Rare Earths

Rare Earths

REE Industry and Markets

Sheerartar stands at the forefront of this rapidly expanding market with a strategically located and highly promising Rare Earth project and significant greenfield exploration areas.

Rare Earth Elements are crucial components in a number of cutting-edge technologies, including smartphones, electric vehicles, wind turbines and other renewable energy systems, as well as advanced defence equipment.  As the demand for these technologies grows, so does the need for a stable and reliable supply of Rare Earth Elements.

With modern technologies and the move to decarbonisation, Rare Earths have become of global significance in recent times and have become essential to modern day living and continued advancement of new technologies.

REE’s consist of 17 elements, being scandium, yttrium and the lanthanide elements and are regarded as strategic minerals with over 60% of world production currently coming from China. 

Applications

Source: Adapted form Rare Earth Elements usage in various technologies (http://www.eurare.eu/RareEarthElements.html)

Supply

  1. Highly concentrated supply – with over 60% of world production coming from China – particularly from a China state-owned iron ore mine (China Northern Rare Earth Group High-Tech Co. Ltd ) in Inner Mongolia

  2. The US imports close to 80% of its rare earths to meet domestic requirements

Demand

Demand forecasts highlight the Sustainable Development Scenario under which:

Accelerated growth is driven by decarbonisation:

  1. EV space: Every EV uses around 1kg of REE – 15% CAGR 2020 to 2040
  2. Turbine space: Every Turbine use around 300kg of REE) – 6% CAGR for the same period