Recent developments in the world of rare earths over the past week. First of all, the movement to establish a base for separating and processing rare earths from monazite is gaining momentum. In addition to Canada and other countries, Indonesia has already taken action. In Indonesia, a state-run organization seems to be taking the lead in the mining of rare earths from its own reserves, with a desire to cover mining and production in the country.
Progress in the development of an English processing facility that will produce neodymium and praseodymium with a 5% share of global production by 2025
Pensana has updated the development status of its Longonjo rare earths project, a rare earths processing facility located at the company's Salt End Chemicals Park in the Humber, UK. Development of the facility will begin this summer, and when completed, the facility will have the capacity to produce approximately 12,500tpa of rare earth oxides. When the facility is completed, it will have the capacity to produce about 12,500tpa of rare earth oxides, including 4,500tpa of neodymium and praseodymium, which is equivalent to about 5% of the estimated global market in 2025. This release reports that the survey is progressing on schedule and is going well. For details, please refer to the following
Indonesia to focus on its own rare earth reserves
According to the local media at the end of August, Indonesia has been found to have abundant potential for rare earths (JOGMEC information). In Indonesia, the Geological Agency of the Ministry of Energy and Mineral Resources (JOGMEC) routinely conducts surveys to find signs of rare earths, and although signs of rare earths have been discovered in many areas of Sumatla, Kalimanta, Java, and Sulawesi islands, further surveys are needed.
In Indonesia, under the leadership of the National Nuclear Energy Agency (BATAN), a facility for the separation of rare earths from mozanite was already constructed in 2017, and is currently being prepared for operation. The fact that Canada is the only country other than China that has started to use mozanite separation technology this summer suggests that Indonesia is highly motivated to enrich itself with rare earths. The rare earth project in Indonesia is being led by two organizations: BATAN and PT Rekind, a state-owned company established in 1981 to promote oil and gas projects.
China National Standard for Production and Processing of Neodymium Magnet Recycled Materials to be Implemented in October
The Chinese National Standard "Production and Processing of NdFeB Recycled Materials" is scheduled to be implemented on October 1 this year.
This plan stipulates the classification principles, chemical composition requirements, testing methods, inspection rules and regulations for the production and processing of NdFeB recycled materials, as well as packaging, labeling, transportation, storage, quality certification, etc. It applies to the recovery, processing and trade of recycled materials during the production and processing of NdFeB. It applies to the recovery, processing, and trade of recycled materials during the production and processing of NdFeB. It requires that recyclable materials be classified into different categories and that the raw materials, appearance, and chemical composition be indicated in detail.
Now let's check the latest market.
According to data from the China Association of Automobile Manufacturers (based on an article in the Nikkei newspaper dated July 7), sales of new energy vehicles in China in July were 271,000 units, 2.6 times higher than the same month last year, and sales from January to July were 1,478,000 units, exceeding the record annual sales of 1,367,000 units for 2020. The number of vehicles sold in Myanmar is increasing every year, and the demand for these vehicles remains unchanged.
On the other hand, on the supply side, the spread of coronavirus infection in Myanmar has led to the ongoing suspension of exports to China, and in China, environmental audits by the authorities are becoming stricter but not loosening.
Terbium oxide, first on the upswing after $950 in late June, peaked at $1,330 in early August and recently settled slightly at $1,208.
Terbium oxide（99.99% USD/kg FOBChina）Three months
Terbium metal, also up from $1,210 at the end of June, most recently $1,500.
Terbium metal（99.99% USD/kg FOBChina）Three months
Praseodymium oxide is trending higher and is currently hovering around $98,000-99,000 for a few weeks now, above the $82,000 area where it had been holding for a while.
Praseodymium oxide（99.5% USD/ton FOBChina）Three months
Ferrodys Prosium also rose in stages from $350 at the end of June to around $410-415 last week to just under $400 recently.
Ferrodys Prosium（99%minDy80% USD/kg FOBChina）Three months
Neodymium metal rose in stages from $91 at the end of June to a peak of $121.5 the week before last before adjusting once, but recovered to $119 last week and then maintained its current level.
Neodymium metal（99% USD/kg FOBChina）Three months
Ferroboron. It has reversed and is rising since last September. The price has risen further from 19,000 yuan to 19,500 yuan per tonne in the last week and is still at 20,000 yuan to 20,500 yuan per tonne, which it hit in the last week.
Ferroboron（B18%,C0.5%max EXW China）(RMB/mt) Three months
Domestic prices in China for cerium metal, a representative of light rare earths, have not changed since June.
Domestic prices in China for cerium metal（99%min RMB/kg）Three months
China's domestic dysprosium oxide market also maintained a slight lull in its upward trend after a reversal at the end of June.
China's domestic dysprosium oxide（99.5%min RMB/kg）Three months
The ferro-dysprosium market has also remained almost the same as dysprosium oxide.
The ferro-dysprosium in China（Dy80% RMB/kg）Three months
The price of neodymium metal in China reversed its upward trend at the end of June and has remained high since early August.
neodymium metal in China（99%min RMB/kg）Three months
China's domestic praseodymium oxide, after hitting 624,000 in mid-August from 467,000 at the end of June, has paused somewhat.
China's domestic praseodymium oxide（Pr6011/25% Nd2O3/75% EXW China RMB/mt）Three months