Weekly News Review January 13 – January 19 2025

This week, data on China’s rare earth exports for the entire year of 2024 was published. Meanwhile, other regions worldwide are trying to challenge the industry leader and gain a larger share of the global market.

SAUDI ARABIA AND UK TO SIGN STRATEGIC METALS PARTNERSHIP:

According to media reports, the Kingdom of Saudi Arabia and the United Kingdom will sign a new critical minerals partnership in Riyadh this week. Saudi Arabia will host representatives from more than 85 governments at the Fourth Future Minerals Forum, the sector’s leading event in the Middle East.

British Industry Minister Sarah Jones will lead a delegation of 16 UK-based companies, including Cornish Lithium and Westcountry Minerals. The to-be-signed partnership aims to foster closer collaboration in the sector and bolster supply chains and economic prosperity in both countries.

The Middle East in a Post-Oil Era:

Saudi Arabia seeks to expand its critical minerals sector to diversify its economy, reduce dependence on oil, and position itself as a global hub for mineral trade and processing. With an estimated $2.5 trillion in untapped mineral resources, the kingdom’s Vision 2030 plan prioritizes raw materials as a key driver of economic growth, job creation, and technological advancement.

Part of the plan is also a massive investment in the exploration of critical mineral deposits announced last year. In addition to its significant investments in the mining sector, Saudi Arabia actively seeks to attract foreign investment. In November, the Kingdom secured agreements with several international companies, collectively valued at $9 billion.

The Kingdom of Saudi Arabia is not the only state in the region looking to capitalize on critical minerals. Last week, the Crown Prince of Abu Dhabi and the Brazilian Minister of Mines and Energy finalized a Memorandum of Understanding to cooperate in the field. While Abu Dhabi has few resources, it has the economic strength to support Brazil’s growing mining sector.

CHINA: RARE EARTHS EXPORTS UP IN 2024 –

China’s rare earth exports rose nearly six percent in 2024, reaching 55,431 tons. However, December saw a sharp 24.7 percent drop compared to November. Meanwhile, imports from Myanmar, a key supplier, fell by 10 percent amid ongoing civil unrest, raising concerns about future supply security.

A significant reduction in rare earth imports to China was also observed for the entire year of 2024. These raw materials are processed domestically before being exported as finished goods or intermediate products. One of China’s primary trading partners for rare earths is Myanmar, which has been enduring years of civil war. This ongoing conflict poses a potential risk to supply stability.

According to Chinese authorities, imports of rare earths from Myanmar fell by 10 percent between January and November 2024 compared to the same period in 2023.

China’s total foreign trade picked up last month, with exports and imports showing notable growth. According to Reuters, this uptick was partly driven by companies accelerating shipments overseas in preparation for potential trade risks under the new U.S. President, Donald Trump, who had announced plans to impose new tariffs on Chinese goods.

EUROPE: CAN NUCLEAR WASTE BECOME A RECYCLED RAW MATERIAL:

An EU-funded project aims to reduce radioactive waste and recover valuable resources simultaneously.

In addition to expanding renewable energy, countries worldwide, including some in Europe, are increasingly turning to nuclear power as a low-emission alternative. However, the disposal of radioactive waste remains a contentious issue. For example, finding a suitable site for long-term storage in Germany could take decades. A new EU project, however, is exploring a different approach: extracting valuable raw materials from nuclear waste.

The project ” MaLaR—Novel 2D-3D Materials for Lanthanide Recovery from Nuclear Waste” has been awarded €2.3 million in funding over the next three years. Led by Professor Kristina Kvashnina from the Helmholtz-Zentrum Dresden-Rossendorf (HZDR), it also involves research institutions in France, Sweden, and Romania.

The project focuses on recovering lanthanides, a group of chemical elements that include most rare earth elements. These materials are essential for electromobility, wind energy, consumer electronics, contrast agents, and catalysis applications. Since rare earth production is concentrated mainly in China, the EU aims to reduce its reliance on imports, with recycling a key strategy.

Developing a Greener and More Efficient Separation Process for Rare Earths.

To recover these materials from nuclear waste, the waste must first be broken down into components. Kvashnina explains that this process is complicated by the usual safety risks of handling radioactive elements and the strong chemical similarities between rare earth elements.

Current separation methods to separate cerium, lanthanum, neodymium, and the like are energy—and chemical-intensive, often producing additional waste. The MaLaR project aims to create a more environmentally friendly and efficient method for separating rare earths, applicable to both nuclear and industrial waste.

The researchers will employ sorption, a process in which specific radioactive elements in liquid nuclear waste attach to a solid sorbent material, allowing them to be isolated from other substances. Graphene oxides, porous carbon-based materials, will be used as “element catchers”.

Studies have shown that graphene oxides could significantly outperform current industrial sorbents for radionuclides. Kvashnina and her team plan to optimize the electronic structure of graphene oxides to unlock their full potential.

The goal of MaLaR is to develop market-ready technological solutions that not only recover valuable raw materials from waste but also improve the safety of radioactive waste disposal. The innovative separation methods could help isolate isotopes with different half-lives, enabling safer long-term storage.

AUSTRALIA’S FIRST COMBINED RARE EARTH MINE AND REFINERY SECURES ADDITIONAL $124 MILLION IN FUNDING:

The Nolans rare earth project in Australia’s north already has household names interested in its raw material.

Australian mining company Arafura Rare Earths Limited has secured $124 million (AUS$200 million) in National Reconstruction Fund Corporation funding to advance the Nolans rare earth project. Nolans is set to be Australia’s first combined rare earth mine and refinery in the Northern Territory.

Arafura’s Managing Director, Darryl Cuzzubbo, said the NRFC investment would underline the “strategic importance” of the Nolans Project for Australia. He emphasized that the funding significantly advances the project toward a final investment decision, anticipated in the coming months. Similarly, Australian Resources Minister Madeleine King emphasized the pivotal role of rare earths and the project in a social media post addressing the NRFC investment.

Carmakers and Turbine Producers Interested in Raw Material From Nolans:

Arafura has already secured significant funding for the Nolans Project. Notable companies expressing interest in its rare earth raw material, particularly neodymium-praseodymium, include South Korean automotive giants Hyundai and Kia and U.S. conglomerate General Electric, which plans to supply its offshore wind turbine production hub in France with the material.

Government-backed investments, such as those from Canada’s export credit agency and South Korea’s Eximbank, are strategically linked to offtake agreements.

The NFRC is an entity of the Australian government overseeing the $9.29 billion National Reconstruction Fund, launched with the October 2022 Federal Budget. With the fund, Australia aims to diversify and transform its industrial sector by catalyzing investments into areas deemed key for future prosperity, including clean energy, critical minerals., agriculture, and medical manufacturing.

AUSTRALIA’S RARE EARTH SPECIALIST LYNAS RECORDS IMPROVEMENT IN FINAL QUARTER OF 2024:

Lynas reported a slight revenue increase in the final quarter of 2024, reaching $87.6 million, a four percent rise compared to last year. The Australian rare earth mining and processing company highlighted (PDF) ongoing challenging market conditions, with demand in the key Chinese market remaining subdued due to the country’s slow economic recovery affecting domestic demand.

The company expects no significant changes for the current quarter and notes that the extended Chinese New Year holiday may impact business.

According to Reuters, despite the improvement, the figures fell short of analyst expectations.

CHINA DISCOVERS EXTENSIVE RARE EARTH DEPOSIT IN YUNNAN:

China’s Geological Survey has discovered an extensive ionic adsorption clay rare earth deposit in the Southwestern province of Yunnan. These clays are known for their high concentration of coveted, heavy, rare earth elements such as dysprosium and terbium. These are strategically important as key ingredients in magnet production to enhance performance and durability. With an estimated reserve of 1.15 million tons, the deposit is the largest of its kind in China, according to the agency. According to the U.S. Geological Survey, China’s total rare earth reserves are estimated to be roughly 44 million tons.

Currently, large-scale mining of ionic adsorption clays is concentrated in southern China and neighboring Myanmar, as these clays form only in tropical and subtropical regions with intense weathering. However, neighboring Laos is actively exploring opportunities to develop its deposits.

Across the Pacific, Brazil is also making strides in harnessing its ionic clay resources.

In comparison, most other types of rare earth deposits, such as those found in Sweden and Norway, the latter estimated to be the largest in Europe, predominantly contain light rare earths.