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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":703,"relatedVideos":704},112471486782055,"58ca3f7f-a0ae-41a9-94ee-f1ed1b0eeadd","China’s proposed export ban could threaten rare earth producer JL Mag’s Mexico recycling plant","chinas-proposed-export-ban-could-threaten-rare-earth-producer-jl-mags-mexico-recycling-plant","article/chinas-proposed-export-ban-could-threaten-rare-earth-producer-jl-mags-mexico-recycling-plant",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":673,"featured":51,"reporter":674,"_editable":678,"component":679,"seo_title":543,"categories":680,"visibility":695,"author_company":49,"featured_image":696,"seo_description":673,"author_full_name":49,"author_job_title":49,"formattedDate":701,"formattedArticleDate":702},"b2fa4026-0029-4f11-91a6-bddb6c1794d6","2023-04-20 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"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":564,"content":565},"doc",[566,573,578,583,588,593,598,603,608,613,618,623,628,633,638,643,648,653,658,663,668],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Rare earth producer JL Mag’s plans to build a $100m recycling plant in Mexico may be threatened by a proposed ban on exporting certain magnet technologies out of China.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"The Ganzhou, southeastern Jiangxi province-headquartered firm said last September it will construct a facility in Monterrey, Nuevo León state to process waste neodymium (NdFeB) magnetic material. It expects the volume of waste neodymium to increase globally as demand for rare earth permanent magnetic materials grows.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"text":582,"type":572},"Rare earth magnets are permanent magnets made from rare earth alloys.",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"The plant, which would be first built by a Chinese rare earth producer outside of China, will have an annual recycling capacity of 5,000 tons of scrap alloy and a production output of 3,000 tons of high-performance neodymium magnet products a year, according to the company. ",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"Construction is planned to be completed in 2025. JL Mag has established a wholly-owned subsidiary in Monterrey that has been operational since 13 January, according to its end of year earnings report. ",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"However, as demand grows for rare-earth metals, used in electric cars, wind turbines and other machinery, China is looking to continue to dominate processing by maintaining its technological advantage.",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"In the fourth quarter of 2022, the country accounted for 68% of rare earth mining and 94% of downstream processing according to Benchmark’s analysis. Minimal amounts of materials were processed elsewhere, principally in Malaysia and Estonia. Japan leads in making high-performance magnets from rare earths outside of China. ",{"type":567,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":572},"Diversifying rare earths supply chains ",{"type":567,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":572},"The US produces products that use rare earth magnets, such as electric motors, robots, aeroplanes, and mobile phones. It is looking to create a supply chain for rare earth metals within its sphere of influence, and preferably within its borders. ",{"type":567,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":572},"The US’s single rare earth producer, MP Materials, was up until recently selling its concentrate to China, but is due to start processing its own material. Last year they produced north of 40,000 tonnes of rare earth oxide.",{"type":567,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":572},"The US Department of Defense has awarded two high-profile contracts to MP Materials and Lynas Rare Earths, at $35 million and $120 million respectively, to expand rare earth oxide (REO) separation capacity. Additionally, bill H.R. 5033 proposes to support magnet producers in the US to help them compete with their Chinese counterparts. In the long term, Benchmark forecasts active production from multiple REPM facilities in the US, notably by MP Materials in Texas and USA Rare Earths in Oklahoma. ",{"type":567,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":572},"A more diversified and regionally scaled rare earth processing market will begin to take shape after 2025, particularly in Europe, North America and Australia, according to Benchmark forecasts. ",{"type":567,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":572},"On Tuesday, Canada-based rare earth producer Neo Performance Materials, announced it bought the controlling interest in SG Technologies, a European manufacturer of rare-earth-based and other high-performance magnets. Neo plans to begin sintered rare earth magnet manufacturing in Estonia in 2025.",{"type":567,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":572},"However, environmental protections and economic concerns, such as high capex requirements and low Chinese costs, together with considerable project lead times, may impact capacity addition.",{"type":567,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":572},"These developments may have prompted China to update its technology export restriction list, which was last amended in 2020. In 2010, China blocked the export of rare earth metals to Japan because of a dispute over the Senkaku Islands.",{"type":567,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":572},"The amendments, which could be finalised this year, would ban or limit exports of technology to process and refine rare-earth elements. Alloy tech for making high-performance magnets derived from rare earths is also expected to be included in the ban.",{"type":567,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":572},"“The impact of the ban is of course dependent on the exact wording of the legislation that may come into force, but it is important to keep the structure of the global magnet market in consideration,” said Benchmark analyst Daan De Jonge.",{"type":567,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":572},"“Although specialist vacuum-sintering and other magnet production equipment will likely be the focus of these export restrictions, these are readily available elsewhere. The concern surrounding the ban is therefore regarding its impact on the spread of the intellectual property itself.",{"type":567,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":572},"“Banning the export of specific intellectual property would seriously complicate investments by Chinese magnet manufacturers outside of China if they look to maintain top-of-the-line manufacturing methods and standards.”",{"type":567,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":572},"JL Mag’s high-performance neodymium magnet materials are mainly used in electric vehicles, permanent magnet wind motors and energy-saving inverter air conditioners.",{"type":567,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":572},"“The Company plans to expand its global footprint and grasp the strategic opportunity period of upward development of the industry to proactively lay out its business in overseas markets,” it said in its 2022 earnings report.","Rare earth producer JL Mag’s plans to build a $100m recycling plant in Mexico may be threatened by a proposed ban on exporting certain magnet technologies out of China. The Ganzhou, southeastern Jiangxi province-headquartered firm said last September it will construct a facility in Monterrey, Nuevo León state to process waste neodymium (NdFeB) magnetic material. 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