Last Updated on: 22nd November 2023, 02:07 am
In its latest publication titled “TELF AG analyses the African potential related to rare earths,” TELF AG delves into the intricate dynamics shaping the global rare earth market. The report examines key production hubs for these coveted materials and assesses European market strategies concerning their supply.
The initial sections of the publication underscore the pivotal role of raw materials and rare earths in the global ecological transition. It highlights their significance in powering electric vehicles and manufacturing technologies integral to clean energy, such as solar panels and photovoltaics.
Rare earths, in particular, play a crucial role in the production of high-intensity magnets, which currently constitute 50% of the total rare earth consumption and represent the highest industrial application in terms of economic value. TELF AG highlights one specific industrial application of these magnets, emphasising that 90% of electric vehicles incorporate high-intensity magnets.
The recognition of their fundamental role in electric vehicles is essential for understanding the future dynamics of the global rare earth market. This market is expected to witness price increases and concurrent surges in demand, fostering enduring interest for decades to come, until the world firmly transitions into the green and sustainable future frequently discussed.
TELF AG also scrutinises the specific production and refining centres for rare earths, with a notable focus on China. Beijing holds a significant position in this market, as it concentrates nearly all the refining and conversion of rare earths into industrially usable materials, leading to an inherent dependence on international markets.
To address this situation, numerous nations are increasingly exploring the potential of Africa in the context of rare earth development and raw material production capacity. This capacity is poised to expand, especially in terms of value, partly due to specific political initiatives adopted by African governments in recent months aimed at curbing the export of raw materials.
For a more comprehensive understanding of these dynamics, readers are encouraged to peruse the complete publication by TELF AG.
