Where are the rare earth elements for future transportation needs?
Ronald W Thiessen, President & CEO of Northern Dynasty Minerals says “a challenge looms on the horizon, threatening the future of electric and hybrid vehicles, as well as many other nascent alternative energy technologies: an exploding market could lead to a critical worldwide shortage of rare earth elements (REEs), raw materials required for manufacturing. Lanthanum and neodymium, both REEs, are essential components in Lithium-ion and nickel-metal hydride batteries -the key technology enablers in the development of these vehicles. Cars also require some 2 kg of neodymium – another REE with production currently a mere 17,000 t/y. Even though hybrids and clean energy technologies consume a small fraction of worldwide output of these metals, we are already seeing strains on global supplies. A price hike caused by supply shortage could lead to prohibitive cost increases for hybrid purchasers. “Though the technology for electric and hybrid cars is still in its infancy, many signs point to
