Methods to Predict Revenue from Primary & Secondary Rare Earth Element Sources

Hightlights

• Researchers assess REE value estimation through price forecasting.
• Industrial and electronic wastes evaluated for REE revenue potential.
• Results guide investment and development priorities.

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Summary

As reported in the peer-reviewed journal Resources, Conservation and Recycling (opens in a new tab), the outcomes from the recently published study suggest that industrial wastes, particularly electronic wastes, could become a critical source of rare earth elements (REEs) for some regions. This implies the need for robust characterization of domestic secondary resources. When measured on a per ton basis, the potential revenues from industrial wastes are not that great, driven by scandium oxide content. However, electronic waste revenue potential appears high, driven by neodymium oxide; and primary ores value and source of value depends on deposit. For all source materials except sea nodules and NiMH batteries, rare earth oxides (REOs) represent the largest source of revenue. While an important approach, revenue estimates represent one tool for prioritizing projects. Each result identified and discussed in the study raises implications for development.

Source: Resources, Conservation and Recycling

Why is this study result important for governments and R&D centers to understand?

Because worldwide governments are interested in securing a stable source of REEs. Such a trend leads to government intervention for technological and industrial development of REE sources.

However, due to the reality that government budgets are limited and allocated among a portfolio of technologies, a decision support framework becomes essential.

REE project development prioritization represents a multi-criteria problem, yet potential revenue is a key parameter for decision-making.

What are some example material outcomes from this study?

When comparing various REE sources, for example, the monazite from Mount Weld Australia represents greater potential value than China.

Why do governments need to be collecting data to document the extent and quality of REE deposits?

Governments and industry must ensure a profitable endeavor, meaning some regions may be “endowed” with ore or waste with high REO content, making extraction from this source more profitable. “Scientists and engineers engaged in such development should pay careful attention to the quality of the sample sources being used. If unusually REE rich/poor samples are used, results might be skewed towards profitability or vice versa,” reports Gupta and colleagues.