Miners are seeking to take advantage of a jump in the prices of many rare earth elements, needed for permanent magnets used in low-carbon technologies as well as myriad other applications such as weapons systems.
The rally has been driven by surging demand for electric vehicles as well as concerns that Beijing may restrict sales.
Below are some rare earth projects being developed around the world outside China, which accounts for about 90% of output, as Western nations seek to diversify supply.
ANGOLA
Longonjo – Pensana expects to start construction this year on a mine to produce 4,500 tonnes a year of neodymium-praseodymium oxides. It also plans to build a separation processing plant in the UK.
Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The Company’s flagship assets are the Saltend rare earth refinery project in the United Kingdom and Longonjo neodymium and praseodymium (NdPr) Project in Angola.
