Northern Minerals Ltd
Northern Minerals Ltd (ASX:NTU) is listed on the Australian Securities Exchange.
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Northern Minerals wants new pricing model for dysprosium to support demand from the US military
Northern Minerals Ltd (ASX:NTU) managing director and chief executive officer George Bauk told the audience at the RIU explorers conference that the current pricing model for dysprosium doesn't support the looming rare earths crisis in the US.
Around 100 grams of dysprosium is used in the magnets in electric vehicles and with both India and China aiming for 100% EV by 2030, that's a potential market of more than 3 billion people and the price does not reflect that demand.
Bauk told Proactive Investors he was disappointed when the price spiked in mid-2019 only to fall back down by the end of the year.
He said: "All of a sudden, the trend reversed.
"It just didn't make sense with all the rhetoric coming out of the US and other countries about the crisis in rare earths and yet the price isn't supporting it.
"We've really got to get people back into believing in rare earths and get the equity markets to back it."
Other Northern Minerals Ltd news
- Northern Minerals on-track with R&D to ramp-up Browns Range Heavy Rare Earth Project restart
2020-09-01 - Northern Minerals boosts Dazzler rare earths resource estimate more than 50%
2020-04-07 - Northern Minerals secures $2.5 million in funding via convertible note
2020-03-02 - Northern Minerals welcomes reversal of decision on R&D tax claims
2020-02-25 - Northern Minerals receives further $200,000 in subscription funds as part of $30 million placement
2020-01-14
