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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...

Adamas: Tesla consumed more lithium than next four EV makers combined in 2020 In 2020, Tesla deployed 18,700 tonnes of LCE onto roads globally in the batteries of its newly sold passenger EVs, more than the next four EV makers (BYD, VW, Renault and Audi) combined, according to data from Adamas Intelligence’s EV Battery Capacity and Battery Metals Tracker. In total, 67% of Tesla’s lithium consumption last year was for the Model 3, 17% for the Model Y and the remaining 16% for the Model S and Model X, combined. By region, 47% of Tesla’s lithium consumption in 2020 rolled onto roads in the...

PENSANA PLC Establishing a World-Class Sustainable Supply of critical Rare Earths for the Green economy Pensana Plc (LSE: PRE) (“Pensana” or “the Company”) today announces the Company has adopted a business plan to seek to establish, subject to funding, a world-class, independent and sustainable supply chain of the rare earth metals vital for electric vehicle, wind turbine and other strategic industries. This involves: Pensana’s Chairman, commented: Paul Atherley “Saltend has the potential to become the first major separation facility to be established in over a decade – one of...

Battle for rare earth minerals turns radioactive Greenland has 25pc of the world’s key elements, but fears over uranium has put their mining into the spotlight 17 April 2021 • 3:00pm A quarter of the world’s rare earth materials can be found beneath the southern fjords of Greenland Credit: Getty Overlooking the small fishing town of Narsaq, next to painted houses and slow-moving icebergs, lies one the last great untapped deposits of rare earth materials. About a quarter of the world’s rare earth minerals are thought to be found here, deep in the southern fjords of Greenland, providing...

EV Metal Index doubles year-on-year as lithium, cobalt prices rally Despite a 43% drop from December’s record, largely due to seasonal factors, the January 2021 MINING.COM EV Metal Index, which tracks the value of battery metals in newly registered passenger EVs (including hybrids) around the world, still ranks as the fourth-best month on record. Just over $290.5 million worth of lithium, cobalt, nickel and graphite hit roads in January, up 124.6% from the same month last year, when the global impact of the coronavirus was not yet being felt.  Sign Up for the Battery Metals Digest Sign Up ...