat Metals, we are aiming for a fully integrated approach, from resource to industrial use, that strengthens both project development and long-term supply resilience. It is a concrete example of how industrial players can come together to build trusted supply chains."

The MOU was signed in Paris on the margins of the High-Level Meeting on Financing Critical Minerals Supply Chains in G7 and Like-Minded Countries. The announcement was made in the presence of Sébastien Martin, French Minister Delegate for Industry, and Isabella Chan, Senior Assistant Deputy Minister at Natural Resources Canada and Canada's Special Envoy for the Critical Minerals Production Alliance.

"Strange Lake is designed to become a key player in building a resilient and responsible rare earth supply chain," said Maryse Bélanger, Interim Chief Executive Director and President of the Board, Torngat Metals. "Working with Schneider Electric will enable us to integrate world-class industrial technology designed with sustainability in mind in our future operations, while connecting our project to real downstream demand. This is an opportunity to build not just a mine, but a complete, future-ready value chain."

"This partnership illustrates how we collaborate with our strategic partners, sharing our advanced energy technologies to enable more sustainable and efficient processes," said Stéphane Piat, SVP, Global Supply Chain Strategy & Performance, Schneider Electric. "Torngat Metals supports our resilience strategy by securing the availability of the critical materials essential to an antifragile supply chain."

By embedding sustainability, efficiency and digital performance across the project lifecycle, from design through operations, the partnership aims to set new standards for responsible resource development.

About Schneider Electric

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory. With 160,000 employees and one million partners in over 100 countries, Schneider Electric is consistently ranked among the world's most sustainable companies. www.se.com/ca/en/

About Torngat Metals Ltd.

Torngat Metals is a privately held Canadian company working to develop the Strange Lake project and supply responsibly produced rare earth elements used in high-technology and low-carbon-emission solutions. With operations in Quebec, as well as in Newfoundland and Labrador, the company aims to become an internationally recognized source of light rare earths and a world leader in resolving the heavy rare earths supply crisis, particularly dysprosium and terbium. Seeking to build solid partnerships with Inuit, First Nations and local communities, complemented by state-of-the-art engineering and new approaches to minimizing environmental impacts, Torngat Metals continues to play a key role in the global transition to clean energy. Learn more at www.torngatmetals.com.