Lithium Valley Main Report 2018
Table 3 : Input value of typical NdFeB magnet
Element
% of magnet
Price $/kg
$ value/kg magnet
Neodymium (Nd)
29% - 32%
60.00
17.40 – 19.20 0.648 – 0.685 0.007 – 0.008 0.004 – 0.008 0.205 – 0.410 2.800 - 4.200
Iron (Fe) Boron (B)
64.2% – 68.5%
1.00 0.70 2.00
1.0% - 1.2% 0.2% - 0.4% 0.5% -1% 0.8% -1.2%
Aluminium (Al) Niobium (Nb) Dysprosium (Dy)
41.00
350.00
Total
21.064 – 24.511
Source: Future Smart Strategies
braking, drive-by-wire systems, etc). The power units on most mainstream EVs are designed around REE permanent magnets due to their motor’s cost and efficiency. Long term supply concerns continue to drive efforts to reduce the reliance on these magnets, however the efficiency and price advantages of REE permanent magnets continue to advantage them over alternatives. Domination of rare earth raw material supply has given China an enormous advantage in this growing magnet market. China is the largest producer of permanent magnets in the world, though a significant proportion is from non-Chinese owned companies or joint ventures. Processing and recycling these rare earth materials in WA is essential for participation in the New Energy metals global economy.
The selling cost of the completed magnet is close to $100 per kilo, a more than four-fold value increase. Considering the growing rate of global wind power and overall benefits of the permanent magnet synchronous generator (PMSG) wind turbines, the future demand for high- performing NdFeB magnet and its constituent elements is likely to rapidly increase. Any associated supply shortages or disruptions may have a dramatic impact on price rises of critical rare earth elements. The vehicle industry, both EV and internal combustion engines, is expected to be the fastest growing end-use industry segment in the global permanent magnet market over the next 5-10 years, not only due to the rising permanent magnet demand in the drive motors but also the increase in on-board actuators (autonomous steering, regenerative 4.6 Lithium Ion Battery Recycling The recycling of lithium ion batteries provides an opportunity for Australia to physically retain battery metals and will therefore reduce the overall energy and resources required to produce new batteries, as the lithium in
batteries is 100% recyclable. This has a direct impact on the exploitation of scarce resources and unsustainable extraction practices of components such as cobalt, 29 and reduces the health and environmental impacts from mining
29 Sanderson, H (2017), “LME’s cobalt inquiry highlights ethical issues for industry”, 24 November 2017, Financial Times, https://www.ft.com/content/930846c2-d047-11e7-b781-794ce08b24dc . (Accessed: 01 May 2018)
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