Medallion Completes Process Engineering Work for Rare-Earth Element Extraction - Seite 2

The Medallion process allows for a relatively rapid and low-capital production of REEs–there is no requirement to build or permit a mine or upgrade an operation. Feedstock can be sourced within the United States and shipped to a rare-earth extraction plant, designed to readily scale up as required.

Value Chain Schematic: https://www.globenewswire.com/NewsRoom/AttachmentNg/c2dff4fb-f763-4baa ...

The Process Engineering Design was completed by Australian-based Simulus Engineers, an independent engineering consultancy. Simulus undertook chemical process modelling of Medallion’s proprietary monazite caustic crack process and prepared all required process flow diagrams.

Key Magnet Metals — Neodymium and Praseodymium (NdPr)

Due to the high Neodymium and Praseodymium (together referred to as “NdPr”) content of monazite, output from Medallion’s proposed plant is rich in these most critical REEs. NdPr is the key ingredient for the manufacture of high-strength permanent magnets (“NdFeB magnets”), which are essential to the lightweight and powerful motors required in EVs, defense applications, and numerous clean technologies. In motors, NdFeB magnets enable electrical energy to be converted to mechanical energy with maximum efficiency. They are favored by EV manufacturers to improve performance and battery range.

Most current and planned EV and hybrid models, including the Tesla Model 3, incorporate NdFeB magnets as a key component in the traction motor. While internal gas and diesel-powered vehicles each use approximately 0.7 kg of NdPr for accessory electric motors, EVs and hybrid vehicles require on average an additional 140% NdPr. Adamas Intelligence (Electric Growth: EVs Motors and Motor Materials, 2019 H2) forecast that NdFeB magnet demand for traction motors will increase NdPr usage from 3,000 tpa in 2018 to approximately 28,000 tpa in 2030, representing a 12-year increase exceeding 900%. Given projected NdPr shortages, prices of Nd and Pr are forecast to more than double over that timeframe.

Presently, on a global basis, the automotive sector represents approximately 50% of total NdPr usage and NdPr represents the majority of the REE market by value (Total annual REE market: approximately $4B). For more on how the EV and hybrid vehicle will impact the rare-earth marketplace see this report from Adamas Intelligence: “Electric Growth: EVs, Motors and Motor Materials”.