Researchers at Chalmers University of Technology, Sweden, have published a study on raw material demands conducted on behalf of the European Commission. The team argues that the European Union’s demands to electrify its industry are outpacing the current global supply including new recycling abilities and advocate to find substitutions long-term, but more extraction is required in the meantime.
Scientists are testing machine learning algorithms to predict deposits on Earth and other planets.
Canadian rare earths mining and exploration company Mkango Resources Ltd. has published earnings for the first quarter of 2023 ending March 31. The corporation has reportedly decreased its loss but remains in a deficit. However, the company reported progress in its mining, refining, and recycling ventures.
Hyundai Motor Group and LG Energy Solution have signed a memorandum of understanding to construct a $4.3 billion electric vehicle battery plant in Bryan County, Savannah, Georgia. The new facility will supply the Hyundai Metaplant America which is currently under construction and is set to produce 300,000 EV units annually.
Australia and India Deepen Critical Mineral Cooperation
Despite supply risks and possible rising future demand, the U.S. is not following Europe’s classification.