Rare-Earths
Rare-Earths are a set of 17 metallic elements, comprised of the 15 lanthanides on the periodic table along with scandium and yttrium. Rare-Earths are essential components of permanent magnets, which are themselves used in the construction of technologies that provide clean energy (such as wind turbines and electric vehicles).
The increased demand for Rare-Earths has largely been driven by the growing worldwide adoption of wind turbines and electric vehicles. The capacity for installed wind energy, after more than 40 years of accumulation, is expected to reach one terawatt by the end of 2023 and two terawatts within eight years.1 Similarly, global sales of electric vehicles have increased by a factor of 100 over the last decade and more than tripled in the last three years.2
As a response to this global demand, FYI Resources aims to solidify its position as an innovative critical minerals developer by entering the rare earths sector through the introduction of its Rare-Earths Strategy, the first step of which is the staged acquisition of Minhub Operations Pty Ltd.
1 Global wind energy to top 1 TW threshold by the end of 2023 | Wood Mackenzie
2Global EV Data Explorer – Data Tools – IEA
The many uses of Rare-Earths
Rare-Earths in Electric Cars
Catalysts
- Petroleum refining
- Chemical processing
- Catalytic converter
- Diesel additives
Electronic
- Display phosphors
- Medical imaging phosphors
- Lasers
- Fiber optics
- Optical temperate sensors
Glass
- Polishing
- Optical glass
- UV resistant glass
- Thermal control mirrors
- Colorizers/Decolorizers
Ceramics
- Capacitors
- Sensors
- Colorants
- Scintillators
Metal alloys
- Hydrogen storage
- Steel
- Lighter flints
- Aluminum/ Magnesium
- Cast Iron
- Superalloys
Magnets
- Motors
- Disc drives and disc drive motors
- Power generation
- Actuators
- Microphone & speakers
- MRI
- Anti-lock brake system
- Automative parts
- Communicative systems
- Electric drive & propulsion
- Frictionless bearing
- Magnetic storage disk
- Microwave power tubes
- Magnetic refrigeration
- Magnetostrictive alloys refridgeration
Other
- Water Treatment
- Fluorescent Lighting
- Pigments
- Fertiliser
- Medical tracers
- Coatings
Minhub Operations Pty Ltd
Minhub Operations was specifically established to develop the Minhub Project, an independent collaborative mineral separation plant in the Northern Territory capable of processing emerging deposits with high rare earth content, aiming to reduce the significant barriers to entry for these projects imposed by opaque markets, dominant industry players and hurdles to approvals.
Minhub will be jointly funded by FYI Resources and Arafura Rare Earths Limited. Minhub Operations, as a 100% subsidiary of FYI, will act as project manager throughout the feasibility stages and operate the project once in production.
