Rare earths
Overview
Rare earths or rare earth elements (REE) are crucial to modern society, driving innovation across automotives, electronics, renewable energy, healthcare, defence and aerospace, and as a catalyst in industrial and chemical processing.
As demand for highly engineered products continues to grow, manufacturers that rely on rare earths face a limited supply of marketable product outside a handful of Chinese producers.
Argus Rare Earths Analytics and Argus Non-Ferrous Markets address this unique challenge in the rare earths industry by delivering price data and forecasts through on-the-ground expertise and a proven methodology that supports long-term outlooks as well as supply and demand fundamentals.
Rare earths coverage
Argus assesses 72 different rare earth elements to deliver unbiased price data, news and analysis. The Argus Rare Earths Analytics also provides market analysis and 10-year forecasts for supply, demand, prices and projects across key rare earths:
- Cerium prices
- Dysprosium prices
- Erbium prices
- Europium prices
- Gadolinium prices
- Lanthanum prices
- Mischmetal prices
- Neodymium prices
- Praseodymium prices
- Praseodymium-neodymium prices
- Samarium prices
- Terbium prices
- Yttrium prices
Latest rare earth news
Browse the latest market moving news on the global rare earth industry.
Rio Tinto to buy out New Zealand Aluminium Smelters
Rio Tinto to buy out New Zealand Aluminium Smelters
Sydney, 31 May (Argus) — UK-Australian mining firm Rio Tinto has signed an agreement to acquire Japanese firm Sumitomo Chemical's stake in New Zealand Aluminium Smelters (NZAS) to own 100pc of NZAS. Rio Tinto will buy Sumitomo Chemical's 20.64pc stake in NZAS for an undisclosed price which will give it full control of the joint venture if all approvals — including from New Zealand's Overseas Investment Office, are secured — Rio Tinto said today. NZAS operates the Tiwai Point smelter at Southland on New Zealand's South Island, which was expected to close in December, but will now operate for at least two more decades as Rio Tinto signed 20-year supply deals with local utilities Meridian Energy, Contact Energy and Mercury NZ for a combined base-load volume of 572MW. The smelter is the largest single user of electricity in the country, and produced between 333,000-336,000 t/yr over 2021-23. The power supply agreements are expected to begin in July and run until at least 2044, with the biggest coming from Meridian Energy at 377MW, followed by 100-120MW from Contact Energy and 50-75MW from Mercury NZ. The supply deals — which are subject to regulatory approvals and other conditions — include 20-year demand response agreements with Meridian Energy and Contact Energy, under which NZAS may be requested to reduce electricity consumption by up to a total of 185MW. "The NZAS decision to extend the smelter life removes significant uncertainty for the electricity sector, which also helps pave the way for new renewable energy to be built," Meridian Energy chief executive Neal Barclay said on 31 May. Rio Tinto has also signed an agreement to buy Sumitomo Chemical's 2.46pc stake in Boyne Smelters Ltd (BSL), which owns and operates the Boyne Island aluminium smelter in Gladstone, Australia. Rio Tinto's interest in BSL will increase to 61.85pc upon completion of the deal. Sumitomo Chemical said it held shares in the Australian and New Zealand business for the purpose of importing primary aluminium for resale, but decided to sell its interests as changes in global market conditions led to "high" volatility in profitability and as it looks to strengthen its financial position. Rio Tinto originally planned to shut down NZAS in August 2021 because of high energy costs and a tough outlook for the sector, but pushed back its decision a few times. By Juan Weik Send comments and request more information at [email protected] Copyright © 2024. Argus Media group . All rights reserved.
E3 seeks IAEA action against Iranian nuclear activity
E3 seeks IAEA action against Iranian nuclear activity
Dubai, 30 May (Argus) — The E3 group — a diplomatic coalition comprising France, the UK and Germany — has prepared a draft resolution against Iran for the UN's nuclear watchdog the IAEA to consider at its board of governors meeting next week. The draft focuses on a probe into two previously undeclared nuclear sites in Iran and suggests the possibility that IAEA chief Rafael Grossi might provide a more "comprehensive report" on Tehran's nuclear activities than his regular quarterly ones. But it stops short of asking the IAEA to refer Iran to the UN Security Council for non-compliance, a diplomatic source with knowledge of the matter told Argus . "The E3 has prepared a draft resolution and circulated it, despite opposition by the US," the source said. "They have also begun negotiations with other members of the board of governors to ensure the largest number of votes… which will give the adopted resolution weight." The draft builds on three previous resolutions against Iran "but will stop short of a very important step — referring the issue to the UN Security Council as a situation of non-compliance, which would require an intervention," the source said. Since June 2020, the IAEA's board of governors has adopted three resolutions against Iran in response to insufficient co-operation on outstanding issues relating to its legal obligations under its Non-Proliferation Treaty (NPT) Safeguards Agreement. The board of governors will convene on 3 June for a week-long meeting, where "the draft resolution is surely going for a vote," the source said, an indication that unanimity among the 35 board members is unlikely. The US is keen to manage tensions with Tehran at a highly sensitive time for the country following the death of its president and foreign minister in a helicopter crash earlier this month. An editorial published by Iran's state news agency Irna on 29 May suggests Washington's concerns may not be unfounded. "As per previous experience, if a resolution is issued against Iran, Tehran will react to it and take countermeasures," the editorial said. Iran responded to two previous IAEA resolutions in June and November 2022 by removing more than 20 IAEA surveillance cameras at its nuclear facilities, and starting the production of 60pc enriched uranium at its Fordow nuclear site. "Based on history, issuing this resolution will be more detrimental to those issuing it than to Iran," Irna said. Building blocks "What is happening right now is the process of accumulation of resolutions, so that when the day comes and the IAEA makes a referral to the UN Security Council, there will be enough resolutions to make a case for action at the security council level," the source noted. Concerns among western officials over Iran's nuclear activity have been mounting since Tehran began breaching restrictions in 2019 in response to former US president Donald Trump's decision to pull Washington out of a 2015 nuclear deal between Iran and a group of world powers. Iran is enriching uranium to up to 60pc purity, according to the IAEA. Near 90pc is considered to be weapons grade. By Bachar Halabi and Nader Itayim Send comments and request more information at [email protected] Copyright © 2024. Argus Media group . All rights reserved.
BHP withdraws takeover offer for Anglo American
BHP withdraws takeover offer for Anglo American
Singapore, 30 May (Argus) — Australian resources firm BHP has withdrawn its takeover offer for UK-South African mining firm Anglo American despite a request for more time to discuss a possible deal. BHP had submitted a total of three takeover offers to Anglo American but they were all declined for significantly undervaluing Anglo American and its future prospects. All offers came with the same requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum and Kumba Iron Ore, its assets in South Africa, to Anglo American shareholders. The final offer was proposed on 20 May at [£38.6bn ($49.1bn)]($49.1bn), with the previous two offers at £31bn and £34bn , respectively. BHP has reiterated its intention to share in the cost associated that may be imposed as part of South African regulatory approvals and proposed some measures to "mitigate perceived value and completion uncertainty and ensure that any costs are not borne disproportionately by Anglo American shareholders", including sharing in the costs of increased South African employee ownership of South African businesses and maintaining current staff levels at Anglo American's Johannesburg office. "While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost," BHP said. Anglo American remained firm in its stance that its "shareholders will benefit from value transparency and undiluted exposure to a simpler portfolio of world class assets, consistently stronger operational performance and highly attractive growth in copper, premium iron ore and crop nutrients". It also said that it "has set out a clear pathway to accelerate delivery of its strategy and to unlock significant value for its shareholders". By Sheih Li Wong Send comments and request more information at [email protected] Copyright © 2024. Argus Media group . All rights reserved.
Osaka Titanium eyes output boost to meet airplane needs
Osaka Titanium eyes output boost to meet airplane needs
Tokyo, 29 May (Argus) — Japanese producer Osaka Titanium Technologies plans to boost its titanium sponge capacity, spurred by higher demand from the aviation industry that has led to it posting higher sales and profits. It plans to invest ¥30bn ($191mn) to set up a new plant in Japan's western Amagasaki city to meet growing demand for titanium sponge. This will lift its production titanium sponge capacity in Amagasaki to 50,000 t/yr from 40,000 t/yr currently. Most of the demand for its major product titanium sponge comes from the aviation industry, which consumes a significant amount of titanium sponge to produce things like engine components. This demand contributed to its net sales and net profit of around ¥55.3bn and ¥8.3bn respectively in the April-2023-March 2024 fiscal year, up by 28pc and 73pc on the year, it said on 24 May. Export and domestic sales were up by around 40pc and 20pc on the year respectively, but Osaka Titanium did not disclose further details like sales volumes. Osaka Titanium operated its Amagasaki plant at almost full capacity throughout 2023-24 to produce titanium sponge, meeting "expanded demand" from the aviation industry. Osaka has reached a tentative decision to build the new plant near its existing Amagasaki facility after considering other production sites, including overseas. This is largely because the company can start commercial operations faster by leveraging infrastructure at its existing plant, an Osaka Titanium representative told Argus . The company can also minimise construction costs, he added. Firm demand, especially for use in small aircraft, has lifted Osaka Titanium's financial outlook for 2024-25, with it predicting net sales and profit to come in at ¥57bn and ¥11bn respectively. The global aircraft market for smaller airplanes is expanding after recovering from sluggish demand caused by the Covid-19 pandemic. The medium- to large-sized airplane market will also make a full-scale recovery in the medium term, the company said. This is despite growing concerns among materials suppliers about demand in the near term after US airplane maker Boeing had to halt plans to produce 50/month of its flagship 737 MAX aircraft between 2025 and 2026. This was brought on by a US Federal Aviation Administration decision to cap Boeing's output at 38/month following a mid-air panel blowout in early January that resulted in the temporary grounding of over 170 737 MAX 9s. "We do not recognize any immediate concerns," the Osaka Titanium representative said. "Our clients request us to produce as much as possible." By Yusuke Maekawa Send comments and request more information at [email protected] Copyright © 2024. Argus Media group . All rights reserved.
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Podcast - 06/11/23