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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":725,"relatedVideos":726},112468779213656,"93cd75a6-f13f-4346-9966-ed691d69f052","North American rare earth metals projects pave way for magnet manufacturing","north-american-rare-earth-metals-projects-pave-way-for-magnet-manufacturing","article/north-american-rare-earth-metals-projects-pave-way-for-magnet-manufacturing",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":701,"featured":51,"reporter":702,"_editable":706,"component":707,"seo_title":543,"categories":708,"visibility":717,"author_company":49,"featured_image":718,"seo_description":701,"author_full_name":49,"author_job_title":49,"formattedDate":723,"formattedArticleDate":724},"0ab0b34f-2cf7-46c3-9358-9a94e9a7cec8","2024-10-10 00:00",[550,553,556],{"slug":551,"name":552},"mp-materials","MP Materials",{"slug":554,"name":555},"north-america","North America",{"slug":557,"name":558},"saskatchewan-research-council","Saskatchewan Research Council",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"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":570,"content":571},"doc",[572,579,584,589,594,599,604,619,624,631,636,641,646,651,656,661,666,671,676,681,686,691,696],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"Two rare earth metal facilities are set to open this year in the US and Canada, paving the way towards a complete rare earth permanent magnet (REPM) supply chain in North America.","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"Saskatchewan Research Council’s (SRC) metal plant became the first in Canada to enter commercial production last week. ",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587],{"text":588,"type":578},"Meanwhile in Texas, US miner-processor MP materials is constructing the US’ first major rare earths metals facility, scheduled to open later this year.  ",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":578},"“This shows ex-China efforts to build an independent, vertically integrated, and resilient supply chain, from mine to metal, to ensure the downstream supply risk is mitigated,” said senior Benchmark analyst Neha Mukherjee.",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":578},"The US has targeted domestic buildout in the higher-value segments of the REPM supply chain, such as metal and magnets production.",{"type":573,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":578},"MP CFO Ryan Corbett said in a Benchmark webinar that the Texan plant would be a “critical milestone” for the company that would “mark the beginning of commercial [rare earths] metal production in the United States in a way that hasn’t been done in many, many decades.”",{"type":573,"attrs":605,"content":606},{"textAlign":49},[607,609,617],{"text":608,"type":578},"The main application for rare earth metals are in rare earth permanent magnets (REPMs), essential in growth sectors like EVs. Global REPM demand is set to climb 9% compound annual growth rate (CAGR) between now and 2030, driven primarily by the e-mobility and wind energy segments, ",{"text":610,"type":578,"marks":611},"according to Benchmark data",[612],{"type":613,"attrs":614},"link",{"href":615,"uuid":49,"anchor":49,"target":49,"linktype":616},"https://www.benchmarkminerals.com/rare-earths","url",{"text":618,"type":578},".",{"type":573,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":578},"The magnets also have uses in industrial motors and consumer electronics, as well as in lower-volume, high-strategy uses like military aircraft. ",{"type":625,"attrs":626,"content":628},"heading",{"level":627,"textAlign":49},4,[629],{"text":630,"type":578},"The race for the midstream ",{"type":573,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":578},"Without expanding ex-China midstream and downstream capacity, Western-owned rare earths ores and oxides would continue to end up in China for re-export, moving the West’s import dependence down the value chain rather than reducing them.",{"type":573,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":578},"SRC and MP’s metal plants are the first results of an ongoing push to re-establish complete rare earths value chains in North America and among trade partner nations. ",{"type":573,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":578},"The region, alongside Europe, is ramping up investments into capacity for processing rare earth concentrate into oxides, an input for rare earths metals production.",{"type":625,"attrs":647,"content":648},{"level":627,"textAlign":49},[649],{"text":650,"type":578},"Integrating and localising Canada’s rare earths supply chain",{"type":573,"attrs":652,"content":653},{"textAlign":49},[654],{"text":655,"type":578},"In Canada, the newly operational Saskatchewan Research Council Rare Earth Processing facility is aiming for a 40 tonne per month metal production target by the end of this year. ",{"type":573,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":578},"Once fully operational in 2025, it is aiming to produce around 400 tonnes of praseodymium-neodymium (PrNd) metals per year. The plant will also have its own capacity to process rare earth minerals into oxides, inputs for metal production.",{"type":573,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":578},"In terms of raw materials, it has an agreement with the Hung Thinh Group to import rare earth carbonate from Vietnam.",{"type":573,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":578},"Yet the SRC plant also intends to localise raw materials supply. The company has purchased $3 million worth of stockpiled rare earth material from Vital Metals, a Canadian miner.  The Canadian government also gave a CAD$16 million award to help SRC acquire the capability required to convert Vital’s bastaneseite ores for use in oxide and metal manufacturing. ",{"type":573,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":578},"Owner-operator the Saskatchewan Research Council (SRC) was established by the province of Saskatchewan in 1947. Its close ties to the provincial government has afforded it a leading position within local and national policy efforts to localise the Canadian rare earths value chain.",{"type":625,"attrs":677,"content":678},{"level":627,"textAlign":49},[679],{"text":680,"type":578},"MP’s Texan metal-magnet facility",{"type":573,"attrs":682,"content":683},{"textAlign":49},[684],{"text":685,"type":578},"Meanwhile in the US, MP Materials is constructing its own rare earths metals facility in Fort Worth, Texas, which will eventually belong to a fully-integrated metal and magnet facility. ",{"type":573,"attrs":687,"content":688},{"textAlign":49},[689],{"text":690,"type":578},"MP aims to bring its magnet facility into commercial production by the end of 2025, with its products geared towards the EV market. The company has already signed a partnership to supply GM with ex-China REPMs.",{"type":573,"attrs":692,"content":693},{"textAlign":49},[694],{"text":695,"type":578},"MP is one of just two major integrated Western rare earths miner-processors operating globally. With its planned metal-magnet facility, it would become the first Western company to own a complete mine-to-magnet production line. ",{"type":573,"attrs":697,"content":698},{"textAlign":49},[699],{"text":700,"type":578},"MP’s mine-to-magnet pipeline has particular potency in today’s context of supply chain localisation and industrial policy revival. Its Mountain Pass mine, which the company acquired and restarted in 2017, was the epicentre of the US rare earths sector when the country was the globally dominant producer during the 1970s and 1980s.","Two rare earth metal facilities are set to open this year in the US and Canada, paving the way towards a complete rare earth permanent magnet (REPM) supply chain in North America. Saskatchewan Research Council’s (SRC) metal plant became the first in Canada to enter commercial production last week. Meanwhile in Texas, US miner-processor MP […]",[703],{"slug":561,"name":562,"content":704},{"job_title":564,"image":705,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"0ab0b34f-2cf7-46c3-9358-9a94e9a7cec8\", \"id\": \"\"}-->","article",[709,712,715],{"slug":710,"name":711},"critical-minerals","Critical Minerals",{"slug":713,"name":714},"new-energy","New Energy",{"slug":716,"name":414},"rare-earths","private",{"id":49,"alt":719,"name":719,"focus":719,"title":719,"source":719,"filename":720,"copyright":719,"fieldtype":721,"meta_data":722,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/5537c4f740/bm-rare-earth-magnets.jpg","asset",{"alt":719,"title":719,"source":719,"copyright":719},"Oct 10, 2024","10th October 2024",[],[],1784633803954]