USA Rare Earth to Ramp Up Production with Top Round Project
- December 13, 2021
- Posted by: Quatro Strategies
- Category: Mining
In a press release, Texas based USA Rare Earth said it expects to produce nearly half of critical minerals in the US Geological Survey’s (USGS) revised list. The company said it is committed to developing the Round Top heavy rare earth, lithium and critical minerals project in Hudspeth County to domestically supply the critical minerals.
The company statement underlined that USA Rare Earth is aiming to produce nearly half of the critical minerals identified by the USGS, including gallium, which is prioritized in the revised list.
The company statement also said its Round Top Project was identified by the USGS as the largest gallium deposit in the United States. Gallium is an important material that is used in semiconductor production. There are currently no US producers of the material.
The USGS identified 16 rare earth minerals as critical including gallium, neodymium, dysprosium, praseodymium, and terbium.
The MP Materials Corp’s Mountain Pass mine in California is currently the only active rare earth mine in the United States.
Get your daily Business Brief
Business Brief delivers the latest insights straight to your inbox
You'll get daily industry insights on
Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business
Read more insights
GM Invests in Canadian Battery Recycling Company to Secure Lithium Supply
General Motors (GM) invests in Canadian battery recycling firm Lithion Recycling to accelerate efforts to secure lithium supply. Although the financial details have not been revealed, the agreement is set to create a partnership between the world’s second largest automaker and the Quebec-based company to pursue a circular battery ecosystem using Lithion’s technology. The companies said an analysis show that Lithion’s technology has a recovery rate of 95%. Since it uses renewable energy, the company’s technology and operations is expected to reduce greenhouse gas emissions by over 75% and water usage by over 90% compared to mining battery materials.
Gazprom Sets Apart Additional Resources for Nord Stream 2
Russian gas giant, which built the Nord Stream 2, plans to spend $305 million for the gas pipeline in 2022.
EU Wants the Same Treatment as Canada, Mexico from the U.S. IRA
Czech Republic trade minister Sikela said the EU has asked for the same treatment from the U.S. as Canada and Mexico regarding electric vehicles (EVs), batteries and sustainable energy equipment sold in the United States. The bloc has been complaining that the U.S. Inflation Reduction Act (IRA), which was signed into law by Biden in August, discriminates against EU producers as it lays out tax breaks on such goods only made in North America.