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Magnet rare earth oxide market to increase fivefold by 2030 - report

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

Energy transition may trigger a minerals version of OPEC

Energy transition may trigger a minerals version of OPEC Share Geopolitical power could shift from oil-dominated countries to those that produce the critical minerals that will underpin the switch to clean energy, according to KPMG, which urges advocates of the energy transition to co-operate with the mining industry. Just as the Organisation of Petroleum Exporting Countries collaborated on oil supply to force up prices and punish diplomatic opponents in the 1970s, KPMG’s global head of mining Trevor Hart said the world could see a critical minerals equivalent he dubbed OMEC. Minerals such as lithium, graphite, vanadium, cobalt and indium were cited by KPMG as being critical to the energy transition. Copper, nickel and rare earths are also viewed by most pundits as being needed for renewable energy infrastructure and batteries.

Marvel Discovery Corp Acquires Rare Metal Project, Northeast British Columbia

Marvel Discovery Corp Acquires Rare Metal Project, Northeast British Columbia
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Press Release - MINING COM

Press Release - MINING COM
mining.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mining.com Daily Mail and Mail on Sunday newspapers.

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