GE Renewable Energy to Source Rare Earths from Australia’s Arafura

Australia’s Arafura Resources and France-based turbine manufacturing division of General Electric (GE) signed a memorandum of understanding (MoU) for neodymium-praseodymium (NdPr) supply, as the world accelerates efforts for transition to clean energy. Under the MoU, GE Renewable Energy will purchase NdPr from the miner to manufacture offshore wind turbines.

Arafura announced the deal during the Sydney Energy Forum, where Australia joined the Mineral Security Partnership, along with a host of nations including the United States in a bid to secure global supply chains for critical minerals such as NdPr, which are crucial for the transition to clean energy technology.

Australia is home to vast resources of critical minerals such as lithium and cobalt. These minerals are crucial for clean technologies such as electric vehicles (EVs) and wind turbines.

Demand for NdPr soared in recent years as countries and companies pivot towards cleaner energy to fight climate change.

The deal also outlines a potential strategic equity investment by GE in Arafura that will be considered and negotiated in due course.

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