Australian rare earth explorers post strong 2021 on robust demand

Vital Metals

30/12/2021 01:31

** Shares of Australian rare-earth explorers posted strong
gains in 2021, as electric vehicles continued to gain popularity
amid a global push to reduce carbon emissions
    ** Lynas Rare Earths  LYC.AX , the largest rare earths
producer outside China, has risen more than 2.5 times in value
this year and is on course to notch its best year since 2017
    ** China is the largest global processor of rare earths, a
grouping of 17 metals that are used in a wide range of products,
including electric vehicles, smartphones and military equipment
    ** Demand for rare earth materials rebounded this year from
a pandemic-driven drop in 2020
    ** Rare earths have become a key strategic consideration for
the United States as it looks to reduce reliance on China
    ** Arafura Resources  ARU.AX  and Vital Metals  VML.AX  are
both set to end the year nearly 60% higher
    ** Ionic Rare Earths  IXR.AX  is on course to record its
biggest yearly gain since 2016
    
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))