Rare Earth Elements to make a strong comeback

After a minor setback in 2020 due to disruptions arising from COVID-19, the rare earth elements market is expected to see a solid recovery in 2021, principally supported by activities by several national governments and global bodies to mitigate carbon emissions, says Beroe Inc

The demand for rare earth elements (REE) is expected to remain constant in the short run as many rare earth mining companies will hold a vigilant stance to grab market share in the upcoming year-end holidays. The rare earth industry is expected to record a CAGR of 7.5 percent during the forecast period of 2021-2026. The COVID-19 pandemic has impacted the rare earth elements industry to a great extent. During COVID-19, Chinese productions of rare earth saw a descent. Later in the year 2020, when the situation gradually stabilized, the rare earth metals market finally rebounded.

Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The company is looking to establish the world’s first fully sustainable magnet metal rare earth oxide producer at the Saltend Chemicals Park in the Humber Local Enterprise Partnership Yorkshire, UK.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Pensana plc

More articles like this

Pensana plc

US grant boosts Angola’s critical mineral sector

A recent statement from the White House has brought attention to the US$ 3.4 million technical assistance grant provided to Pensana in October. This grant is aimed at expanding the company’s mining operations, with a focus

Pensana plc

Advancing global climate and energy solutions

The U.S. International Development Finance Corporation (DFC) has announced over $3.7 billion in climate finance investments for Fiscal Year 2024, marking a significant stride in addressing global climate and energy challenges. This commitment underscores the U.S.

Pensana plc

Leading sustainable rare earth supply in Europe

Leading sustainable rare earth supply in Europe The rare earth elements (REE) sector has emerged as one of the most strategically important industries in today’s global economy. As critical inputs for modern technology, these elements play

Pensana plc

Industrial uses and global production of Rare Earth Elements

Rare earth elements, a group of 17 metallic elements, possess unique magnetic, luminescent, and electrical properties that make them valuable for various industrial uses. Despite the presence of these elements in mineral ores worldwide, their production

Pensana plc

Rare Earth Elements in high-tech and energy devices

Rare-earth elements (REEs) play a critical role in a range of high-tech devices, from smartphones and digital cameras to computer hard disks and electronic displays. They are also vital to clean energy initiatives and defence technologies,

Pensana plc

The unique qualities and future potential of Rare-Earth Elements

The unique properties of rare-earth elements (REEs) make them critical to many high-tech applications. Despite the misleading name, these elements are not particularly scarce in the Earth’s crust, though they are typically found in low concentrations.