Neodymium, Dysprosium May Have Best Growth on Hi-Tech
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Neodymium and dysprosium may have the biggest demand growth potential among rare earths as they are used in magnets in BlackBerrys, Toyota Motor Corp’s hybrid cars and windmills, industry executives said.
“The biggest growth areas for rare earth are magnets and metal alloys,” Damien Krebs, metallurgy manager of Australia’s Greenland Minerals and Energy Ltd., said in an interview in Hong Kong. “Their growth in future is to be around 15 to 20 percent per annum.” The company plans to start production at a mine in Greenland in 2016.