A British magnet factory could be built by 2024 and eventually produce 2,000 tonnes a year of rare earth magnets, enough to supply about 1 million EVs.
It did not take long for COP26 to turn into a farce with UN Secretary General António Guterres pleading with the gathered highnesses and excellencies to declare enough is enough.
Canada is the only Western nation that has an abundance of cobalt, graphite, lithium, and nickel, essential to creating the batteries and EVs of the future.
According to IDTechEx, Europe is making efforts to decrease the utilization of magnetic materials and especially heavy rare earths in its electric vehicles.
New report lays out how the green energy transition “starts and ends with metals” but the required exponential growth in mining is a glaring hole in US and global decarbonisation strategies.