Rare Earth Stocks to Consider for New Year 2022
At the moment, nearly all rare earth comes from China, which has proven to be unstable.
Worse, according to Forbes, China is stockpiling rare earths and critical minerals for its own domestic use, as companies and governments face worldwide shortages due to new demand for electric vehicles. For example, analysts at UBS say electric vehicle demand could trigger a big increase in rare earth prices over the next few years, “especially for neodymium and praseodymium (commonly traded as NdPr) which could double from $50/kilogram to $100/kg by 2024.
That’s part of the reason the U.S. – which relies on 80% of China for rare earth imports aggressively looking for other rare earth hot spots, which could be beneficial for Monumental Minerals Corp. (TSXV:MNRL) (OTC:MNMRF), Lynas Rare Earths Ltd. (OTC:LYSCF), MP Materials Corp. (NYSE:MP), Ucore Rare Metals Inc. (OTC:UURAF)(TSXV:UCU), and Rare Element Resources Ltd. (OTC:REEMF).