Rare Earths Agreement
Lynas will design and operate the separation system that will handle rare earth heavy materials from its Mt Weld mine in Western Australia. A rare earth mining town in northern China, Baotou, is home to what is known as a „nightmare toxic lake“ because of its pollution levels. The growth of rare earth markets is fuelled by rare terrestrial magnets (neo- and electric engines for electric vehicles and generators in wind turbines). The neo-magnets used in these high-temperature applications use alloys such as neodymium, praseodymics, dysprosium and terbium. The production of rare earths produces toxic wastewater, gases and deposits – remaining materials that are not for sale – including ammonia and thorium, which can damage the lungs and liver. These factors make it serious that rare earths and similar minerals are treated differently, Vernon says. Canada`s Search Minerals (TSXV: SMY) and USA Rare Earth announced Tuesday that they have reached a framework agreement on technical cooperation to regulate initial cooperation to promote the development of each company`s mineral resources. Australia and the United States have joined forces to find sources of information for critical minerals, including rare minerals, and to reduce their dependence on China, which currently dominates supply and demand. How will the partnership help stimulate the development of new projects and what are the challenges? We`re making a report. The concentration of rare earth production power in China has worried the governments of Australia and the United States – a concern that came under the spotlight after Beijing threatened to limit the trade in rare earths in an escalation of its trade war with Washington in July. For the extraction of rare earths from the Longonjo mine, near the town of Huambo, Angola, the company`s mining title, which will be valid for 35 years, has been approved.
Several U.S. senators have pushed the Pentagon to fund only rare domestic land projects MP Materials, which owns the largest rare earth mining operation outside China, has received a dpa Title III technology investment contract for the creation of national rare earth processing capabilities (LREE).