Rare Earths will play a critical role in the future of clean energy, with demand being driven by rising levels of investment in wind energy (Wind Turbines) and Electric Vehicles.
Investment in wind energy continues to rapidly grow across the globe. For example, Europe has set a power generation from wind target of 36% by 2050 (up from 3.5% in 2015).
Rare Earths are integral to a fully functioning Wind Turbine, due to the use of permanent magnets within the turbine generator and for attaching internal fixtures within the turbine tower. To satisfy demand, specific Rare Earth elements (Dy, Nd, Pr and Tb) could experience demand increase from 6 to 40-fold by 2050.
Electric Vehicles require a wide array of Rare Earths. There are three main types of Electric Vehicles traction motors in commercial use, which use permanent magnet synchronous motors (“PMSMs”), 93% of EV’s use PMSM’s. Rare Earths only follow Lithium & Cobalt when it comes to incremental commodity demand for Electric Vehicles.
Ionic is led by an experienced and proven team, who have the capabilities to systematically de-risk, develop and advance Makuutu into production and up the value curve.