WA a competitor in rare earths
Thursday, 13/01/2011
Western Australia is set to become a major player in the emerging rare earth industry.
Rare earths are a group of 17 elements that have unique chemical and magnetic properties which make them indispensable in the manufacture of laptop computers, hybrid cars and energy efficient light bulbs.
China currently produces 95 per cent of rare earths but the west is drawing global attention because of it's potential reserves.
Industry expert Dudley Kingsnorth says demand, currently sitting at around 125,000 tonnes, is expected to grow at around 3 times the rate of most other commodities.
"By the time we get to 2015 demand will be about 180-190,000 tonnes, and by the time we go forward to 2020, demand will be about 250 - 300,00 tonnes a year."
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