Roundup – Critical Raw Materials News of Week 4

by | 24. Jan 2025 - 20:01 | Economy

China released the second batch of export data for December this week, offering comprehensive insights for the full year 2024. Meanwhile, two major players in the critical minerals mining sector, MP Materials and Iluka, published financial results for the fourth quarter—the details in our roundup.

2024: China Exported More Gallium, Less Germanium
In December, China exported 6,420 kilograms of Gallium, according to data from the customs authority. This translates to a decline of nearly nine percent compared to the same month in 2023. For the entire year 2024, the world’s leading producer exported 69,440 kilograms of Gallium, marking a substantial increase of over 55 percent compared to 2023.
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MP Materials Begins Commercial Operations at Texas Magnet Facility
MP Materials, the operator of the only active rare earth mine in the United States, has officially commenced commercial production at its magnet manufacturing facility in Fort Worth, Texas. The company successfully started large-scale production of neodymium-praseodymium (NdPr) metal, a precursor material for neodymium-iron-boron (NdFeB) magnets.
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Rare Earth Magnets: JL Mag Builds New $143.6 Million Facility
Chinese magnet producer JL Mag is investing $143.6 million to build a new production facility in Baotou, Inner Mongolia. With an annual production capacity of 20,000 tons of magnetic rare earth material, the plant will increase JL Mag’s total capacity by 50 percent. Construction is estimated to take two years.
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Iluka: Revenue Decline – Rare Earth Refinery Construction Making Progress
Mining company Iluka published financial results for the quarter ending in December on Wednesday. The company, specializing in titanium and zirconium, reported a revenue decline for the quarter and the entire year. Meanwhile, progress is being made on constructing the Eneabba rare earth refinery.
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Mining Waste: Chile Aims to Leverage New Raw Material Source
Mining plays a significant role in Chile, but centuries of resource extraction have left their mark, with nearly 800 registered waste piles scattered across the country. These byproducts are now being repurposed for a new use. Through the Agenda de Relaves 2025/2026 initiative, the Chilean government aims to manage these remnants more sustainably while recovering valuable materials.
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