Wind turbine-makers should get into mining to secure rare-earths

Wind turbine companies relying on direct-drive models need to get more involved in the rare-earth metals industry if they want to manage price spikes and the scarcity of permanent magnets used in generators, says Gareth Hatch, co-founder of specialist analyst Technology Metals Research.

Hatch says the price of neodymium, the key rare metal used in producing the magnets, has gone up by a factor of ten over the past 12 months, while the magnets have risen from about $40-$50 per kg to $250-300.

Neodymium price rises have been higher outside China, but even in the Asian giant, where supplies are currently mined they have increased sharply since the beginning of February — and magnet prices have also shot up.

Crucially, the availability of magnets has deteriorated, and lead times have gone up from eight to 12 Log in to read complete article.

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login


Recharge Monthly Magazine