High Voltage: Why is everyone getting so excited about rare earths?

Mining Reuben Adams
ASX rare earths stocks

Screaming teenage Beatles fans in America. (Photo by William Lovelace/Getty Images)

  • Investor sentiment for rare earths stocks is flying
  • There is about 750g of magnet rare earths on every EV motor, about 2 tonnes in offshore wind turbines
  •  EVs, wind turbines are exponential growth sectors

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, manganese, magnesium, and vanadium.

 

Everyone knows the lithium bull is well and truly charging, but what the hell just happened to rare earths sentiment?

It’s flying, that’s what.

Project acquisitions, drilling, high grade rock chips (not worth a re-rate on their own) — even a sniff of REE prospectivity has ASX minnows enjoying huge gains.

In the past few weeks these things have happened:

Every single one of these announcements sparked a +20% share price spike. Very lithium-esque.

Then there’s Lynas Rare Earths (ASX:LYC), which yesterday announcing a major disruption to production at its downstream separation plant in Kuantan, Malaysia. That’s bad news.

And yet its share price actually increased, before finishing flat for the day.

 

Why the step change in investor sentiment?

We called Ionic Rare Earths (ASX:IXR) managing director Tim Harrison, who was in London recovering from jet lag, with some questions.

“There is about 750g of magnet rare earths on every EV motor,” Harrison told Stockhead.

That adds up quickly if BNEF’s prediction is correct and ~40m EVs are sold each year by 2030.

Then there’s the gigantic offshore wind turbines.

Pic: Via Getty.

“Some of the beasts they are building now have 6 tonnes of magnets in them, or about 2 tonnes of rare earth metals,” Harrisons says.

“And then you look at the number of wind turbines set to be installed over the next 30 years … and yeah. There’s a [supply] conundrum.

“This is an application where substitution is not an option.”

So, there it is. Two industries, growing exponentially, in tandem, and both requiring large amounts of rare earths.

No wonder everyone is excited.

 

Battery Metals Winners and Losers

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese, and vanadium is performing>>>

Battery metals stocks missing from our list? Shoot a mail to [email protected].

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
CRR Critical Resources 54% 9% -13% 186% 0.063 $74,400,761.95
ODE Odessa Minerals 50% 50% 85% 380% 0.024 $15,577,382.13
KOR Korab Resources 46% 17% -15% 86% 0.041 $12,846,750.00
GL1 Globallith 43% 29% 52% 521% 2.42 $388,810,727.20
ASN Anson Resources 42% 170% 252% 268% 0.405 $381,285,562.77
SYA Sayona Mining 41% 31% 125% 133% 0.36 $2,948,035,086.39
BMM Balkanminingandmin 41% 32% -5% -68% 0.26 $8,515,000.00
BKT Black Rock Mining 39% 5% -15% 5% 0.195 $200,350,428.62
FRS Forrestaniaresources 38% 64% -19% 0% 0.27 $9,007,552.08
MMC Mitremining 38% 57% 0% 0% 0.18 $4,739,892.50
SGQ St George Min 38% 6% -48% -51% 0.033 $23,100,587.66
CLZ Classic Min 38% -31% -85% -85% 0.022 $5,788,803.91
WC8 Wildcat Resources 37% 23% 23% 61% 0.037 $23,229,818.17
LPM Lithium Plus 34% 8% 0% 0% 0.745 $34,356,014.00
PNN Power Minerals 34% 17% 56% 111% 0.655 $40,334,971.40
RR1 Reach Resources 33% 100% 0% 0% 0.008 $13,370,354.47
E25 Element 25 33% 14% -12% -60% 0.83 $123,695,398.89
AS2 Askarimetalslimited 31% -1% 8% 110% 0.42 $18,027,708.00
OCN Oceanalithiumlimited 29% 46% 0% 0% 0.75 $22,797,000.00
AGY Argosy Minerals 28% 28% 46% 197% 0.52 $669,844,279.58
PLS Pilbara Min 28% 52% 65% 131% 4.745 $13,638,981,966.93
RFR Rafaella Resources 27% 36% -31% -57% 0.038 $8,424,715.47
EUR European Lithium 27% 16% 3% 28% 0.1025 $123,221,047.40
WR1 Winsome Resources 26% 14% -6% 0% 0.335 $42,560,908.11
GLN Galan Lithium 26% 8% 5% 41% 1.48 $437,057,779.24
VRC Volt Resources 25% 38% 96% -19% 0.0275 $89,657,921.98
RNU Renascor Res 25% 5% -17% 67% 0.225 $454,635,599.25
TNG TNG Limited 25% 14% 92% 52% 0.125 $166,610,186.64
LEL Lithenergy 24% 7% 34% 109% 1.2 $54,180,000.00
MIN Mineral Resources. 24% 25% 60% 39% 74.13 $13,841,422,229.88
CXO Core Lithium 22% 13% 53% 389% 1.6625 $2,762,140,616.04
LPI Lithium Pwr Int 22% 15% 21% 156% 0.73 $233,927,048.16
PUR Pursuit Minerals 21% 0% -15% -65% 0.017 $15,970,867.10
GT1 Greentechnology 21% 14% 11% 0% 0.835 $158,312,866.19
EMH European Metals Hldg 20% -8% -24% -43% 0.865 $101,777,702.90
THR Thor Mining PLC 20% 26% -14% -20% 0.012 $12,090,796.58
AZL Arizona Lithium 20% -8% -31% 143% 0.097 $209,663,523.81
NVX Novonix Limited 19% -19% -53% -59% 2.42 $1,099,896,583.04
LEG Legend Mining 19% -23% -35% -41% 0.044 $110,205,428.84
AKE Allkem Limited 19% 29% 51% 78% 16 $9,902,830,075.58
QXR Qx Resources Limited 19% -18% -30% 167% 0.032 $25,780,869.63
EMS Eastern Metals 18% -21% -30% 0% 0.13 $5,025,312.50
SYR Syrah Resources 18% 23% 41% 47% 1.93 $1,259,774,480.92
NMT Neometals 17% 12% 4% 93% 1.535 $875,469,215.18
AZS Azure Minerals 17% -14% -41% -37% 0.2225 $69,915,537.23
IGO IGO Limited 17% 24% 17% 55% 14.89 $11,086,400,782.32
CLA Celsius Resource 17% 8% -26% -53% 0.014 $20,921,152.60
LKE Lake Resources 16% -7% -1% 146% 1.2775 $1,751,366,873.34
MRR Minrex Resources 15% -14% -4% 238% 0.054 $55,977,464.56
EVR Ev Resources 15% -3% -34% -6% 0.031 $27,779,522.13
BNR Bulletin Res 15% -3% 3% 74% 0.155 $45,351,620.50
EVR Ev Resources 15% -3% -34% -6% 0.031 $27,779,522.13
PEK Peak Rare Earths 15% -12% -20% -35% 0.55 $115,078,438.04
CHR Charger Metals 14% 3% -17% -4% 0.555 $17,267,948.55
KAI Kairos Minerals 14% 0% 33% 0% 0.032 $64,815,085.20
DVP Develop Global 14% 2% -25% -12% 2.59 $407,862,491.63
1MC Morella Corporation 14% 14% 14% -55% 0.0285 $167,203,727.79
INR Ioneer 14% 0% 37% 6% 0.7 $1,374,277,819.78
BEM Blackearth Minerals 14% -6% -10% -27% 0.099 $25,720,891.09
COB Cobalt Blue 13% -1% 19% 165% 0.86 $274,049,679.71
VR8 Vanadium Resources 13% 18% 12% 43% 0.087 $42,142,601.29
EMT Emetals Limited 13% 100% 13% -14% 0.018 $16,150,000.00
WIN Widgienickellimited 13% -5% -34% 0% 0.315 $81,315,000.00
AXE Archer Materials 12% -4% -15% -53% 0.82 $206,227,781.81
REE Rarex Limited 12% -14% -32% -35% 0.065 $34,765,518.82
QPM Queensland Pacific 12% 12% 12% -26% 0.1625 $234,541,969.65
BOA Boadicea Resources 12% 0% -28% -24% 0.14 $10,877,985.30
BRB Breaker Res NL 12% 2% -8% -6% 0.235 $78,201,822.96
BSX Blackstone 12% -24% -55% -59% 0.2125 $104,109,549.50
ESS Essential Metals 12% -5% 39% 197% 0.52 $126,216,041.85
POS Poseidon Nick 12% 2% -36% -52% 0.058 $165,453,814.40
RAG Ragnar Metals 11% -19% 24% -9% 0.039 $14,788,210.67
A8G Australasian Metals 11% 7% -36% 9% 0.3 $12,351,148.20
LMG Latrobe Magnesium 11% -1% -2% 291% 0.09 $141,752,742.12
ENT Enterprise Metals 11% -9% -29% -41% 0.01 $6,529,806.88
PNT Panthermetals 11% -15% -15% 0% 0.2 $5,337,500.00
ARR American Rare Earths 11% -30% -35% 70% 0.255 $108,873,295.76
RAS Ragusa Minerals 11% 82% 364% 219% 0.255 $32,161,017.00
AML Aeon Metals . 11% 3% -35% -44% 0.031 $34,989,784.74
TON Triton Min 11% 15% 7% 0% 0.031 $39,022,309.49
VUL Vulcan Energy 11% -11% -10% -47% 8.47 $1,139,515,642.95
FG1 Flynngold 11% 18% -34% -30% 0.105 $6,726,410.25
ARU Arafura Resource 10% 34% 74% 150% 0.375 $663,960,052.53
LRS Latin Resources 10% 5% 174% 180% 0.115 $234,371,238.24
CAE Cannindah Resources 9% -4% -36% 186% 0.24 $128,068,922.43
ASO Aston Minerals 9% -1% -45% -39% 0.091 $100,217,784.06
CAI Calidus Resources 9% -10% -28% 8% 0.61 $264,857,931.53
JRV Jervois Global 9% 21% -26% 7% 0.55 $828,264,273.75
RGL Riversgold 9% -5% 17% 32% 0.037 $28,682,027.63
KZR Kalamazoo Resources 9% -7% -17% -31% 0.25 $32,404,762.28
SBR Sabre Resources 8% 30% 30% 44% 0.0065 $16,738,386.05
IPX Iperionx Limited 8% 9% -5% -25% 0.925 $131,461,459.09
PGM Platina Resources 7% -12% -42% -57% 0.029 $14,607,949.64
NIC Nickel Industries 7% -13% -17% -8% 0.9925 $2,608,366,189.64
LOT Lotus Resources 7% 7% -30% 7% 0.2575 $320,486,536.61
LPD Lepidico 7% 0% -6% 25% 0.03 $195,215,736.99
PAN Panoramic Resources 7% -4% -25% 0% 0.225 $481,964,790.94
S2R S2 Resources 7% -3% -14% 53% 0.15 $53,456,228.25
TLG Talga Group 7% 5% -2% 2% 1.43 $430,014,071.79
AVL Aust Vanadium 7% -12% 24% 109% 0.046 $182,508,747.76
ESR Estrella Res 7% -6% -47% -62% 0.016 $18,584,515.50
LRV Larvottoresources 7% -6% 30% 0% 0.24 $9,760,137.50
LTR Liontown Resources 7% 5% 11% 78% 1.78 $3,843,761,862.50
WCN White Cliff Min 7% 75% -6% 88% 0.0245 $15,686,480.69
VML Vital Metals Limited 6% -10% -12% -33% 0.0415 $224,622,132.40
HXG Hexagon Energy 6% -11% -67% -79% 0.017 $8,719,570.32
AUZ Australian Mines 6% -10% -54% -64% 0.085 $39,371,962.64
MLS Metals Australia 6% -26% -25% 33% 0.053 $30,958,845.74
G88 Golden Mile Res 6% 20% -42% -35% 0.036 $7,365,231.22
CTM Centaurus Metals 6% 9% -10% 8% 1.175 $493,307,745.32
ILU Iluka Resources 6% 3% 4% 6% 10.38 $4,289,030,479.17
CZN Corazon 6% 0% -44% -46% 0.019 $10,985,950.03
MQR Marquee Resource 6% -18% -23% 9% 0.076 $24,618,171.24
EGR Ecograf Limited 5% -19% -26% -53% 0.395 $173,378,381.72
PRL Province Resources 5% -31% 9% -39% 0.1 $116,967,821.16
AX8 Accelerate Resources 5% 8% -15% -5% 0.04 $9,736,520.36
ARL Ardea Resources 5% -13% 13% 118% 0.93 $160,402,194.54
MRC Mineral Commodities 5% -2% -29% -41% 0.085 $43,374,741.35
NTU Northern Min 5% 5% -16% 2% 0.043 $204,140,634.56
CNB Carnaby Resource 5% -13% -34% 121% 0.86 $122,876,759.90
BUX Buxton Resources 5% 22% 5% 45% 0.11 $16,041,200.34
PLL Piedmont Lithium Inc 5% 14% -6% 21% 0.9 $472,175,866.00
IXR Ionic Rare Earths 5% -18% -24% 41% 0.045 $166,522,011.56
CNJ Conico 5% 29% 279% -29% 0.045 $64,018,596.88
GSR Greenstone Resources 5% -3% 84% 134% 0.068 $75,848,665.61
IG6 Internationalgraphit 4% 16% 0% 0% 0.355 $27,298,516.18
GAL Galileo Mining 4% 4% 391% 279% 1.08 $207,278,673.00
SRL Sunrise 4% 15% 46% 86% 3.15 $291,787,527.96
S32 South32 Limited 4% 7% -12% 26% 4.325 $19,670,834,232.00
CZL Cons Zinc 4% 0% -11% -11% 0.025 $8,909,229.70
ARN Aldoro Resources 4% -7% -25% -47% 0.255 $25,394,765.84
OZL OZ Minerals 4% 4% 5% 14% 26.675 $8,746,887,869.07
GME GME Resources 4% 24% 57% 120% 0.13 $78,052,132.34
BHP BHP Group Limited 4% 1% -7% 7% 39.4 $199,643,988,111.96
LYC Lynas Rare Earths 4% -9% -14% 24% 8.825 $7,959,269,906.28
MTM Mtmongerresources 4% 21% -6% -34% 0.145 $5,626,504.95
NWC New World Resources 3% -6% -35% -44% 0.034 $64,641,598.77
MEK Meeka Metals Limited 3% 4% 40% 49% 0.07 $69,857,189.49
INF Infinity Lithium 3% 23% 31% 98% 0.19 $78,852,482.54
FRB Firebird Metals 3% -7% -49% -68% 0.195 $11,933,274.96
OD6 Od6Metals 3% 15% 0% 0% 0.195 $9,868,099.20
ZNC Zenith Minerals 3% 1% -11% 26% 0.3025 $103,428,683.70
SCN Scorpion Minerals 3% 23% 25% 29% 0.081 $27,210,157.74
GBR Greatbould Resources 3% -15% -34% -34% 0.1025 $44,401,578.17
PAM Pan Asia Metals 2% -4% -14% -8% 0.445 $29,937,698.01
CHN Chalice Mining 2% -6% -43% -34% 4.545 $1,572,922,270.92
PSC Prospect Res 2% -20% 128% 462% 0.096 $45,301,427.28
KTA Krakatoa Resources 2% -10% 39% -10% 0.061 $21,372,014.85
AAJ Aruma Resources 1% -14% -17% -30% 0.068 $10,673,382.20
VIA Viagold Rare Earth 0% 0% 0% 1329% 2 $166,624,808.00
HNR Hannans 0% 0% -36% 112% 0.021 $54,731,701.00
AVZ AVZ Minerals 0% 0% -13% 200% 0.78 $2,752,409,203.44
RLC Reedy Lagoon Corp. 0% -6% -38% -30% 0.016 $9,476,257.50
GED Golden Deeps 0% 15% 50% 30% 0.015 $17,328,400.71
ADV Ardiden 0% -11% -38% -47% 0.008 $18,678,347.49
CWX Carawine Resources 0% -9% -53% -50% 0.1 $13,783,434.70
TKL Traka Resources 0% 0% -30% -46% 0.007 $4,821,421.93
FFX Firefinch 0% 0% -28% -6% 0.2 $236,248,644.20
ATM Aneka Tambang 0% 0% 4% 15% 1.15 $1,499,196.35
AQD Ausquest Limited 0% -11% -6% -11% 0.017 $14,852,686.01
LML Lincoln Minerals 0% 0% 0% 0% 0.008 $4,599,869.49
WKT Walkabout Resources 0% 0% -12% -2% 0.173011 $78,248,343.26
VMC Venus Metals Cor 0% -3% -11% -3% 0.17 $26,412,982.70
EFE Eastern Resources 0% -15% -38% 7% 0.029 $29,195,190.30
AM7 Arcadia Minerals 0% 79% 16% 18% 0.26 $12,141,451.92
BYH Bryah Resources 0% -5% -40% -42% 0.028 $8,098,350.75
IMI Infinitymining 0% 37% 14% 0% 0.205 $11,787,500.00
LSR Lodestar Minerals 0% -13% -42% -30% 0.007 $12,169,061.44
TSC Twenty Seven Co. 0% -5% -29% -5% 0.002 $5,321,627.81
WML Woomera Mining 0% -6% -11% -27% 0.016 $10,989,329.06
CMO Cosmometalslimited 0% -3% -9% 0% 0.145 $3,698,950.00
AOA Ausmon Resorces 0% 45% 0% 14% 0.008 $6,858,314.74
AVW Avira Resources 0% 14% -20% -20% 0.004 $8,475,160.00
FTL Firetail Resources 0% -2% 0% 0% 0.25 $16,063,450.00
XTC Xantippe Res 0% -10% 29% 500% 0.009 $65,161,838.80
TMT Technology Metals -1% -4% 0% -13% 0.35 $74,487,717.74
EMN Euromanganese -2% -18% -20% -46% 0.32 $78,936,077.79
MCR Mincor Resources NL -2% 2% -1% 52% 2.065 $1,005,601,916.20
JRL Jindalee Resources -2% -15% -13% -28% 2.47 $142,299,835.68
STK Strickland Metals -2% -8% -16% 20% 0.049 $67,898,433.40
ALY Alchemy Resource -2% 19% 79% 57% 0.0215 $20,014,595.06
OMH OM Holdings Limited -2% -5% -30% -16% 0.63 $472,718,935.68
JMS Jupiter Mines. -3% -5% -19% -20% 0.195 $382,003,251.44
TEM Tempest Minerals -3% -14% 73% 50% 0.038 $19,181,114.69
CMX Chemxmaterials -3% -6% -6% 0% 0.17 $7,967,241.42
TMB Tambourahmetals -3% -17% -27% -39% 0.15 $6,178,889.70
GW1 Greenwing Resources -3% -3% 2% -23% 0.28 $33,893,020.98
LNR Lanthanein Resources -4% 86% 125% 177% 0.054 $53,918,231.92
DEV Devex Resources -4% -4% -11% 24% 0.385 $140,225,130.24
FGR First Graphene -4% -14% -22% -32% 0.125 $71,958,122.63
MNS Magnis Energy Tech -4% 7% 11% 38% 0.49 $470,610,769.26
MNS Magnis Energy Tech -4% 7% 11% 38% 0.49 $470,610,769.26
SRI Sipa Resources -4% 5% -17% -29% 0.045 $9,226,116.14
RBX Resource B -4% -12% -45% -33% 0.11 $4,917,179.64
MAN Mandrake Res -5% -11% -11% -24% 0.042 $22,983,496.56
DTM Dart Mining NL -5% 27% 31% -16% 0.105 $15,554,918.40
SLZ Sultan Resources -5% -31% -41% -41% 0.1 $8,328,438.90
AZI Altamin Limited -5% 1% 32% 9% 0.09 $35,254,507.68
MLX Metals X Limited -5% -12% -56% -15% 0.265 $249,498,168.43
RXL Rox Resources -5% -4% -35% -37% 0.265 $42,235,236.75
SHH Shree Minerals -6% -15% -53% -35% 0.0085 $10,527,138.58
KFM Kingfisher Mining -6% 122% 122% 156% 0.5 $15,581,475.46
NVA Nova Minerals -6% 5% 37% -40% 0.875 $161,621,922.00
AKN Auking Mining -6% -42% -54% -59% 0.076 $7,575,270.44
ENV Enova Mining Limited -6% -6% -12% -38% 0.015 $5,508,225.93
IPT Impact Minerals -7% -13% -48% -44% 0.007 $17,369,593.89
STM Sunstone Metals -7% -13% -45% 100% 0.042 $109,050,749.60
PGD Peregrine Gold -7% -26% 31% 86% 0.67 $27,105,089.20
AR3 Austrare -7% -20% -58% -65% 0.33 $31,892,519.92
RMX Red Mount Min -7% -7% -19% -35% 0.0065 $10,675,365.08
WMG Western Mines -7% -16% -43% -30% 0.13 $5,128,550.00
GSM Golden State Mining -7% -17% -36% -63% 0.05 $5,850,710.20
LIT Lithium Australia -7% -27% -41% -48% 0.062 $74,398,235.81
SUM Summitminerals -8% 6% 0% 0% 0.185 $4,450,959.00
NC1 Nicoresourceslimited -8% -14% 12% 0% 0.785 $68,581,501.56
CML Chase Mining Limited -9% -3% 4% -24% 0.0145 $7,021,991.42
NKL Nickelx -10% 0% -13% -41% 0.13 $8,383,500.00
QEM QEM Limited -10% -10% 23% 34% 0.215 $26,269,651.17
AOU Auroch Minerals -11% -14% -49% -68% 0.059 $23,008,931.54
NWM Norwest Minerals -11% 33% -16% -20% 0.056 $10,114,013.67
ADD Adavale Resource -12% 20% -31% -43% 0.03 $13,339,876.44
SRZ Stellar Resources -13% -22% -48% -55% 0.014 $13,512,766.76
KGD Kula Gold Limited -13% -26% -52% -61% 0.02 $5,379,390.76
MOH Moho Resources -14% 7% -33% -50% 0.03 $4,983,892.92
GRE Greentechmetals -14% -32% -14% 0% 0.21 $6,255,999.80
KOB Kobaresourceslimited -15% -3% 0% 0% 0.145 $9,425,000.00
MRD Mount Ridley Mines -17% 0% -44% 25% 0.005 $29,374,854.71
HAS Hastings Tech Met -19% -5% -18% 4% 4.37 $446,373,950.00
PVW PVW Res -35% -34% -69% 0% 0.175 $15,813,718.75
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