Australian company Hastings Technology Metals could broaden the supply of rare earths for the European EV industry. This is made possible by a currently non-binding supply agreement with Canadian company Neo Performance. The technology metal firm already operates a rare earths separation plant in Estonia and is building another factory to produce magnets from these critical raw materials. Until now, Europe has imported these components mainly from China.

Big Four accounting firm PricewaterhouseCoopers has published the 2023 edition of its annual review of the world’s largest mining companies, Mine. In the report, PwC argues that the advent of critical minerals presents significant changes to the mining industry. Additional challenges are government interest in supply chains and critical minerals, decarbonization efforts, and a tech skill shortage.

Anglo-Australian mining giant Rio Tinto and China Baowu, the world’s largest steel producer will explore multiple projects in China and Australia together that will help decarbonize the steel value chain, according to a joint press release.

Swedish state-owned mining company LKAB reported the discovery of a large rare earth deposit in January this year, and exactly six months later the company is now providing an update on the Per Geijer deposit. At over 1.3 million tons, the amount of rare earths present there has been revised upward by 25 percent.

U.S. President Biden and U.K. Prime Minister Sunak have announced a new framework for a trans-Atlantic economic partnership in the twenty-first century. The hence-named “Atlantic Declaration” is set to provide the foundation for increased cooperation in fields like clean energy, artificial intelligence, and critical minerals.

Rare earth exports from China stalled in May