In Order To Reduce Dependence On China, Britain Plans To Resume Production Of Rare Earth Magnets

In order to get rid of the dependence on China, a rare earth producing country, it is said that Britain is planning to resume the production and manufacturing of rare earth magnets in China and achieve important carbon emission reduction at the same time.

Rare earth is known as the "science and technology metal of the 21st century". It can be used in aerospace parts, electronics, laser, nuclear energy industry, superconductors, etc. it can also improve the properties of steel, aluminum, magnesium and other alloy materials. It is an indispensable additive in today's high-tech industry. China, which has a high strategic position in rare earth and accounts for 60% of the world's output, significantly reduced its rare earth exports by more than 20% in 2020. In addition, the current atmosphere between the Chinese and Western camps is treacherous. In order not to be subject to China, western countries have successively sought other ways.

Statistics show that the British rare earth magnet production industry disappeared in the 1990s because it was unable to compete with China. At present, more than 90% of the rare earths used in the UK are processed in China. However, with the increasing demand, it was reported that the British government was looking for alternatives in April, hoping to get rid of its dependence on China as soon as possible.

Reuters reported on the 5th that with the support of the British government, local production of rare earth permanent magnets will be restarted. A feasibility study to be published on the 6th and funded by the government also lists the steps that must be taken in the production of rare earth permanent magnets as raw materials for the manufacture of electric vehicle motors and wind turbines in the future, and achieve important carbon emission reductions.

The report said that the British rare earth producer rare metals company (LCM) has written the feasibility study report and is considering looking for partners to build a plant together. LCM is one of the few non Chinese companies that can convert rare earth raw materials into special compounds for the production of permanent magnets.

According to the source, the study also outlines how to build a factory and eventually produce enough powerful magnets by 2024 to meet the demand of 1 million electric vehicles per year. The magnet plant will also achieve its goal for the UK to ban the use of gasoline and diesel vehicles by 2030 and reduce carbon emissions to net zero by 2050.

The report pointed out that because the report has not been released, the UK Department of Commerce, energy and industrial strategy will not comment on the details of the magnet factory for the time being. A spokesman only said in an email that the British government would continue to cooperate with investors through the auto transformation Fund (ATF) to promote the plan to establish a globally competitive electric vehicle supply chain in the UK.