The British subsidiary Less Common Metals possesses expertise that is rare outside China in processing the critical raw material into metal.
USA Rare Earth (USAR) announced on Wednesday the first commercial production of yttrium metal. The production took place via its British subsidiary Less Common Metals, based in Ellesmere Port in northwest England. CEO Barbara Humpton described this as a milestone, noting that the rare earth element yttrium has so far been produced almost exclusively in China.
While other mining companies, such as Lynas in Australia, already operate or are planning oxide processing, the downstream processing into alloys and metals in particular is a stage of the value chain that is almost entirely dominated by Chinese companies. With the acquisition of Less Common Metals last autumn, USAR secured this know-how. The planned production of rare earth magnets and the extraction of the required raw materials from its own Round Top deposit in Texas are intended to complete the value chain. USAR also aims to strengthen its market position through its recent investment in the French company Carester. Its competencies include the separation, processing, and recycling of rare earths.
Yttrium is used in various civilian and military high-tech applications, including lasers, LEDs, and thermal barrier coatings, for example, in energy supply and aerospace. It is one of the seven rare earth elements that China, the main producer, imposed strict export restrictions on a year ago. This has had noticeable effects on global supply: in addition to fluctuating export volumes, yttrium has seen significant price increases.
Photo: Jupiterimages via Canva