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Investors toast rare earths as electric cars drive ‘magnet metals’ demand

30.1.2018

Rare earths prices are rebounding — and demand is expected to grow as electric car sales gains pace.
While most investors closely watch “battery metals” such as lithium, cobalt and graphite used in electric car batteries, attention is turning to rare earth “magnet metals” such as dysprosium, neodymium and praseodymium used in electric car motors.
“With the electric vehicle evolution upon us there’s just simply a need for more rare earths in the electric vehicle application,” Northern Minerals (ASX:NTU) managing director George Bauk told *.
“We believe that we will see a strengthening in the rare earths prices in the near future.”
Northern Minerals expects to start shipping dysprosium from its Browns Range project in Western Australia in the September quarter.
Dysprosium is an additive used in the permanent magnets required for the motors in electric vehicles and wind turbines. The heavy rare earth allows the magnet to retain its charge at a higher temperature.
Each electric vehicle contains roughly 100 grams of dysprosium.
Bloomberg New Energy Finance estimates electric cars will account for 2 per cent of the market by 2020, rising to 8 per cent by 2025 and 20 per cent by 2030.
“That doesn’t take away from other applications that rare earths are in, but that single application is going to be a real driver of demand,” Mr Bauk says.

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