rare earth elements

“There, there's sufficient identified in reserves that we don't actually need new discoveries of it. It's just that most of that is in China or Vietnam.”

“The processing is over 90% done in China, and magnet manufacturing over 95% done in China.”

“And I believe rare earth elements also could be recycled at around 40, 45%, 50%.”

“Supply is a challenge, and it still largely does come from China, which has just recently, actually, a few months ago, instituted a ban on the export of new technologies for extraction and separation of rare earth elements.”

“From volume side, the five or six reverse elements that we use in permanent magnet manufacturing accounts for about 40% of reverse elements. So 40% of reverse elements go into magnets. The other 60% Does not. But here's the interesting thing. From dollar value…”

“Rare earth elements are recycled less than one percent globally. Those are among the least circular metals that we know of out there.”

“Cyclic materials plan is by 2030, 31, 32, we will be recycling around two percent of the world rare earth elements.”

“Reverse elements on themselves are about, in 2024, twenty billion dollars market. But the downstream or the industry they unlock is in trillions of dollars.”

“When we recycle end-of-life products magnets being magnetic attach to steel and travel with steel into steel recycling plants, iron recycling plants. And because of the chemistry in the steel recycling plants, rare earth elements report to a phase or chemistry…”

“So 90% of rare earth elements now are processed and refined in China. And then they go one step ahead again, and they bring in even more material to China, and they manufacture 93% of magnets in China.”

“And the market price for rare earth elements often is artificially controlled by Chinese government.”

“Now, back in December of 2023 they enforced a ban on the export of equipment and technology related to rare earth elements.”

“When we use Rare earth elements in magnets , we end up with the most strong magnets that we are aware of, or we can produce on our planet. And when we use very strong magnets in electric motors, we end up with highest efficiency in those electric motors.”

“China dominates rare earths more than basically any other area of critical minerals, which is saying something because China is pretty dominant in a bunch of areas.”

“There are actually 16 rare earth elements that are grouped together. We really only use four of them, actually. Like, we only care about four of them out of the 16. If you're doing mining, virgin mining, you get this, like, basket of all of them, and you have …”