As China’s rare earths quotations see a sharp rise as they recover after the Chinese New Year (charts attached), new global scenarios are emerging with the aim of bypassing China’s monopoly in mineral extraction and refining.
A recent agreement being finalised between Ukraine and the US would grant the US access to a large part of Ukraine’s abundant mineral resources as a form of compensation for the military aid sent in recent years.
View graphs of Prnd, DyFe and Co
The agreement, however, has not yet been sealed as Zelensky, in order to protect himself from the fickleness of the White House, is planning to involve the European Union, the United Kingdom and Canada in the exploitation of his deposits, so as to lengthen the list of economic partners.
Opening up new sources of supply of rare earths becomes strategic for the preservation of some important industries: digital technologies, clean energy, aerospace, defence.
In rare earths – a group of seventeen elements whose extraction and processing is dominated by China – Ukraine is not actually rich. The country does, however, possess significant deposits of lithium graphite and cobalt, used in the manufacture of batteries for electric vehicles; titanium and beryllium for the aerospace sector; niobium, a superconductor; and uranium for nuclear energy.
While waiting to see how the negotiations will evolve and how the international rare earths scenario will change, Garnet is making agreements with Neodymium and Samarium-Cobalt factories to lock in quotations and book production for the second half of 2025 and early 2026.
Our Sales Department is available to draw up ad-hoc and customised magnet purchasing plans for your production needs. Contact us at project@garnetitalia.com