The shift to a clean energy system is set to drive a huge increase in the requirements for rare earth elements (“REEs”) and other critical minerals, meaning that the energy sector is emerging as a major force in mineral markets.
The four REEs that are particularly important to the green energy transition are Nd Pr, Dy and Tb, due to their role in the rare earth permanent magnets critical for use in EVs and wind turbines. The competitive advantage of rare earth permanent magnets is their very high strength to weight ratio, meaning they can deliver a higher power output from a more compact magnet size than other magnets.
The intensive mineral requirements of low-carbon, greener technologies is driving demand for rare earths against a backdrop of constrained supply. We believe Rainbow is well positioned to provide these essential materials in an efficient and responsible way.
Rainbow is a member of the European Raw Material Alliance (“ERMA”). ERMA is working to ensure reliable, secure and sustainable access to critical and strategic raw materials, with a specific focus on the rare earth magnet chain.