Megawatt to accelerate developing prime Australian Rare Earth Projects
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VANCOUVER, BC, May 12, 2021 /PRNewswire/ - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTC: WALRF) (the Company or Megawatt ) is pleased to announce it is moving forward with a rare earth element (REE) sampling program at the recently acquired Arctic Fox and Isbjorn properties in Northern Territory, Australia (see April 14, 2021 press release). The decision to accelerate development plans for the REE properties is based on market intelligence indicating potential impending global REE supply shortages over the next decade, arising from green stimulus and rapid take up of electric vehicles (EV) propelling demand. Notably, key REEs in demand are neodymium and praseodymium which are prevalent across the region where Megawatt s properties are located in the Northern Territory.
Magnet rare earth oxides market to increase fivefold by 2030 report
Steel powder on magnet.
(Reference image by Aney, Wikimedia Commons).
A new report by Adamas Intelligence states that the market for magnet rare earth oxides is expected to increase fivefold by 2030 to $15.65 billion from the current $2.98 billion.
According to the analyst, underpinning this growth are both total magnet rare earth oxide demand, which is forecasted to increase at a compound annual growth rate of 9.7%, and prices, which are projected to increase at CAGRs of 5.6% to 9.9% over the same period.
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Shortages in raw materials are also expected to play a role in the performance of the rare earth oxide market.
Adamas: Tesla Consumed More Lithium Than Next 4 Brands Combined
May 07, 2021 at 9:47am ET ++ Tesla is the largest consumer of lithium for EV batteries.
Tesla was the largest electric car manufacturer in 2020, which directly translates to the level of consumption of key elements for batteries, like lithium (especially that Tesla s EV batteries are usually 50-100 kWh per pack).
According to the latest report from
Adamas Intelligence, in 2020 Tesla deployed
18,700
tonnes of Lithium carbonate equivalent (“LCE”) onto roads globally in the batteries of its newly sold passenger EVs.
The company estimates that it s more than the next four brands (BYD, VW, Renault and Audi) combined! Compared to automotive groups, Tesla is ahead of Volkswagen Group and BYD combined.
Tesla Consumes More Lithium Than The Next Four Bands Combined!
Views : 1,424 | Category: New Cars | Source: | SOURCE: insideevs.com
SHARE THIS ARTICLE Tesla was the largest electric car manufacturer in 2020, which directly translates to the level of consumption of key elements for batteries, like lithium (especially that Tesla s EV batteries are usually 50-100 kWh per pack).
According to the latest report from Adamas Intelligence, in 2020 Tesla deployed 18,700 tonnes of Lithium carbonate equivalent (“LCE”) onto roads globally in the batteries of its newly sold passenger EVs.
A neodymium magnet on a wooden background. Credit: sakhorn38/iStock.
A new report by Adamas Intelligence forecasts that the market for magnet rare earth oxides will increase fivefold by 2030 to US$15.65 billion from the current US$2.98 billion.
Underpinning this growth is total magnet rare earth oxide demand, which is forecast to increase at a compound annual growth rate of 9.7%, and prices, which are projected to increase at CAGRs of 5.6% to 9.9% over the same period.
Shortages in raw materials are also expected to play a role in the rare earth oxide market, the report says.
“Constrained by a lack of new primary and secondary supply sources from 2022 onward, Adamas Intelligence forecasts that global shortages of neodymium (Nd), praseodymium (Pr) and didymium (Dy) oxide (or oxide equivalent) will collectively rise to 16,000 tonnes in 2030, an amount equal to roughly three-times Lynas Corporation’s annual output, or three-times MP Materials’ annual output, of neodymium and