What are Rare Earths?
Rare earth elements (REEs) are a group of 17 elements that are essential for a range of high-tech applications, including renewable energy technologies, electric vehicles, and advanced electronics.
REE’s have a wide array of unique properties that relate to magnetism, luminescence, catalysis, and conductivity. As a result, new applications are constantly being developed, with those applications concentrated in advanced, mature markets such as electronics, ceramics, glass making, lighting and metallurgy.
As the world reduces its dependence on fossil fuels through global electrification, rare earth demand is growing rapidly due to the demand for permanent magnets used in applications such as wind turbines and electric vehicle motors. The key 'Magnet Feed' rare earths are Neodymium & Praseodymium (NdPr) used in NdFeB magnets and Dysprosium & Terbium (DyTb) that are essential in the production of high performance permanent magnets used in high temperature operating applications such as Electric Vehicle (EV) drive trains.
Leading consultancy group Project Blue expect that global demand for NdPr oxide will increase by 136% in the next 10 years and that the global demand (outside China) for key heavy rare earths DyTb will outstrip non Chinese supply ninefold, making the western world increasingly dependent upon Chinese production sources and putting Chinese domestic supply under pressure.
Monazite
Monazite is a cerium phosphate mineral that commonly occurs in mineral sands deposits and is a vital source of light rare earths neodymium and praseodymium.
Monazite is
significantly concentrated in the Gippsland, and Murray Basins in
SE Australia but has also been produced historically as a valuable by-product on the West Coast of Australia
Xenotime
Xenotime is a rare and very valuable mineral, rich in heavy rare earths and the most critically sought magnet feed metals dysprosium and terbium.
Xenotime is uniquely concentrated in the Murray Basin and particularly Victoria's Gippsland Basin. Xenotime represents an important environmentally sustainable alternative to heavy rare earths to the ionic clay deposits mined in China and Myanmar.
Titanium Minerals
Titanium-bearing minerals such as Ilmenite, Rutile, and leucoxene are sourced from mineral sands deposits. Over 90% of global supply of titanium minerals are used in the production of titanium pigment for paints, coatings, plastics, and cosmetics due to its bright-white colour, opacity, and UV-resistant properties. Titanium metal is prized for being incredibly light yet strong and corrosion resistant and is used extensively in industrial applications.
Zircon
Zircon is highly valued for its durability, high refractive index, and heat and abrasion resistance.
When finely milled, it is used primarily in ceramics as a highly resistant opacifier.
As a sand material it is used in foundry or refractory applications but is also frequently processed into
zirconium-based chemicals or
zirconium metal.
Critical Minerals for a Sustainable Future.
The importance of rare earths in the production of clean energy technologies cannot be overstated. Rare earth metals are a key component in permanent magnets needed for global electrification and decarbonisation. As the world moves towards net-zero and companies are put under increase pressure to deliver sustainable, environmentally sound operations, a stable supply of vital rare earth elements (REEs)
Most permanent magnets are composed of iron and boron (NdFeB) along with approximately 30% neodymium-praseodymium (NdPr). In addition, lesser quantities of dysprosium and terbium are added to improve the magnets’ ability to maintain magnetism at high temperatures and hence improve the magnets’ performance. Critical applications such as reducing greenhouse emissions are in wind turbines and electric traction motors for electric vehicles (EVs).
Projections suggest the market will remain tight for NdPr supply well into the 2030's with Adamas Intelligence forecasting an 11-fold increase in NdPr consumption by 2035, equating to a 1000% increase in demand from today.
Securing an ethical, economically robust supply chain for these metals has become a focus of governments as geopolitical tensions with China have highlighted the world’s dependence upon China for both supply and processing of rare earths. Despite its vital nature the global supply of REEs is limited, with almost all of the production and downstream processing concentrated in China and Myanmar.
The development of high-quality rare earth resources in jurisdictions such as Australia is a vital step in securing critical strategic metals for technologically advanced industries and establishing a premier, integrated mineral sands processing industry with Darwin at its centre.