A fast-growing staple of the green energy revolution, rare earth elements are used to produce electric magnets found in everything from electric vehicles (EVs) to direct drive wind turbines.
With tightening global emissions restrictions driving up demand for EVs, cashing in on deposits of rare earth materials is a savvy way to secure a seat at the table of the blossoming green economy, and finding alternative sources to China has become a priority amidst continued trade tensions.
Peak Resources’ Ngualla project is based on one of the largest and highest-grade undeveloped neodymium praseodymium (NdPr) deposits in the world, located in southern Tanzania. Rare earths remain a newly-emerging product and while deposits in Tanzania are high-grade, Peak Resources’ project marks the first rare earths mine in the country.
It has, however, been dogged with hurdles, including disputes between the government and gold miner Acacia, as well as a 2020 election that saw parliament change hands. Now, Peak is on the home stretch to receiving its mining license.
Rare earths in Tanzania
Tanzania has a strong mining history, as both Africa’s fourth-largest gold producer and a lucrative hub for precious materials such as diamond and tanzanite.
For the rest of this article: https://www.mining-technology.com/features/could-rare-earths-peak-in-tanzania/