Here's the deal - I liked that Joe Biden term when running for presidency. An dlike him I'm getting old and my numbers below are close to within total +/-1000T.
LYNAS Malaysia will ramp to 10,500T PrNd end of 2024.
Lynas Texas plant to produce 4,500T PrNd in 2027.
Iluka WA plant to produce 5,000T PrNd in 2027.
Total of 20,000T PrNd by 2027 for the US - JAPAN - SK - EU - INDIA - SOUTH EAST ASIA.
Again as Siemens Renewables CEO stated - there just will not be enough to go around.
Graphite supply both natural and synthetic for battery "anode" production can be built - it will take time of course.
Other now critical minerals such as lithium for the "cathode" are a challenge - with 90% processed in China - whilst Australia mines the most lithium globally at present it all goes to Chinese refiners. No one is going to build out extremely expensive lithium refineries - when so much new development is being pursued as the the cathode composite - niobium being one clear breakthrough with its significant advantages - sodium - silicon - the list is endless in search of the battery holy grail both EV and storage.
The experts say lithium is to be the key for next 5 years - no company is going to invest billions into a refinery with no certainty.
Return to PrNd - RE mining and refining - sure there are many pundits looking for the holy grail there - but nothing is superior as PrNd magnets for EV and off shore Wind turbines. The superior chemistry provides greater performance - heat management that many another lower priced good magnets can not deliver. Until anything else is proven after a decade of testing and actual use - not in a lab - PrNd magnets will be the way for decades.
Why do I bring this up? Well it would have to be on the minds of off takers somewhat - but certainly financiers. If they are to provide finance of 10-15 year terms - they require a certain level of assurances the product they are financing will be of high value not for 5 years - but 20 years - just as we investors need to - it is not a great investment in something that will be obsolete in 5-10 years.
The off takers are at the head of their industries - look at our Tier 1 off takes thus far - GE in the cue. They are committing to such off take and finance attached as they are not seeing anything in all their sophisticated R&D - tech departments that suggests any other product will replace PrNd ,agnets in the future - quiet the opposite when one looks at their investments - the Hyundai magnet partnership with Posco and another co. to be built in US as one very recent example.
Batteries are different - composites can/are changing - mega battery plants can retrofit to change the cathode composite - but miners of certain minerals the flavor of today for batteries - could be found wanting in the short - medium term given the rapid E battery tech progress.
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