Rhodia Rare Earth Systems, one of only two rare earths producers in Europe, has entered into a cooperative agreement with French nuclear group Areva, according to AFP. The agreement between the two companies spells out a plan to jointly develop and exploit previously untapped deposits containing a mix of uranium and rare earths elements (REEs).

The announcement comes only days after China once again tightened its rare earths export controls, and a few weeks after Molycorp acquired a majority share in the Estonian company Silmet (the other European rare earths producer besides Rhodia).  Once more, this collaboration illustrates that this isn’t your grandfather’s rare earths sector anymore, as companies and nations will look for innovative ways to react to new economic and geopolitical realities.