Rare Earths Agreement

By October 3, 2021 Uncategorized No Comments

Unlike resources such as gold, rare earths cannot simply be extracted from the ground and processed immediately. This is because they are present in other non-rare earths. Chinese President Xi Jinping visited a rare earth factory last May, a move widely interpreted as a threat to exports to the United States, which are at their lowest since 2015. Australia and the United States have partnered to find sources of information for critical minerals, including rare earth ores, and reduce their dependence on China, which currently dominates supply and demand. How will the partnership help stimulate the development of new projects and what are the challenges? We make a report. Canada`s Search Minerals (TSXV: SMY) and USA Rare Earth announced Tuesday that they have entered into a technical cooperation framework agreement to regulate the first collaboration to accelerate the development of mineral resources held by each company. The growth of rare terrestrial markets is fueled by rare earth magnets (neo) used in electric motors for electric vehicles and generators in wind turbines. The neomagnets used in these high-temperature applications use alloys such as neodymium, praseodym, dysprosium and terbium. As Professor Dudley J. Kingsnorth, of the Western Australian School of Mines in 2018, said that China`s rare earth production is allocated to six state-owned companies, giving the Chinese government effective control of the sector. Its grip on the group of 17 elements is such that it often keeps prices artificially low, making it difficult for projects outside the country to be economically profitable. Lynas Corp (LYC.

AX) announced Monday that it has signed a contract with the U.S. Department of Defense to begin design work on its gravity rare earth separation system in Texas, for which the Pentagon is providing initial funding. President João Lourenço approved the company`s 35-year mining title for the extraction of rare earths from the Longonjo mine near the Angolan city of Huambo. For Australia, Vernon hopes that this second shock to the market, caused when China said it could limit the supply of rare earths, “reminded us that the mineral supply chain is very fragile.” China`s recent threat to use rare earth exports as leverage in its ongoing trade war with the United States has again heightened concerns about the one-party state`s dominance over several key minerals used in everything from smartphones to electric vehicles. . . .