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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":733,"relatedVideos":734},112470753405068,"39fc5572-e522-47a4-9cdc-44bca5529b67","Asian rare earth supply uncertainties strengthen case for Western capacity","asian-rare-earth-supply-uncertainties-strengthen-case-for-western-capacity","article/asian-rare-earth-supply-uncertainties-strengthen-case-for-western-capacity",{"_uid":547,"date":548,"tags":549,"editor":565,"content":575,"excerpt":708,"featured":51,"reporter":709,"_editable":713,"component":714,"seo_title":543,"categories":715,"visibility":724,"author_company":49,"featured_image":725,"seo_description":708,"author_full_name":49,"author_job_title":49,"formattedDate":731,"formattedArticleDate":732},"3099cdd5-7e66-404d-8c0a-98668299dafc","2023-09-21 00:00",[550,553,556,559,562],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"export-restrictions","Export restrictions",{"slug":557,"name":558},"malaysia","Malaysia",{"slug":560,"name":561},"myanmar","Myanmar",{"slug":563,"name":564},"usa","USA",[566],{"slug":567,"name":568,"content":569},"didi-bostock","Didi Bostock",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Editor - Energy Transition & Economics",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":576,"content":577},"doc",[578,593,598,603,608,613,618,631,636,641,646,651,658,663,668,673,678,683,688,693,698,703],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582,591],{"text":583,"type":584,"marks":585},"Rare earth","text",[586],{"type":587,"attrs":588},"link",{"href":589,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://www.benchmarkminerals.com/forecasts/rare-earths/reports/","url",{"text":592,"type":584}," mining suspensions in Myanmar and news of potential Malaysian export restrictions have highlighted the need for greater Western domestic capacity to shore up supply and ward against price volatility.",{"type":579,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":584},"“These developments underline the structural risks of the rare earths supply chain: with production highly concentrated in a few key regions globally, localised disruptions can trigger significant supply volatility,” said Benchmark analyst Neha Mukherjee. ",{"type":579,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":584},"Pre-inspection shutdowns at mining sites in Kachin state in Myanmar led dysprosium oxide prices to hit their highest levels since May 2022 in September. Terbium oxide also rose to July 2023 levels. ",{"type":579,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":584},"Terbium and dysprosium oxides are made into alloys for neodymium iron boron rare earths permanent magnet (REPMs) used in wind turbines and electric vehicle motors. ",{"type":579,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":584},"Prices for the two metals are highly sensitive to changes in supply from Myanmar, which mines 37% of world supply in dysprosium, according to Benchmark data, second only to China at 57%. ",{"type":579,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":584},"Although the suspensions that began on September 4 were expected to last just ten days, they were still ongoing by September 15. ",{"type":579,"attrs":619,"content":620},{"textAlign":49},[621,623,629],{"text":622,"type":584},"Myanmar’s mines are especially key to China for obtaining terbium and dysprosium metals, two elements that will be of particular concern to the US and Europe as they ",{"text":624,"type":584,"marks":625},"develop domestic capacity",[626],{"type":587,"attrs":627},{"href":628,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/australia-set-for-rare-earths-expansion-as-it-deepens-ties-with-us-to-build-ex-china-supply-chains",{"text":630,"type":584}," independent of Chinese inputs. ",{"type":579,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":584},"China has heavy rare earths reserves of its own but the size of its processing industry means the country relies on supplementary flows from Myanmar. ",{"type":579,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":584},"Western countries lack the substantial heavy rare earth ore reserves of China or southeast Asia but the US is making some progress in developing supply chains independent of these regions.",{"type":579,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":584},"Lynas Rare Earths, USA Rare Earths, and Ucore are now developing heavy rare earths facilities in the US with the plants expected to source ores from Lynas’ mine in Australia, the Roundtop mine in Texas, and the Bokan mine in Alaska. ",{"type":579,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":584},"Australia’s Ionic Rare Earths operates a heavy rare earths processing facility in Belfast using recycled materials and has plans to source ore from the Makuutu mine in Uganda currently under development.  ",{"type":652,"attrs":653,"content":655},"heading",{"level":654,"textAlign":49},4,[656],{"text":657,"type":584},"Malaysia mulls restrictions ",{"type":579,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":584},"The Myanmar supply disruption is expected to be temporary and unlikely to affect the global market balance of these metals in 2023, however.",{"type":579,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":584},"Still, a longer term potential supply impact could come from Malaysia after the government said this month it planned to restrict rare earth exports.",{"type":579,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":584},"Malaysia has not specified whether ore or processed oxides will be covered. However, any restrictions could well target the latter, as processing dominates Malaysia’s rare earth industry.",{"type":579,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":584},"“This is a signal that more processing facilities should be developed, especially in Australia and the US, because after China these are the two countries that are the biggest mining facilities of rare earth minerals,” Mukherjee said. ",{"type":579,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":584},"President of Malaysia Anwar Ibrahim said that his government would develop a new National Mineral Policy that would limit rare earth raw materials exports to “promote the country’s raw material processing industry and bring extra income to the country” as well as foster sustainable mining. ",{"type":579,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":584},"Rare earth chemicals production rather than mining is the focal point of Malaysian rare earths industry, with the country on track to supply 6.6% of the world’s total rare earth oxides in 2023. ",{"type":579,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":584},"Most Malaysian rare earths processing capacity is owned by Australian producer Lynas at Kuantan. ",{"type":579,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":584},"“Export restrictions would be practically meaningless if Kuantan output is not considered,” Mukherjee said.",{"type":579,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":584},"Lynas is a strategically vital producer for the US and EU for being one of the very few non-Chinese rare earth miners and processors globally, meaning that a ban on chemicals export could pose risks for the US’ emerging magnet manufacturing industry. ",{"type":579,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":584},"“Lynas is working on the setup of processing facilities in Texas and Kalgoorlie to ensure their supply chain is not affected because of Kuantan,” said Mukherjee. ","Rare earth mining suspensions in Myanmar and news of potential Malaysian export restrictions have highlighted the need for greater Western domestic capacity to shore up supply and ward against price volatility. “These developments underline the structural risks of the rare earths supply chain: with production highly concentrated in a few key regions globally, localised disruptions […]",[710],{"slug":567,"name":568,"content":711},{"job_title":570,"image":712,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3099cdd5-7e66-404d-8c0a-98668299dafc\", \"id\": \"\"}-->","article",[716,719,722],{"slug":717,"name":718},"critical-minerals","Critical Minerals",{"slug":720,"name":721},"new-energy","New Energy",{"slug":723,"name":414},"rare-earths","private",{"id":49,"alt":726,"name":727,"focus":727,"title":726,"source":727,"filename":728,"copyright":727,"fieldtype":729,"meta_data":730,"is_external_url":51},"Members of an IAEA international expert team visit Lynas rare earth processing facility near Kuantan in Malaysia on 14 October 2014.","","https://a.storyblok.com/f/287943243085208/6da84115c3/bm-15363789930-baf8135fd2-o.jpg","asset",{"alt":726,"title":726,"source":727,"copyright":727},"Sep 21, 2023","21st September 2023",[],[],1781615407315]