The Pentagon and Toyota Automotive Industry Corp. are trying to break the global monopoly of rare earth mining. The application of rare earth is military unmanned aerial vehicles and electric vehicles.
U.S. Department of Defense and the largest car manufacturer in Asia are going to cooperate with Canada You Keer rare and Mata & Meck Exploration Company. The two companies are developing rare earth mine in North America, which will increase the supply of heavy rare earth. The heavy rare earth is the less storage elements among the 17 kinds of chemical elements. The 17 kinds of chemical elements for the production of wind turbine, automotive and weapons is essential high-performance magnet.
China has significantly reduced exports of rare earth; foreign buyers are forced to look for other rare earth suppliers. The reason for reducing export volume is that they reserve rare earth for the domestic industry. Previously, supply from China of rare earth met the needs of 95% of the world market; the share is three times of 1990. Which bring risk for new generation of foreign manufacturers of wind turbine technology and environmentally friendly lighting? rare earth magnets
CEO of Mata & Meck Exploration Company Andre Gauthier said: "The key to the race is which mineral mined out first."
Toyota Tsusho Corporation, the trade sector of toyota Group hold 49% shares with Mata & Meck exploration company, and provide funds for the feasibility study of Quebec kipawa project. Gauthier said that the Toyota will get dysprosium, and other minerals may be developed from the mines.
Washington lobbyed president Jeff Greenthe in J • A • Green company and said the U.S. Department of Defense may have to create a preliminary forming of the supply chain except China, to supply high proformance magnet including heavy rare earth for weapons systems He said: "heavy rare earth forever is not enough, the price will be firm, we are stuck here." Lifton said, to meet the emerging markets, automotive and consumer electronics products increase demand of magnet, this growth is necessary."
CEO of You Keer rare Jim McKenzie said largest heavy rare earth demand from the automotive industry and the aerospace industry.