General Motors Terminates Rare-Earth Magnet Supply Agreement with e-VAC Magnetics

General Motors has terminated its long-term rare-earth magnet supply agreement with e-VAC Magnetics, effective July 1. In response, e-VAC Magnetics has initiated arbitration proceedings to seek payments for the remainder of the contract. The termination was disclosed by Energy Fuels, which is in the process of acquiring VAC, and the arbitration's outcome may affect the final purchase price for e-VAC Magnetics.