Blood Batteries – Cobalt And The Congo
Rare Earth Elements – “Specialty Metals” for a Greener World
Over the last 10-15 years world consumption of REO has increased at 8-12% per annum, and in 2008 consumption is forecast to be in the order of 135,000 tonnes (1.5-2B US$). Global demand for REEs is already outweighing supply, resulting in sharp increases in their value. China currently contributes > 90% of global REE supply, and already consumes > 60%. In recent years the Chinese have been steadily reducing export quotas, and increasing export taxes, in recognition that REOs represent a very strategic commodity group. As with many commodities, the REE landscape is at a point of radical change. China is turning its priority from supplying the world, to supplying the burgeoning demand from internal industries that are dependent on REE availability. By 2012 global consumption of REEs is forecast to increase by 65% from current levels, driven by significant market growth for many applications that rely on REEs. As a result the world urgently needs new, long-term stable suppliers of REEs to meet the strong demand. Given that the major applications for REEs are products and devices that offer environmental benefits, the need to significantly increase REE supply is paramount to facilitating the emergence of new technologies that can help to preserve the world as we know it.
Tesla warns of coming battery minerals shortage
The comments by Sarah Maryssael, Tesla’s global supply manager of battery metals, echo those of other carmakers, such as Ford Motor, Toyota and BMW, who have said the auto industry would need to invest directly in battery metals mines in order to secure supply over the next three to five years.
Mining.com