Rare Earths

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The Ngualla Project hosts a particularly large and high-grade neodymium (Nd) and praseodymium (Pr) dominant deposit. These are the two critical elements required for permanent rare earth magnets used in electric vehicles and wind turbines.

  • Pr is a soft, silvery, malleable and ductile metal, valued for its magnetic electrical, chemical and optical properties:
    Pr is used in a variety of alloys, notably with Nr to create high powered magnets and also with magnesium for use in aircraft engines
  • Nr is a soft silvery metal that tarnishes in air, is not found naturally in metallic form and is usually refined for general use:
    The most important use for Nr is in an alloy with iron and boron to make very strong permanent magnets
  • Together, NdPr accounts for 80% of the value of the rare earth oxide market (basis December 2021 spot prices)

NdPr Market Demand by Sector in 2020

Source: IMCOA, Macquarie Research, December 2021

NdPr Market Demand by Sector in 2030

Source: Macquarie Research, December 2021
  • Permanent magnets for electric vehicles is the most significant driver of growth for NdPr.
    There are several other key drivers underpinning expected future demand including: offshore wind turbines, conventional automotive parts, inverter air conditioners, white goods and other electronic consumables.
  • China accounts for +60% of total supply for rare earth oxides and almost the entire heavy rare earth separation market. Alternative supply is essential for global supply chain security

The Market - After Litium, Graphite and Cobalt what next? NdPr the next BIG THING.

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