Demand for rare earth elements is growing.
Monazite and xenotime, which can be found in mineral sands deposits, are sources of rare earth elements used in an ever-expanding range of high tech consumer goods and low carbon technologies.
Medical science, manufacturing, electronics and renewable energy generation are some of the industries that rely on rare earth elements. Smart phones, televisions, computers, x-ray machines, cancer treatments, medical lasers, plastics, catalytic converters, fibre optics, rechargeable batteries, hybrid cars and wind turbines are just some of the products that use them.
Source: MCA Mineral Sands May 2020.
Praseodymium and Neodymium are light rare earth elements used to produce high-strength permanent magnets and commonly referred to as neodymium iron boron (NdFeB) magnets.
Dysprosium is added to Neodymium and Praseodymium to produce REPMs that retain their magnetic properties at elevated temperature.