LCM to assess potential for UK RE magnet supply chain

UK-based Less Common Metals (LCM) has been awarded funding by Innovate UK to conduct a feasibility study to identify the requirements for establishing a fully-integrated supply chain for rare earth permanent magnet production in the UK.

LCM will evaluate raw material sources, the production of concentrates and their separation into individual rare earths before they are processed on site, and also alloys for supply to a magnet production facility.

Rare earth-based permanent magnets are the most powerful magnets commercially available and are increasingly in demand for use in a number of growing sectors including electric vehicles [EVs] and offshore wind turbines. European manufacturing industries consume 12,000t/yr of light rare earth neodymium-based magnets, but the continent only produces around 1,000t/yr and these are mainly for niche applications, such as the luxury vehicle market. The balance comes from China, which produces around 80pc of the world's rare earth materials and magnets.

LCM managing director Ian Higgins welcomed the funding award, noting the firm's extensive knowledge of both upstream processing of rare earths and of the downstream magnet industry, as the only rare earth magnet alloy producer outside China and Japan. LCM produces high purity rare earth metals, and neodymium-iron-boron and samarium cobalt alloys for the permanent magnet industry at its plant in Cheshire, northwest England. It also makes other rare earth alloys including hydrogen storage, and master alloys such as yttrium-aluminium and lanthanum-nickel.

Innovate UK is part of UK Research and Innovation, a non-departmental public body that operates at arm's length from the UK government. Last week, it committed to co-funding a A$1.8mn study by Australian graphite producer Talga Resources into the establishment of the UK's first anode refinery, a further step toward shoring up the UK's metal supply chains as the EV sector grows.

By Ellie Saklatvala