Rare Earth metals have long been a niche, but strategically important part of the mining industry. Although there are seventeen rare earth elements with a wide variety of uses, two in particular (Neodymium and Praseodymium, or NdPr for short), are becoming increasingly important due to their link to the growth of a low carbon economy. CRU’s recent work in rare earths has explored fundamental demand modelling, sources of new supply and cost competitiveness of new entrants.
Battery metals such as lithium and cobalt get a lot of attention as being critical for EVs, but propulsion metals such as NdPr are equally important. It doesn’t matter what kind of battery a car uses, whether it is a hybrid, plug in hybrid or pure battery EV (or even it is fuel cell powered), electric motors will still be needed to drive the wheels.
Rainbow Rare Earths Ltd (LON:RBW) is a mining company focussed on production from, and expansion of, the high grade Gakara Rare Earth Project in Burundi, East Africa. With in-situ grades in the range of 47-67% Total Rare Earth Oxide (TREO), Gakara is one of the world’s richest rare earth deposits.