Creating a low carbon, environmentally sustainable and socially just value chain for rare earth magnets

Start date: 1 March 2024
End date: 28 February 2025
Funder: Innovate UK
Value: £316,643
Partners and collaborators: University of Hull, Pensana, Route2, Polestar
Primary investigator: Dr Laura Smith
Co-investigators: Dr Jonathan Busch, Dr James Van Alstine
External co-investigators: Dr Jay Wadhawan, University of Hull Mr Danny McNeice, Pensana Plc Mr Daniel Dias, Route2 Mr Felipe Martin, Polestar

Neodymium (NdFeB) rare earth magnets drive low-carbon futures, being used in green technologies such as electric vehicles, wind turbines and robotics. Securing sustainable rare earth (RE) sources for NdFeB magnets is vital to meet global sustainability and climate goals. However, global RE value chains are associated with poor environment, social and governance (ESG) performance, which increases risks and undermines sustainability aims.

Pensana provides a real-world value chain against which this project explores innovative business model creation to ensure a sustainable and resilient RE supply chain, drawing on University of Leeds’ experience in evaluating and addressing social impacts throughout the extractive lifecycle.

The Innovate UK-funded project has two aspects:
1. An assessment of environmental and social impacts across the entire NdFeB value chain;
2. Combining industrial and academic expertise to identify potential material interventions, thereby maximising environmental sustainability and adding social value across the entire value chain.

Project website

https://www.ukri.org/news/projects-secure-6-6m-to-strengthen-uk-supply-of-critical-materials/