Environmentally-harmful emissions in industry and transport are to be reduced though the use of hydrogen. However, it is unlikely that Germany’s production capacity for this beacon of hope will be up to the task. Better prospects are offered by Africa.
The ban also affects the planned mining of rare earths at the Kvanefjeld mine.
After the increase in the production quota, the amount of exported raw materials is now also rising.
MP Materials, the largest producer of rare earths in the western hemisphere, can benefit from the upturn in demand. The establishment of an independent value chain for the strategic raw materials remains a central task.
The share of renewable energies in Germany fell over the course of the year. The decline mainly affected wind energy.
Rising prices affect demand for rare earth magnets. Germany is the main importer, Shanghai Metals Market reports. The permanent magnets are needed for numerous applications.