Safran Seeks Alternative Rare Earth Suppliers Amid Geopolitical Tensions — Update

By Cristina Gallardo French aircraft-engine maker Safran said it is stocking up on rare earths and looking for alternative suppliers to protect the company from what its chief executive called a weaponization of the critical materials. Concerns over the supply of rare-earth elements–needed in products ranging from fifth-generation fighter jets to submarines, radars and electrical motors–have risen among defense manufacturers in recent years as the critical materials landed on the frontline of trade battles. Safran Chief Executive Olivier Andries said in a call with analysts Friday that the company wants to find alternative suppliers of rare earths, which he said…