South Africa, Burundi can help plug global rare earths shortfall
China dominates the global market for materials essential for EV batteries, and manufacturers are seeking to diversify their supply chains
A global search for alternative sources of supply for the rare earths needed for electric car batteries has begun, in response to growing concerns about over-reliance on China. Guangdong-based Southern Rare Earth in January raised its prices for heavy rare earths in response to tight spot market availability and stronger magnet sector demand. Prices are likely to keep rising in coming years, analysts at investment bank UBS have said. Electric vehicles need about five times as much rare earth as internal combustion engines equivalents, and UBS predicts that supply of the neodymium and praseodymium (NdPR) rare earths needs to triple by 2030. North America, the US and the UK all need to find ne

Also in this section
30 November 2023
Negative pricing has become more frequent in European energy markets, and GB markets are now experiencing a similar increase
29 November 2023
Preparations underway for inclusion of cement, aluminium and steel producers in world’s largest compliance market by 2030
28 November 2023
European Commission earmarks cross-border projects for funding and fast-tracks carbon management strategy as pressure grows to kickstart CCS sector
27 November 2023
Progress in decarbonisation but significant challenges lie ahead