• Neodymium-Praseodymium (NdPr) are two critical rare earth elements integral to the manufacture of rare earth permanent magnets.
   

• Rare earth permanent magnets are used in electric vehicles, wind turbines and advanced weapon systems.
   

• China dominates production of rare earths and rare earth magnets accounting for 80% of global production. 

• Each Electric Vehicle (EV) requires approximately 1kg to 2kg of NdPr which is used in rare earth magnets forming part of an EVs electric motors.
   

• EVs expected to grow from 3m to 125m by 2030.
   

• China is already a gross importer of rare earths and is soon to become a net importer of rare earths as structural supply-side and demand-side change occurs. 
   

• NdPr oxide currently trades at circa US$50kg with market analysts predicting oxide prices to hit between US$60kg and US$150kg after 2020 - Cummins Range is high in NdPr with 22% NdPr enrichment.

• Rare Earth Market Dominated by China – Strategic weakness for the United States of America.
  
  Only meaningful supplier outside of China is Lynas Resources Limited (ASX: LYC) – subject of recent unsuccessful takeover by Wesfarmers Limited (ASX:WES), the other Australian carbonatite.
   

• Demand for LREE Neodymium and Praseodymium being driven by growth in EV production and renewable energy.
   

• End-user preferred future supply to come from hard rock western world “sustainable” deposits like Cummins Range.
   

• Price for NdPr expected to increase.
   

• Significant structural change underway as China transitions to a net importer of rare earths.

One Stop Shop

Near 80% of rare earths supplied to U.S

Percentage of rare earths supplied to U.S