By Ernest Scheyder (Reuters) - The Biden administration's plan to rely on ally nations for most of the metals needed to build electric vehicles ignore.
By Ernest Scheyder
(Reuters) – The Biden administration’s plan to rely on ally nations for most of the metals needed to build electric vehicles ignores the complexity of modern mining and could keep the United States from meeting aggressive climate goals, according to industry executives.
Reuters reported on Tuesday that President Joe Biden plans to look abroad for most supplies of EV metals and focus on domestic processing into battery parts, part of a strategy designed to placate environmentalists and counter to a private commitment to miners last autumn to allow more domestic mining.
“The approach is deeply naive and very dangerous to the United States supply chain for electric vehicles,” said James Calaway, chairman of ioneer Ltd, which is developing the Rhyolite Ridge lithium project in Nevada.
USA Rare Earth exercises option to pick 80% stake in Round Top project 21 May 2021 (Last Updated May 21st, 2021 15:08)
As per the deal signed in 2019, USA Rare Earth has exercised its option to acquire an 80% stake in the Round Top project in the US.
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USA Rare Earth has exercised its option to acquire 80% of the Round Top heavy rare earth project in Texas, US.
The option has been exercised in accordance with the terms of the amended and restated option agreement signed with Texas Mineral Resources (TMRC) in 2019.
Additionally, USA Rare Earth raised $50m in a Series C funding round.
TMRC consortium awarded second phase of DOE contract targeting production of mixed rare earth oxides from PA coal waste
Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths and a variety of other high-value critical elements and industrial minerals, announced that the Department of Energy’s (DOE) National Energy Technical Laboratory (NETL) has selected a TMRC-led consortium to continue a contract targeting the production of rare earths from Pennsylvania coal waste.
This contract option continues the successful completion of the first phase of a DOE solicitation award in September 2020. The award value is approximately $1.1 million.
TMRC’s project partners include Penn State, Jeddo Coal Company and McCarl’s. The Texas Mineral Resources consortium objective is to install a self-contained, modular and portable pilot plant at a Jeddo Coal Pennsylvania site, capable of producing 1-3 metric tons of rare earth oxides derived from coal waste
The permanent magnet motor market was valued at USD 30.11 billion in 2020 and expected to reach USD 50.27 billion by 2026 and grow at a CAGR of 9.21% over the forecast period (2021 - 2026)
Permanent magnet motor (PMM) is witnessing a significant increase in demand due to its high efficiency and throughput. These motors cover a wide range of applications, from stepping motors for wristwatches and industrial drives for machine tools, to large PM synchronous motors for ship propulsion.
May 05, 2021 09:55 ET | Source: ReportLinker ReportLinker Lyon, FRANCE
New York, May 05, 2021 (GLOBE NEWSWIRE) Reportlinker.com announces the release of the report Permanent Magnet Motor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026) - https://www.reportlinker.com/p06067768/?utm source=GNW