The Conversation (0)
Business Insider reported an interview with Jack Lifton on the current state of the rare earth sector.
Business Insider reported an interview with Jack Lifton on the current state of the rare earth sector.
Rare earth industry expert Jack Lifton said:
Annual growth projections in the REE permanent magnet market has been about 8–9%. Worldwide production of neodymium is approximately 21–25 Kt/a. Ninety percent is from China, the balance from Molycorp. If demand increases at 8% per year for three years, that’s about a 30% increase, approximately 7.5 Kt of production. Demand growth will be about the same as new mine supply and that will maintain the price of neodymium.