Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
The companies announced the verified discovery of one of the largest palladium mineral systems in Australia.
Subsitution is driving rare earth demand down, according to analyst Dudley Kingsnorth speaking at an industry conference in China. Kingsnorth is executive director of Industrial Minerals Company of Australia.
Dudley told the Metal-Pages(TM) Minor Metals and Rare Earth Conference in Beijing last September that he is dropping projected demand of rare earth oxide per annum to 170,000 tonnes from a previous forecast of 195,000.
For example manufacturers of rechargeable batteries may start using lithium ion materials instead of a nickel-metal hydrid, which uses the light rare earth lanthanum.
The economic slowdown is also hampering demand, but long-term demand will be strong and global demand in 2020 will be 240,000 to 280,000 tpa.
Kingsnorth said there are a group of rare earth elements that will continue to be short supply: europium, terbium, dysprosium, and erbium along with the light rare earth neodymium.
The future supply of dysprosium is of significant concern.
MINING.com reported in the past that the price of abundant rare earths could halve as hybrid-makers find alternatives.
2 Comments
REE
What of Tantalium (Ta)?, without which the electronic capacitors utilized in all our computers, mobiles, defense . . would not exist. No (Ta) no more electronics. Has anyone heard of a substitute for Ta ?
Dakininews
We have ridiculously high heavy REE values in those elements on our unknown exploration property in Canada ….. I am sure we will continue to see new discoveries of this type elsewhere also …. these elements are not so rare ….. what we really need is metallurgical treatment faciilities and expertise to extract and refine them …. tedious and precise work …… supply should enhance demand as it will allow for more product development and new material development, instead of entrepreneurs being constrained by wariness re: supply. The Chinese are nuts if they think they or anyone else cn have a monopoly on REE markets … or a stranglehold on manufacturing industries’ and their freedom to install themselves where-ever they want. A smart nation makes sure that the hi-tech manufacturing REMAINS on native soil …… along with all the expertise and skill and future information and tech innovations. Wake up, world.