IBOX - UNDER CONSTRUCTION Medallion Resources Ltd
Market Size
The value of global annual rare-earth oxide demand for the production of rare-earth magnets totaled $1.44 billion in 2016.
Longer-term forecasts see an increase in demand for the magnet-oriented rare-earth oxides to $6.07 billion by 2025, a compound annual growth rate of 17.4%.
(Source: Adamas Intelligence )
The benchmark China prices of NdPr has increased by approximately 30% in the last two years – after a prolonged market swoon – and demand is expected to remain robust for many years–and there are virtually no new significant mining projects in development to fill the demand void.