Automaker General Motors (GM) and GE Renewable Energy, a division of conglomerate General Electric (GE), plan to collaborate on the supply of rare earths and other critical components in the future.
Canada's mineral resources include rare earths. Vital Metals plans to process the raw materials in the country in addition to mining them.
168,000 tons of rare earths are expected to be mined in China in 2021, which would be a new record.
The European Raw Materials Alliance on Thursday published a report on the status quo of rare earth supply in Europe, categorizing the heavy dependence on imports as critical. Politicians are now called upon to create better framework conditions.
The heads of government of the Quadrilateral Security Dialogue (Quad for short), an alliance of the USA, Australia, India and Japan, met face-to-face for the first time last Friday. One topic was securing the supply of rare earths.
Commerce Department investigating whether reliance on imported NdFeB magnets poses a threat to national security.