Global Annual Production (2022)
Neodymium Oxide
The Basis of High-Performance MagnetsWhat is Neodymium Oxide?
This blue powder in oxide form is one of the lanthanides and a main component of neodymium-iron-boron magnets. These are currently the strongest permanent magnets, capable of permanently holding one hundred to one thousand times their own weight, enabling high performance with low mass, and are about 40 percent stronger than samarium-cobalt magnets of the same size. For these reasons, they are used in many technologies.
Since large neodymium-iron-boron magnets are installed in wind turbines, a sufficient supply of neodymium oxide is crucial for the success of the energy transition. Primarily for this reason, the demand for this metal, classified as a light rare earth, is steadily increasing.
Price Development
Globally, states are investing many millions of dollars in magnet production. The low price level, largely dictated by China until now, will hardly be sustainable. Given the effort involved in production that complies with modern Western regulations, the price for neodymium oxide is currently incredibly low. In view of the immense demand from both the energy transition and the automotive and defense industries, it can be assumed that prices will rise sharply.
Main Applications
- High-Performance Magnets
- Colorants for Enamel and Porcelain
- UV-Absorbing Glasses
- Laser Technology
- Permanent Magnets
Facts about Neodymium Oxide
Annual Global Production Volume
Price Increase (2021)
Several Key Industries Simultaneously Need Neodymium-Iron-Boron Magnets
However, neodymium oxide has particular importance as a component of high-quality lasers. So-called neodymium-doped yttrium aluminum garnet lasers, or Neodymium-YAG lasers, are widely used in industry. Neodymium magnets are also found in the finest electronics. For example, they are found in headphones and speakers of mobile phones, and in hard drives and other storage devices.
Another important area of application is electric cars powered by magnetic motors. Up to 20 kilograms of rare earths are installed in such a vehicle, the majority of which is neodymium oxide. Even larger quantities are required by military vehicles, making neodymium oxide indispensable for modern military security.
Mining and Extraction
Neodymium occurs in nature only in association with other lanthanides. It is often found chemically bound, accompanied by praseodymium, in minerals of the monazite group and the cerite group. As with other rare earths, primary extraction is difficult due to its low abundance in the Earth’s crust. The main supplier of neodymium is China. Significant ore deposits are also present in Australia, particularly in the Northern Territory. There, the mining company Arafura Resources extracts neodymium-containing ore and plans to build a processing plant. The USA also has a significant mine in Mountain Pass.
Growth Markets
- Magnets
- Lasers
- Color for Glass and Ceramics
- Storage Electronics such as Hard Drives
- Loudspeakers and Headphones
- UV-Absorbing Glasses
Interesting Fact:
Neodymium oxide is also used in the development of nuclear fusion as an (almost) free energy source. With increasingly better technologies, researchers are managing to heat hydrogen plasma to temperatures found inside the sun. The point at which the plasma produces more energy than was put into it is getting closer. Two methods, in particular, are in a neck-and-neck race: reactors with Tokamak magnetic coils and those where the plasma is heated with neodymium lasers. Neodymium oxide is indispensable for the construction of both reactor types.
