Tesla's decision to stop using rare earths in its next-generation EVs has caused a sharp decline in the shares of rare earth miners such as Lynas Rare Earths and Arafura Rare Earths.
miners across the board are getting the wind knocked out of their sails, from East to West, from China to Australia.
Just like what we have witnessed with the lithium markets over the past two years, EV makers have been scrambling to secure supplies of rare earths such as neodymium and praseodymium leading to a supply squeeze and skyrocketing prices. Adamas Intelligence and IDTechEx have said that Tesla will most likely shift to ferrite magnets, though they come with a significant weight and efficiency penalty.
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