Industrial Minerals


Clean-tech to drive RE growth

22 March 2010

by Mark Watts

Molycorp: Magnets used in clean energy technology will underpin rare earth demand

Keywords: Molycorp, rare earths, neodymium, praseodymium, clean energy

Clean energy technology (clean-tech) will be the main driver of rare earths demand in coming years as rare earth-based permanent magnets are used in an increasing number of growing industries, according to Mark A. Smith, the chief executive officer of Molycorp Minerals LLC.“The real huge growth area is in clean-tech and that's where, if you start using permanent rare earth magnets in wind turbines, hybrid cars and electric vehicles, all of a sudden the growth of mineral use becomes almost exponential,” Smith...