What we do
The end of REN is a concentrate of mixed rare earths. This will be sold to customers for separation into the 15-17 different types of rare earths. After separation, the different rare earth types are sold into different markets. Rare earths for magnets, the powder-like oxides are converted into metals which are ultimately used to manufacture magnets in a wide range of sizes. For electric vehicles, the permanent magnets facilitate optimal utilization of the electric power stored in the batteries, thus maximizing the vehicles’ driving range. Permanent magnets in wind turbines help maximize the amount of electric power generated from wind power.
Permanent magnets play an important role in green energy – both in its generation and in ensuring that it is used as efficiently as possible.
The end product for the value chain is permanent magnets or supermagnets, for use in a wide range of modern products including electric cars and wind turbines. Without these magnets, these products would simply not work. The end products requires normally 4 stages where REN covers the first from mining and the process of extraction the REE minerals from the ore. Our end product is a concentrate of typically 99% which in turn is sold to a separation processor. The separation process splits the different types of REE – normally 15-17 different types. Some of the types are comparable and some are very different in structure and what they can do. The 2-3 types utilized in permanent magnets are very different also in market value compared to the types used for e.g. polishing of glass, used in catalysts for cars etc. which has the highest volume but also lowest value.
The end product from the separation process is an oxide which easily can be identifies by variations in color. After separation, the different products are sold into different markets. For the magnet related types of REE, the oxides follows into a metal making process, converting a powder like oxide into metals for use in the last stage: making permanent magnets which has a wide range of sizes. For electric cars, the magnets provides an optimal utilization of electricity from the batteries with the advantage of longest possible driving range. For wind turbines the advantage is more electricity from more wind.
So both electric use and electric production are utilizing the advantages from permanent magnets.